Aardvark Therapeutics Reports Q2 Loss Amid Rising R&D Expenses and Clinical Trial Advancements

Aardvark Therapeutics reported a Q2 net loss per share of $(0.66) (GAAP) due to sharply higher R&D expenses. The HERO trial for ARD-101 (Prader-Willi Syndrome) expanded to include younger patients, and new Phase 2 trials for ARD-201 (obesity) were announced. Cash and short-term investments reached $141.8 million, projected to fund operations into 2027.

Aardvark Therapeutics, Inc. (NASDAQ:AARD) reported its Q2 2025 financial results, showing a net loss per share of $(0.66) (GAAP) due to sharply higher R&D expenses. The company's cash and short-term investments reached $141.8 million, providing sufficient funding to support operations until 2027 [3].

Key highlights of the Q2 report include the expansion of the Phase 3 HERO trial for ARD-101, which is being developed for the treatment of Prader-Willi Syndrome (PWS). The trial will now include patients under 13 years old [3]. Additionally, Aardvark Therapeutics announced new Phase 2 trials for ARD-201, a fixed-dose combination of ARD-101 and a DPP-4 inhibitor, designed to address limitations in current GLP-1RA therapies for obesity and obesity-related conditions. These trials, named POWER and STRENGTH, will replace the previously planned EMPOWER trial [2].

The company also reported positive preclinical data for ARD-201, demonstrating significant weight loss as a monotherapy, enhancement of GLP-1RA therapy in combination, and effective maintenance following discontinuation of GLP-1RA therapy. These results were presented in a validated diet-induced obesity (DIO) mouse model [2].

Aardvark Therapeutics strengthened its leadership team with strategic appointments across scientific, commercial, regulatory, and legal functions, further supporting its pipeline and R&D initiatives [3].

Despite the widening losses, Aardvark Therapeutics' strong cash position and strategic pipeline adjustments provide an extended runway for its operations. Investors should closely monitor the progress of the new Phase 2 trials and the ongoing HERO trial for updates on the company's clinical development and financial performance.

References:
1. [https://www.marketscreener.com/news/aardvark-therapeutics-q2-loss-narrows-ce7c51d8d88cfe21]
2. [https://drug-dev.com/aardvark-therapeutics-announces-ard-201-preclinical-obesity-data-showing-significant-weight-loss-as-a-monotherapy-enhancement-of-glp-1ra-therapy-in-combination-effective-maintenance-following-disco/]
3. [https://www.stocktitan.net/news/AARD/aardvark-therapeutics-reports-second-quarter-2025-financial-results-bjusd6u1etwn.html]