Aardvark Therapeutics Q2 operating expenses fall on paused ARD-101 clinical trials and workforce reduction

Aardvark Therapeutics

11/08/2026 22:04

Overview
US biopharma firm's Q2 net loss narrowed and beat analyst expectations
Operating expenses fell yr/yr due to paused ARD-101 clinical trials and workforce reduction
Company assessing unblinded Phase 3 data for ARD-101 and remains in talks with FDA

Outlook
Company assessing unblinded Phase 3 HERO and OLE data for ARD-101 in PWS in Q3 2026
Company remains in active discussions with FDA to resolve clinical hold for ARD-101 program
Aardvark expects cash and investments to fund operations into late 2027

Result Drivers
CLINICAL TRIAL PAUSE - Co attributed lower R&D expenses to voluntary pause of all ARD-101 clinical trials and subsequent FDA clinical hold
WORKFORCE REDUCTION - Personnel-related costs increased prior to workforce reduction in June 2026, with severance expenses impacting G&A
PHASE 3 DATA ASSESSMENT - Co is assessing unblinded HERO and OLE trial data to determine next steps for ARD-101 in PWS

Company press release: ID:nGNX3sqvqk

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Loss
Beat
$14.39 mln
$20.64 mln (10 Analysts)
Q2 Income from Operations
 
-$15.08 mln
 
Q2 Operating Expenses
 
$15.08 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 4 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Aardvark Therapeutics, Inc. is $7.00, about 7.4% below its August 10 closing price of $7.56

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)