NEW YORK, Sept. 18, 2026 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating Aardvark Therapeutics, Inc. (NASDAQ: AARD) (“Aardvark” or the “Company”) for potential violations of the federal securities laws.
Aardvark completed its initial public offering in February 2025, selling approximately 5.9 million shares at $16.00 per share and raising approximately $87.6 million. In its offering documents, Aardvark touted the safety profile and the clinical, regulatory, and commercial prospects of its lead product candidate, ARD-101, a gut-restricted small-molecule agonist being developed to treat hyperphagia in patients with Prader-Willi Syndrome.
On February 27, 2026, Aardvark announced a voluntary pause of its Phase 3 HERO trial evaluating ARD-101, citing “reversible cardiac observations” at above-target therapeutic doses. Following this news, the price of Aardvark stock fell $7.02 per share, or approximately 56.2%, to close at $5.47 per share on March 2, 2026, causing losses to shareholders.
On May 14, 2026, the U.S. Food and Drug Administration placed a full clinical hold on the investigational new drug application for ARD-101, halting all ongoing studies. The investigation concerns whether Aardvark and its officers and/or directors overstated ARD-101’s safety profile and its clinical, regulatory, and commercial prospects, and whether the Company’s offering documents contained untrue statements of material fact or omitted information necessary to make the statements therein not misleading. Following this news, the price of Aardvark stock fell $2.16 per share, or approximately 32.1%, to close at $4.57 per share on May 15, 2026, causing additional losses to shareholders.
“Our investigation concerns whether the company and its executives provided investors with accurate and complete information about the company,” said attorney Andrea Farah, Lowey Dannenberg, P.C. partner and head of the firm's securities practice.
If you suffered a loss in Aardvark securities, and wish to participate, or learn more about your eligibility, contact our attorneys Andrea Farah (afarah@lowey.com) at (914) 733-7256 or Vincent R. Cappucci Jr. (vcappucci@lowey.com) at (914) 733-7278.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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Lowey Dannenberg P.C.
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Tel: (914) 733-7256
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg
