AARD Deadline Alert: SueWallSt Reminds Aardvark Therapeutics, Inc. (AARD) Investors of Securities Class Action Deadline on October 13, 2026

Dated chronology: from a $16.00 IPO in February 2025 to a Phase 3 pause and a full FDA clinical hold, a securities class action alleges Aardvark Therapeutics' ARD-101 safety representations unraveled while AARD shares fell to $4.57.

NEW YORK, Sept. 17, 2026 /PRNewswire/ -- SueWallSt encourages investors who suffered losses in Aardvark Therapeutics, Inc. (NASDAQ: AARD) to contact Levi & Korsinsky LLP. WHO IS AFFECTED: Those who purchased Aardvark securities between February 13, 2025 and May 14, 2026, or acquired shares traceable to the Company's February 2025 initial public offering, may be entitled to recover damages. Find out if you might be eligible to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

AARD priced its IPO at $16.00 per share, raising $87,613,440 on 5,888,000 shares. Shares closed at $5.47 on March 2, 2026 after a $7.02 (56.2%) single-session decline, then closed at $4.57 on May 15, 2026 after a further $2.16 (32.1%) drop, roughly $11.43 below the offering price. Investors have until October 13, 2026 to seek lead plaintiff status.

Chronology of Material Events

• February 13, 2025 — Offering Documents state ARD-101 was "approximately 99% restricted to the gut with minimal systemic exposure," "well-tolerated at all dose levels," and "resulted in no serious adverse events." Trading opens on NASDAQ.
• March 31, 2025 — The FY 2024 annual report repeats that limited systemic absorption "reduces the potential for systemic toxicity," and reaffirms Phase 3 HERO topline data in early 2026.
• November 13, 2025 — A quarterly filing again describes ARD-101 as well-tolerated in the completed Phase 2 trial.
• February 27, 2026 — Aardvark announces a voluntary pause of the Phase 3 HERO trial citing "reversible cardiac observations at above target therapeutic doses found during routine safety monitoring in a healthy volunteer study," and states it no longer anticipates HERO topline data in the third quarter of 2026.
• May 14, 2026 — The Company announces the FDA placed a full clinical hold on the ARD-101 IND, covering both the Phase 3 HERO trial and the Phase 3 open-label extension.

Why the Sequence Matters to Shareholders

The securities action alleges that across this fifteen-month sequence, ARD-101 was less safe than investors were led to believe and that its clinical, regulatory, and commercial prospects were correspondingly overstated. As claimed in the pleading, the warning signs did not surface gradually in public disclosures; they arrived in two concentrated announcements that repriced the stock. Aardvark shares have continued to trade below the $16.00 offering price.

"Timely disclosure of material developments is fundamental to fair and efficient markets. Here, the complaint alleges that safety representations about ARD-101 remained unchanged in filings through late 2025, months before a Phase 3 pause and a full clinical hold were announced." -- Joseph E. Levi, Esq.

Click here to submit your information and learn more about the case or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the AARD Lawsuit

Q: How much did AARD stock drop? A: Shares fell approximately 56.2%, a decline of $7.02 per share, after the Company disclosed a voluntary pause of the Phase 3 HERO trial due to reversible cardiac observations, and then fell a further 32.1%, or $2.16 per share, after the FDA placed a full clinical hold on the ARD-101 IND. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.

Q: What specific misstatements does the AARD lawsuit allege? A: The complaint alleges Aardvark Therapeutics, Inc. made materially false or misleading statements regarding the safety and tolerability of ARD-101, including that it was approximately 99% gut-restricted with minimal systemic exposure and produced no serious adverse events, during the Class Period. When the Phase 3 HERO trial pause and the FDA's full clinical hold were disclosed, the stock price declined sharply.

Q: When did Aardvark Therapeutics allegedly mislead investors? A: The Class Period runs from February 13, 2025 to May 14, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What court was the AARD class action filed in? A: The case was filed in the United States District Court for the Southern District of California, governed by the Private Securities Litigation Reform Act of 1995.

Q: What do AARD investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What documents do I need to to submit my information? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my AARD shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution. Timing depends on the court schedule, case developments, and whether the matter is dismissed, settled, or litigated further.

CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
[email protected]\
Tel: (888) SueWallSt\
Fax: (212) 363-7171

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SOURCE SueWallSt.com