Aardvark Therapeutics, Inc. (AARD)

Aardvark Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing small-molecule therapies that target hunger and metabolic pathways. Its approach seeks to activate gut-based signaling that influences the brain's hunger and satiety circuits, with the aim of treating conditions where hunger is a major driver of disease.

The company's lead candidate, ARD-101, is an oral bitter taste receptor agonist being studied for hyperphagia, the persistent and extreme hunger associated with Prader-Willi syndrome, a rare genetic disorder. It is also developing ARD-201, a combination product intended for obesity and weight management. Aardvark Therapeutics is based in San Diego, California, and completed its Nasdaq initial public offering in 2025.