#None #Hagens Berman #Aardvark Therapeutics #ARD-101

Aardvark Therapeutics Faces Investor Backlash After Major Trial Halt

On March 2, 2026, shares of Aardvark Therapeutics (NASDAQ: AARD) experienced a dramatic decline, plummeting by 56% to a low of $7.02 per share as the company announced a significant pause in their Phase 3 Hunger Elimination of Reduction Objective (HERO) trial evaluating ARD-101. This drug was being tested for treating hyperphagia, a condition characterized by insatiable hunger, particularly in patients with Prader-Willi Syndrome (PWS). The abrupt halt in clinical trials shocked investors and prompted a swift market reaction.

The steep decline triggered interest from national shareholder rights firm Hagens Berman, which is now investigating whether Aardvark provided misleading information that may have contravened federal securities laws. It appears the firm is reaching out to investors who incurred substantial losses during this incident, urging them to share their experiences and insights. The focus of their inquiry aims to determine the adequacy of disclosures made by Aardvark regarding ARD-101’s efficacy and safety data, along with its communications with the Food and Drug Administration (FDA).

Historically, Aardvark Therapeutics had characterized ARD-101 as a pioneering medication in the treatment of hyperphagia. They had communicated confidence in its