Aardvark Therapeutics Q3 net loss widens, misses estimates
AARD•Aardvark Therapeutics reported a third-quarter net loss of $19.19 million, wider than the $15.80 million analyst estimate. The company said the FDA lifted the clinical hold on ARD-101 and it expects to resume clinical activities in 2027, subject to FDA alignment.
1. Quarterly results
Aardvark Therapeutics reported a Q3 net loss of $19.19 million, missing the $15.80 million consensus estimate from eight analysts. Operating expenses were $19.72 million. Higher research and development costs, including FDA-required cardiac safety studies for ARD-101 and increased personnel costs, were partly offset by lower costs after early termination of the HERO and OLE trials.
2. ARD-101 outlook
The FDA lifted the clinical hold on ARD-101. Aardvark expects to resume clinical activities for Prader-Willi syndrome in 2027, subject to FDA alignment, and has scheduled an FDA meeting for the first quarter of 2027 to discuss the development plan. The company said its cash position supports projected operations through 2027.
