Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Aardvark Therapeutics, Inc. (“Aardvark” or the “Company”) (NASDAQ: AARD) common stock between February 10, 2025 and May 14, 2026, inclusive (the “Class Period”). Aardvark investors have until October 13, 2026 to file a lead plaintiff motion.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN AARDVARK THERAPEUTICS, INC. (AARD), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
What Happened?
On February 27, 2026, Aardvark issued a press release “announc[ing] it is voluntarily pausing the Phase 3 Hunger Elimination or Reduction Objective (HERO) trial” due to a “reversible cardiac observations at above target therapeutic doses found during routine safety monitoring in a healthy volunteer study” and said that it is “conducting a comprehensive review of the data to inform next steps.”
On this news, Aardvark’s stock price fell $7.02 per share, or 56.2%, to close at $5.47 per share on March 2, 2026, thereby injuring investors.
Then, on May 14, 2026, Aardvark issued a press release “announc[ing] that the U.S. Food and Drug Administration (FDA) has placed a full clinical hold on its investigational new drug application (IND) for ARD-101 related to the Company’s previously announced voluntary pause.” The press release stated “[t]he clinical hold applies to all ongoing clinical studies under the IND, including the Phase 3 HERO trial (AVK-101-301… and the Phase 3 open-label extension (OLE) trial (AVK-101-302).”
On this news, Aardvark’s stock price fell $2.16 per share, or 32.1%, to close at $4.57 per share on May 15, 2026, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that between February 10, 2025 and May 14, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) ARD-101 was less safe than Defendants had led investors to believe; (ii) accordingly, ARD-101’s clinical, regulatory, and commercial prospects were overstated; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
Contact Us To Participate or Learn More:
If you purchased Aardvark Therapeutics, Inc. common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com,
Visit our website at: www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260824323790/en/
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