Lawsuit Claims Aardvark Therapeutics Misled Investors on Drug Candidate
A class action lawsuit alleges Aardvark Therapeutics misled investors about the prospects of its drug candidate ARD-101. The company's stock price fell significantly in February 2026 after pausing a Phase 3 clinical trial.
San Diego, CA – September 30, 2026 – Shareholder rights law firm Robbins LLP is notifying investors of a class action lawsuit filed against Aardvark Therapeutics, Inc. (NASDAQ: AARD). The complaint alleges the company made misleading statements about the viability and efficacy of its lead drug candidate, ARD-101, leading to substantial investor losses.
The lawsuit, covering the period from February 13, 2025, to May 14, 2026, claims Aardvark Therapeutics failed to disclose significant safety concerns related to ARD-101 and overstated its clinical, regulatory, and commercial prospects. The company is developing ARD-101 for conditions including Prader-Willi Syndrome.
In February 2026, Aardvark Therapeutics announced it was voluntarily pausing the Phase 3 HERO trial for ARD-101 due to observed reversible cardiac effects at higher therapeutic doses. Following this news, the company's stock price dropped by 56.2%.
In May 2026, the U.S. Food and Drug Administration (FDA) placed a full clinical hold on ARD-101's investigational new drug application. This hold halted all ongoing clinical studies, including the HERO trial. Consequently, Aardvark Therapeutics' stock price fell further.
Robbins LLP urges investors who suffered losses during the class period to contact the firm for more information about their rights to participate in the lawsuit. The deadline to seek lead plaintiff status is October 13, 2026. Robbins LLP represents investors on a contingency fee basis.