Aardvark Therapeutics, Inc. (AARD)
NASDAQ:AARD
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Aardvark Therapeutics, Inc.
(NASDAQ:AARD)
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Rating:44Neutral
Price Target:
$4.00
▼(-23.52% Downside)
Action:Reiterated
Date:06/13/26
The score is held down primarily by weak financial performance (pre-revenue with rapidly widening losses and heavy cash burn) and bearish technical signals (price below key moving averages with negative MACD). Corporate events add risk due to the FDA clinical hold, while the low-debt balance sheet and financing flexibility provide only partial offset.
Positive Factors
Low leverage and recovering equity
Very low debt and a return to positive equity provide durable financial flexibility for a pre-revenue biotech. This reduces near-term solvency risk, supports continued R&D financing options, and improves credibility with investors and partners even as operating losses persist.
Negative Factors
FDA full clinical hold on ARD-101
A full FDA clinical hold on the lead program is a material structural setback that halts pivotal trials, delays any approval timeline, and may require new data or protocol changes. This directly undermines the company's core value creation path and revenue prospects over months to years.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and recovering equity
Very low debt and a return to positive equity provide durable financial flexibility for a pre-revenue biotech. This reduces near-term solvency risk, supports continued R&D financing options, and improves credibility with investors and partners even as operating losses persist.
Read all positive factors
Aardvark Therapeutics, Inc. (AARD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$79.41M
Dividend YieldN/A
Average Volume (3M)162.93K
Price to Earnings (P/E)―
Beta (1Y)2.28
Revenue GrowthN/A
EPS Growth-1.62%
CountryUS
Employees22
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.21
Shares Outstanding21,816,385
10 Day Avg. Volume127,479
30 Day Avg. Volume162,931
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.69
Price to Sales (P/S)0.00
P/FCF Ratio-5.28
Enterprise Value/Market Cap0.35
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-0.39
Forecast
1Y Price Target
$5.00Price Target Upside-4.40% Downside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)-3.59
Revenue Forecast (FY)N/A
Aardvark Therapeutics, Inc. Business Overview & Revenue Model
Company Description
Aardvark Therapeutics, Inc. is a biopharmaceutical firm in its clinical development phase, concentrating on developing small-molecule treatments. These therapies are designed to stimulate the body's natural regulatory systems (innate homeostatic p...
How the Company Makes Money
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Aardvark Therapeutics, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -69.83M | -57.55M | -22.65M | -6.65M | -10.76M |
| Net Income | -69.87M | -57.59M | -20.59M | -7.21M | -13.56M |
Balance Sheet | |||||
| Total Assets | 98.59M | 117.18M | 77.51M | 10.54M | 16.76M |
| Cash, Cash Equivalents and Short-Term Investments | 91.20M | 110.03M | 73.66M | 9.99M | 16.11M |
| Total Debt | 336.00K | 441.00K | 779.00K | 162.00K | 262.00K |
| Total Liabilities | 11.60M | 10.55M | 132.15M | 45.34M | 44.68M |
| Stockholders Equity | 86.99M | 106.63M | -54.64M | -34.80M | -27.92M |
Cash Flow | |||||
| Free Cash Flow | -61.75M | -54.27M | -18.20M | -5.82M | -10.54M |
| Operating Cash Flow | -61.65M | -54.17M | -18.09M | -5.82M | -10.54M |
| Investing Cash Flow | 97.21M | -49.67M | -12.00M | 0.00 | -1.00M |
| Financing Cash Flow | 378.00K | 89.25M | 81.99M | 0.00 | 225.00K |
Aardvark Therapeutics, Inc. Risk Analysis
Aardvark Therapeutics, Inc. disclosed 89 risk factors in its most recent earnings report. Aardvark Therapeutics, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Aardvark Therapeutics, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $339.24M | -5.37 | -20.31% | ― | 8.21% | 21.41% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $851.93M | -15.54 | -73.23% | ― | ― | -42.64% | |
45 Neutral | $1.70B | -60.56 | 31.23% | ― | ― | ― | |
44 Neutral | $79.41M | -1.22 | -61.71% | ― | ― | -1.62% | |
44 Neutral | $770.06M | -4.66 | -101.19% | ― | ― | -3.74% |
* Healthcare Sector Average
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Aardvark Therapeutics, Inc. Corporate Events
Business Operations and StrategyExecutive/Board Changes
Aardvark Therapeutics Implements Executive Retention Bonus Agreements
Positive
Jun 12, 2026
On June 10, 2026, Aardvark Therapeutics, Inc. entered into a retention bonus agreement with its Chief Financial Officer and Chief Operating Officer, Nelson Sun, providing for a total cash retention bonus of $346,500, combining a guaranteed 2026 an...
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
FDA Clinical Hold Halts Aardvark’s ARD-101 Late-Stage Program
Negative
May 14, 2026
On May 14, 2026, Aardvark Therapeutics said the U.S. Food and Drug Administration placed a full clinical hold on its investigational new drug application for ARD-101, following the company’s earlier voluntary pause. The hold affects all ongo...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Aardvark Therapeutics Establishes $150 Million Equity Program
Positive
Mar 24, 2026
On March 23, 2026, Aardvark Therapeutics, Inc. entered into an equity distribution agreement with Piper Sandler Co., allowing the company, at its discretion, to offer and sell up to $150 million of its common stock from time to time under an effe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
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