{"success":true,"data":{"pressRelease":{"id":"5291","rtpr_id":"nPn6zDbsZa","ticker":"AARD","exchange":"NASDAQ","all_tickers":["AARD"],"title":"Aardvark Therapeutics (AARD) Faces Investor Scrutiny Amid 56% Drop On Clinical Pause For Lead Drug Candidate- Hagens Berman","author":"PR Newswire","published_at":"2026-04-22T18:25:00.019Z","article_body":"Aardvark Therapeutics (AARD) Faces Investor Scrutiny Amid 56% Drop On Clinical Pause For Lead Drug Candidate- Hagens Berman\n\nPR Newswire\n\nSAN FRANCISCO, April 22, 2026\n\nSAN FRANCISCO, April 22, 2026 /PRNewswire/ - On March 2, 2026, investors in\nAardvark Therapeutics (NASDAQ: AARD) saw the price of their shares crater\n$7.02 (-56%) after the company announced that it stopped its Phase 3 Hunger\nElimination of Reduction Objective (\"HERO\") trial evaluating the efficacy and\nsafety of ARD-101 as a treatment for hyperphagia (insatiable hunger) in\npatients with Prader-Willi Syndrome (\"PWS\").\n\n(https://mma.prnewswire.com/media/2590203/Hagens_Berman_Sobol_Shapiro_LLP_Logo.html)\n\nThe development and severe market reaction have prompted national shareholder\nrights firm Hagens Berman to open an investigation into whether Aardvark may\nhave misled investors in violation of federal securities laws.  The firm\nencourages Aardvark investors who suffered substantial losses to submit your\nlosses now\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1570991487&u=https%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2Faard&a=submit+your+losses+now)\n.\n\nThe firm also encourages persons with knowledge who may be able to assist the\ninvestigation to contact its attorneys.\n\nVisit: www.hbsslaw.com/investor-fraud/aard\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1286612866&u=https%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2Faard&a=www.hbsslaw.com%2Finvestor-fraud%2Faard)\n\nContact the Firm Now: AARD@hbsslaw.com (mailto:AARD@hbsslaw.com)\n                                        844-916-0895\n\nAardvark Therapeutics (AARD) Investigation:\n\nThe investigation is focused on the propriety of Aardvark's disclosures about\nARD-101 safety and efficacy data, along with disclosures regarding\ncommunications with the FDA.\n\nIn the past, Aardvark has emphasized that ARD-101 represented a\n\"first-in-class\" drug and that, \"through alignment with the FDA,\" it started\nHERO patients 13 years and older, moved to dosing patients 10 years and older,\nand intended to dose patients as young as 4 years old.\n\nThe company has also assured investors that ARD-101 has \"a very tolerable\nsafety profile.\"\n\nInvestors' expectations were dashed on March 2, 2026. That day, Aardvark\nabruptly announced that it was pausing the HERO trial. The company said its\ndecision was based on a serious safety risk – namely, \"reversible cardiac\nobservations[.]\" Aardvark also said that it no longer anticipates announcing\ntopline data from the HERO trial during the third quarter of 2026.\n\nThe market swiftly reacted, sending the price of Aardvark shares down by over\nhalf and, with the emergence of cardiac safety signals, reportedly prompting\nseveral analysts to sharply reduce or suspend their price targets.\n\n\"We're focused on whether Aardvark may have misled investors about ARD-101's\ndevelopment, its safety and/or efficacy, and the company's communications with\nthe FDA,\" said Reed Kathrein\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1321380244&u=https%3A%2F%2Fwww.hbsslaw.com%2Fattorneys%2Freed-kathrein&a=Reed+Kathrein)\n, the Hagens Berman partner leading the firm's investigation.\n\nIf you invested in Aardvark Therapeutics and have substantial losses, or have\nknowledge that will assist the firm's investigation, submit your losses now\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1570991487&u=https%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2Faard&a=submit+your+losses+now)\n.\n\nIf you'd like more information and answers to frequently asked questions about\nthe firm's Aardvark investigation, read more »\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1971599653&u=https%3A%2F%2Fwww.hbsslaw.com%2Fcases%2Faardvark-therapeutics-inc-aard-investigation&a=read+more+%C2%BB)\n\nWhistleblowers: Persons with non-public information regarding Aardvark\nTherapeutics should consider their options to help in the investigation or\ntake advantage of the SEC Whistleblower program. Under the new program,\nwhistleblowers who provide original information may receive rewards totaling\nup to 30 percent of any successful recovery made by the SEC. For more\ninformation, call Reed Kathrein at 844-916-0895 or email AARD@hbsslaw.com\n(mailto:AARD@hbsslaw.com) .\n\nAbout Hagens Berman\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=3574651888&u=https%3A%2F%2Fwww.hbsslaw.com%2F&a=About+Hagens+Berman)\n\nHagens Berman is a global plaintiffs' rights complex litigation firm focusing\non corporate accountability. The firm is home to a robust practice and\nrepresents investors as well as whistleblowers, workers, consumers and others\nin cases achieving real results for those harmed by corporate negligence and\nother wrongdoings. Hagens Berman's team has secured more than $2.9 billion in\nthis area of law. More about the firm and its successes can be found\nat hbsslaw.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=816330441&u=https%3A%2F%2Fwww.hbsslaw.com%2F&a=hbsslaw.com)\n. Follow the firm for updates and news at @ClassActionLaw\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=171309511&u=https%3A%2F%2Fwww.twitter.com%2FClassActionLaw&a=%40ClassActionLaw)\n.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/aardvark-therapeutics-aard-faces-investor-scrutiny-amid-56-drop-on-clinical-pause-for-lead-drug-candidate-hagens-berman-302750579.html\n(https://www.prnewswire.com/news-releases/aardvark-therapeutics-aard-faces-investor-scrutiny-amid-56-drop-on-clinical-pause-for-lead-drug-candidate-hagens-berman-302750579.html)\n\nSOURCE Hagens Berman Sobol Shapiro LLP\n\n\n\nReed Kathrein, 844-916-0895\n\nPhoto: \nhttps://mma.prnewswire.com/media/2590203/Hagens_Berman_Sobol_Shapiro_LLP_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn6zDbsZa","title":"Aardvark Therapeutics (AARD) Faces Investor Scrutiny Amid 56% Drop On Clinical Pause For Lead Drug Candidate- Hagens Berman","author":"PR Newswire","ticker":"AARD","created":"2026-04-22T18:25:00.019Z","tickers":["AARD"],"exchange":"NASDAQ","article_body":"Aardvark Therapeutics (AARD) Faces Investor Scrutiny Amid 56% Drop On Clinical Pause For Lead Drug Candidate- Hagens Berman\n\nPR Newswire\n\nSAN FRANCISCO, April 22, 2026\n\nSAN FRANCISCO, April 22, 2026 /PRNewswire/ - On March 2, 2026, investors in\nAardvark Therapeutics (NASDAQ: AARD) saw the price of their shares crater\n$7.02 (-56%) after the company announced that it stopped its Phase 3 Hunger\nElimination of Reduction Objective (\"HERO\") trial evaluating the efficacy and\nsafety of ARD-101 as a treatment for hyperphagia (insatiable hunger) in\npatients with Prader-Willi Syndrome (\"PWS\").\n\n(https://mma.prnewswire.com/media/2590203/Hagens_Berman_Sobol_Shapiro_LLP_Logo.html)\n\nThe development and severe market reaction have prompted national shareholder\nrights firm Hagens Berman to open an investigation into whether Aardvark may\nhave misled investors in violation of federal securities laws.  The firm\nencourages Aardvark investors who suffered substantial losses to submit your\nlosses now\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1570991487&u=https%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2Faard&a=submit+your+losses+now)\n.\n\nThe firm also encourages persons with knowledge who may be able to assist the\ninvestigation to contact its attorneys.\n\nVisit: www.hbsslaw.com/investor-fraud/aard\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1286612866&u=https%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2Faard&a=www.hbsslaw.com%2Finvestor-fraud%2Faard)\n\nContact the Firm Now: AARD@hbsslaw.com (mailto:AARD@hbsslaw.com)\n                                        844-916-0895\n\nAardvark Therapeutics (AARD) Investigation:\n\nThe investigation is focused on the propriety of Aardvark's disclosures about\nARD-101 safety and efficacy data, along with disclosures regarding\ncommunications with the FDA.\n\nIn the past, Aardvark has emphasized that ARD-101 represented a\n\"first-in-class\" drug and that, \"through alignment with the FDA,\" it started\nHERO patients 13 years and older, moved to dosing patients 10 years and older,\nand intended to dose patients as young as 4 years old.\n\nThe company has also assured investors that ARD-101 has \"a very tolerable\nsafety profile.\"\n\nInvestors' expectations were dashed on March 2, 2026. That day, Aardvark\nabruptly announced that it was pausing the HERO trial. The company said its\ndecision was based on a serious safety risk – namely, \"reversible cardiac\nobservations[.]\" Aardvark also said that it no longer anticipates announcing\ntopline data from the HERO trial during the third quarter of 2026.\n\nThe market swiftly reacted, sending the price of Aardvark shares down by over\nhalf and, with the emergence of cardiac safety signals, reportedly prompting\nseveral analysts to sharply reduce or suspend their price targets.\n\n\"We're focused on whether Aardvark may have misled investors about ARD-101's\ndevelopment, its safety and/or efficacy, and the company's communications with\nthe FDA,\" said Reed Kathrein\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1321380244&u=https%3A%2F%2Fwww.hbsslaw.com%2Fattorneys%2Freed-kathrein&a=Reed+Kathrein)\n, the Hagens Berman partner leading the firm's investigation.\n\nIf you invested in Aardvark Therapeutics and have substantial losses, or have\nknowledge that will assist the firm's investigation, submit your losses now\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1570991487&u=https%3A%2F%2Fwww.hbsslaw.com%2Finvestor-fraud%2Faard&a=submit+your+losses+now)\n.\n\nIf you'd like more information and answers to frequently asked questions about\nthe firm's Aardvark investigation, read more »\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=1971599653&u=https%3A%2F%2Fwww.hbsslaw.com%2Fcases%2Faardvark-therapeutics-inc-aard-investigation&a=read+more+%C2%BB)\n\nWhistleblowers: Persons with non-public information regarding Aardvark\nTherapeutics should consider their options to help in the investigation or\ntake advantage of the SEC Whistleblower program. Under the new program,\nwhistleblowers who provide original information may receive rewards totaling\nup to 30 percent of any successful recovery made by the SEC. For more\ninformation, call Reed Kathrein at 844-916-0895 or email AARD@hbsslaw.com\n(mailto:AARD@hbsslaw.com) .\n\nAbout Hagens Berman\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=3574651888&u=https%3A%2F%2Fwww.hbsslaw.com%2F&a=About+Hagens+Berman)\n\nHagens Berman is a global plaintiffs' rights complex litigation firm focusing\non corporate accountability. The firm is home to a robust practice and\nrepresents investors as well as whistleblowers, workers, consumers and others\nin cases achieving real results for those harmed by corporate negligence and\nother wrongdoings. Hagens Berman's team has secured more than $2.9 billion in\nthis area of law. More about the firm and its successes can be found\nat hbsslaw.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=816330441&u=https%3A%2F%2Fwww.hbsslaw.com%2F&a=hbsslaw.com)\n. Follow the firm for updates and news at @ClassActionLaw\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4670896-1&h=171309511&u=https%3A%2F%2Fwww.twitter.com%2FClassActionLaw&a=%40ClassActionLaw)\n.\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/aardvark-therapeutics-aard-faces-investor-scrutiny-amid-56-drop-on-clinical-pause-for-lead-drug-candidate-hagens-berman-302750579.html\n(https://www.prnewswire.com/news-releases/aardvark-therapeutics-aard-faces-investor-scrutiny-amid-56-drop-on-clinical-pause-for-lead-drug-candidate-hagens-berman-302750579.html)\n\nSOURCE Hagens Berman Sobol Shapiro LLP\n\n\n\nReed Kathrein, 844-916-0895\n\nPhoto: \nhttps://mma.prnewswire.com/media/2590203/Hagens_Berman_Sobol_Shapiro_LLP_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-04-22T18:25:00.081459618Z","server_sent_at_ms":1776882300081},"received_at":"2026-04-22T18:25:00.275Z","source_url":null},"analysis":{"id":"3850","press_release_id":"5291","analysis_json":{"industry":{"label":"Pharmaceuticals, Biotechnology & Life Sciences","sector":"Health Care"},"redFlags":["Phase 3 trial paused due to cardiac safety signals","56% single-day stock price decline","Federal securities law investigation opened into potential misleading disclosures"],"eventType":"clinical_trial","narrative":"Aardvark Therapeutics paused its Phase 3 HERO trial for lead candidate ARD-101 following the identification of serious cardiac safety risks, described by the company as 'reversible cardiac observations.'\n\nThe announcement on March 2 caused a 56% collapse in share price and has led to a federal investigation into whether the company misled investors regarding the drug's safety profile and FDA communications.\n\nConsequently, the company no longer anticipates announcing topline data in the third quarter of 2026, contradicting previous assurances of a tolerable safety profile.","sentiment":"bearish","agentHooks":{"shouldPost":true,"suggestedAngle":"Clinical hold on lead asset ARD-101 triggers 56% crash and securities fraud investigation."},"keyFigures":{"drugName":"ARD-101","phaseOfTrial":"Phase 3","customDimensions":{"date_of_pause":"March 2, 2026","stock_drop_value":"$7.02","stock_drop_percent":"56%"}},"quotedText":"We're focused on whether Aardvark may have misled investors about ARD-101's development, its safety and/or efficacy, and the company's communications with the FDA","namedEntities":{"people":[{"name":"Reed Kathrein","role":"Partner, Hagens Berman"}],"products":["ARD-101"],"companies":[{"name":"Aardvark Therapeutics","ticker":"AARD"},{"name":"Hagens Berman Sobol Shapiro LLP","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$7.02","context":"share price decline"}]},"materialImpact":{"score":5,"reasoning":"The company's lead asset ARD-101 suffered a Phase 3 clinical hold due to cardiac safety signals, triggering a massive 56% single-day stock decline and prompting a federal securities investigation."},"tickerRelevance":{"others":[],"primary":"AARD"},"eventTypeSecondary":["legal_litigation"]},"event_type":"clinical_trial","event_type_secondary":["legal_litigation"],"sentiment":"bearish","material_impact_score":5,"narrative":"Aardvark Therapeutics paused its Phase 3 HERO trial for lead candidate ARD-101 following the identification of serious cardiac safety risks, described by the company as 'reversible cardiac observations.'\n\nThe announcement on March 2 caused a 56% collapse in share price and has led to a federal investigation into whether the company misled investors regarding the drug's safety profile and FDA communications.\n\nConsequently, the company no longer anticipates announcing topline data in the third quarter of 2026, contradicting previous assurances of a tolerable safety profile.","key_figures":{"drugName":"ARD-101","phaseOfTrial":"Phase 3","customDimensions":{"date_of_pause":"March 2, 2026","stock_drop_value":"$7.02","stock_drop_percent":"56%"}},"named_entities":{"people":[{"name":"Reed Kathrein","role":"Partner, Hagens Berman"}],"products":["ARD-101"],"companies":[{"name":"Aardvark Therapeutics","ticker":"AARD"},{"name":"Hagens Berman Sobol Shapiro LLP","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$7.02","context":"share price decline"}]},"model_name":"glm-4.7","prompt_hash":"sha256:2f2748f0fcc8c4f2","schema_hash":"sha256:ad96b863d7123008","created_at":"2026-04-22T21:00:52.260Z","global_importance":3,"audience_relevance":3,"importance_components":{"method":"backfill-heuristic","signals":{"bodyLong":false,"headlineTier1":false,"tickerCovered":false,"hadSignificance":false},"version":1,"computedAt":"2026-04-27T11:52:54.361Z"}},"durationMs":250663,"modelName":"glm-4.7"}}