Aardvark Therapeutics Q3 net loss widens, misses estimates

Overview

• US biopharma's Q3 net loss widened, missing analyst expectations

• R&D expenses rose due to FDA-required cardiac safety studies for ARD-101

• FDA lifted clinical hold on ARD-101; clinical activities expected to resume in 2027

Outlook

• Aardvark expects to resume PWS clinical activities in 2027, subject to FDA alignment

• Company has scheduled FDA meeting for Q1 2027 to discuss ARD-101 clinical development plan

• Aardvark says cash position supports projected operations through 2027

Result Drivers

• R&D EXPENSES - Higher Q3 R&D costs driven by FDA-required cardiac safety study for ARD-101 and increased personnel costs

• TRIAL TERMINATIONS - Lower clinical trial costs after early termination of HERO and OLE trials partially offset higher R&D expenses

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "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 $6.00, about 294.7% above its November 12 closing price of $1.52

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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.)