Complete Filing Data
Aardvark Therapeutics, Inc. reported Stockholders Equity of $106.63 million for FY2025.
All values from 10-K, 20-F, and 10-Q filings on SEC EDGAR, organized by financial statement. Scroll each table horizontally for the full history. Blank cells mean Aardvark Therapeutics, Inc. did not report that metric for that period in XBRL — often because accounting standards changed which tag a company files under (for example, most companies moved revenue to the ASC-606 tag in 2018), so a metric may continue in a different row. Rows marked * merge those successor tags into one continuous series, preferring the audited value from the newest-standard tag where periods overlap.
Income Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 |
|---|---|---|
| Research And Development Expense | $48.9M | $17.4M |
| Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax | $81.0K | $0.00 |
| Operating Income Loss | -$62.7M | -$22.8M |
| Operating Expenses | $62.7M | $22.8M |
| Nonoperating Income Expense | $5.1M | $2.2M |
| Net Income Loss | -$57.6M | -$20.6M |
| General And Administrative Expense | $13.8M | $5.3M |
| Comprehensive Income Net Of Tax | -$57.5M | -$20.6M |
| Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax | $81.0K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|
| Research And Development Expense | $13.7M | $13.1M | $7.8M | $4.1M | $4.0M | $1.2M |
| Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax | $85.0K | -$47.0K | $44.0K | $0.00 | $0.00 | $0.00 |
| Operating Income Loss | -$17.7M | -$15.8M | -$10.5M | -$5.1M | -$6.1M | -$2.2M |
| Operating Expenses | $17.7M | $15.8M | $10.5M | $5.1M | $6.1M | $2.2M |
| Nonoperating Income Expense | $1.4M | $1.5M | $1.2M | $909.0K | $624.0K | -$7.0K |
| Net Income Loss | -$16.3M | -$14.4M | -$9.3M | -$4.2M | -$5.4M | -$2.2M |
| General And Administrative Expense | $4.0M | $2.7M | $2.7M | $1.0M | $2.0M | $861.0K |
| Comprehensive Income Net Of Tax | -$16.2M | -$14.4M | -$9.3M | -$4.2M | -$5.4M | -$2.2M |
| Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax | $85.0K | -$47.0K | $44.0K |
Balance Sheet
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Stockholders Equity | $106.6M | -$54.6M | -$34.8M |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $47.1M | $61.6M | $9.7M |
| Unrealized Gain Loss On Investments | -$5.0K | -$217.0K | |
| Temporary Equity Liquidation Preference | $0.00 | $129.1M | |
| Temporary Equity Carrying Amount Attributable To Parent | $0.00 | $126.8M | |
| Short Term Investments | $63.0M | $12.0M | |
| Retained Earnings Accumulated Deficit | -$115.9M | -$58.3M | |
| Prepaid Expense And Other Assets Current | $1.9M | $474.0K | |
| Preferred Stock Value | $0.00 | $0.00 | |
| Other Liabilities Noncurrent | $0.00 | $26.0K | |
| Other Assets Noncurrent | $4.9M | $2.6M | |
| Operating Lease Right Of Use Asset | $355.0K | $735.0K | |
| Operating Lease Liability Noncurrent | $0.00 | $441.0K | |
| Operating Lease Liability Current | $441.0K | $338.0K | |
| Liabilities Current | $10.5M | $4.9M | |
| Liabilities And Stockholders Equity | $117.2M | $77.5M | |
| Liabilities | $10.5M | $5.4M | |
| Lessee Operating Non Cash Lease Expense | $380.0K | $235.0K | |
| Conversion Of Convertible Preferred Stock Into Common Stock Upon Initial Public Offering | $126.8M | $0.00 | |
| Common Stock Value | $0.00 | $0.00 | |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect | -$14.6M | $51.9M | |
| Cash And Cash Equivalents At Carrying Value | $47.1M | $61.6M | |
| Assets Current | $111.9M | $74.1M | |
| Assets | $117.2M | $77.5M | |
| Additional Paid In Capital Common Stock | $222.5M | $3.7M | |
| Accumulated Other Comprehensive Income Loss Net Of Tax | $81.0K | $0.00 | |
| Accrued Liabilities Current | $8.0M | $2.3M | |
| Accretion Amortization Of Discounts And Premiums Investments | $1.3M | $96.0K | |
| Accounts Payable Current | $2.1M | $2.3M | |
| Payment Of Convertible Preferred Stock Financing Cost | $0.00 | $2.1M |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|
| Stockholders Equity | $122.4M | $136.9M | $150.7M | -$46.2M | -$42.3M | -$36.9M |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $39.3M | $26.0M | $26.5M | $82.3M | $86.2M | $7.5M |
| Unrealized Gain Loss On Investments | $36.0K | -$7.0K | -$15.0K | -$91.0K | $30.0K | -$110.0K |
| Temporary Equity Liquidation Preference | $0.00 | $0.00 | $0.00 | |||
| Temporary Equity Carrying Amount Attributable To Parent | $0.00 | $0.00 | $0.00 | |||
| Short Term Investments | $87.1M | $115.8M | $124.8M | |||
| Retained Earnings Accumulated Deficit | -$98.3M | -$82.0M | -$67.6M | |||
| Prepaid Expense And Other Assets Current | $2.9M | $2.9M | $3.3M | |||
| Preferred Stock Value | $0.00 | $0.00 | $0.00 | |||
| Other Liabilities Noncurrent | $0.00 | $12.0K | $24.0K | |||
| Other Assets Noncurrent | $3.6M | $2.2M | $1.8M | |||
| Operating Lease Right Of Use Asset | $439.0K | $522.0K | $628.0K | |||
| Operating Lease Liability Noncurrent | $116.0K | $228.0K | $336.0K | |||
| Operating Lease Liability Current | $429.0K | $417.0K | $390.0K | |||
| Liabilities Current | $10.7M | $10.3M | $6.0M | |||
| Liabilities And Stockholders Equity | $133.2M | $147.5M | $157.0M | |||
| Liabilities | $10.9M | $10.6M | $6.3M | |||
| Lessee Operating Non Cash Lease Expense | $107.0K | $25.0K | ||||
| Conversion Of Convertible Preferred Stock Into Common Stock Upon Initial Public Offering | $126.8M | $0.00 | ||||
| Common Stock Value | $0.00 | $0.00 | $0.00 | |||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect | -$35.1M | -$2.2M | ||||
| Cash And Cash Equivalents At Carrying Value | $39.3M | $26.0M | $26.5M | |||
| Assets Current | $129.2M | $144.8M | $154.6M | |||
| Assets | $133.2M | $147.5M | $157.0M | |||
| Additional Paid In Capital Common Stock | $220.6M | $218.9M | $218.3M | |||
| Accumulated Other Comprehensive Income Loss Net Of Tax | $82.0K | -$3.0K | $44.0K | |||
| Accrued Liabilities Current | $5.9M | $4.8M | $3.0M | |||
| Accretion Amortization Of Discounts And Premiums Investments | $81.0K | $0.00 | ||||
| Accounts Payable Current | $4.4M | $5.1M | $2.6M | |||
| Payment Of Convertible Preferred Stock Financing Cost |
Cash Flow Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 |
|---|---|---|
| Share Based Compensation | $3.9M | $439.0K |
| Proceeds From Stock Options Exercised | $366.0K | $332.0K |
| Proceeds From Sale Maturity And Collection Of Shortterm Investments | $80.0M | $0.00 |
| Proceeds From Issuance Initial Public Offering | $91.1M | $0.00 |
| Payments To Acquire Short Term Investments | $129.6M | $11.9M |
| Payments To Acquire Property Plant And Equipment | $95.0K | $109.0K |
| Payments Of Stock Issuance Costs | $2.4M | $0.00 |
| Net Cash Provided By Used In Operating Activities | -$54.2M | -$18.1M |
| Net Cash Provided By Used In Investing Activities | -$49.7M | -$12.0M |
| Net Cash Provided By Used In Financing Activities | $89.2M | $82.0M |
| Increase Decrease In Prepaid Deferred Expense And Other Assets | $6.0M | $412.0K |
| Increase Decrease In Operating Lease Liability | -$338.0K | -$198.0K |
| Increase Decrease In Accrued Liabilities | $6.4M | $1.4M |
| Increase Decrease In Accounts Payable | $239.0K | $798.0K |
| Depreciation Depletion And Amortization | $36.0K | $16.0K |
| Proceeds From Issuance Of Convertible Preferred Stock | $0.00 | $85.0M |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q1 2025 | Q1 2024 |
|---|---|---|
| Share Based Compensation | $233.0K | $67.0K |
| Proceeds From Stock Options Exercised | $110.0K | $0.00 |
| Proceeds From Sale Maturity And Collection Of Shortterm Investments | $12.0M | $0.00 |
| Proceeds From Issuance Initial Public Offering | $91.1M | $0.00 |
| Payments To Acquire Short Term Investments | $124.7M | $0.00 |
| Payments To Acquire Property Plant And Equipment | $0.00 | $5.0K |
| Payments Of Stock Issuance Costs | $2.3M | $0.00 |
| Net Cash Provided By Used In Operating Activities | -$11.4M | -$2.2M |
| Net Cash Provided By Used In Investing Activities | -$112.6M | -$5.0K |
| Net Cash Provided By Used In Financing Activities | $88.9M | $0.00 |
| Increase Decrease In Prepaid Deferred Expense And Other Assets | $4.4M | $332.0K |
| Increase Decrease In Operating Lease Liability | -$53.0K | -$27.0K |
| Increase Decrease In Accrued Liabilities | $1.4M | $485.0K |
| Increase Decrease In Accounts Payable | $648.0K | -$445.0K |
| Depreciation Depletion And Amortization | $5.0K | $2.0K |
| Proceeds From Issuance Of Convertible Preferred Stock |
Per-Share & Share Counts
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 |
|---|---|---|
| Weighted Average Number Of Shares Outstanding Basic | 19.6M | 4.0M |
| Weighted Average Number Of Diluted Shares Outstanding | 19.6M | 4.0M |
| Earnings Per Share Diluted | $-2.93 | $-5.15 |
| Earnings Per Share Basic | $-2.93 | $-5.15 |
| Temporary Equity Shares Outstanding | 0.00 | 96.9M |
| Temporary Equity Shares Issued | 0.00 | 96.9M |
| Temporary Equity Shares Authorized | 0.00 | 96.9M |
| Temporary Equity Par Or Stated Value Per Share | $0.00 | $0.00 |
| Preferred Stock Shares Outstanding | 0.00 | 0.00 |
| Preferred Stock Shares Issued | 0.00 | 0.00 |
| Preferred Stock Shares Authorized | 10.0M | 0.00 |
| Common Stock Shares Outstanding | 21.8M | 4.1M |
| Common Stock Shares Issued | 21.8M | 4.1M |
| Common Stock Shares Authorized | 490.0M | 157.2M |
| Common Stock Par Or Stated Value Per Share | $0.00 | $0.00 |
| Preferred Stock Par Or Stated Value Per Share | $0.00 | $0.00 |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|
| Weighted Average Number Of Shares Outstanding Basic | 21.7M | 21.7M | 13.2M | 4.0M | 4.0M | 4.0M |
| Weighted Average Number Of Diluted Shares Outstanding | 21.7M | 21.7M | 13.2M | 4.0M | 4.0M | 4.0M |
| Earnings Per Share Diluted | $-0.75 | $-0.66 | $-0.71 | $-1.05 | $-1.37 | $-0.55 |
| Earnings Per Share Basic | $-0.75 | $-0.66 | $-0.71 | $-1.05 | $-1.37 | $-0.55 |
| Temporary Equity Shares Outstanding | 0.00 | 0.00 | 0.00 | |||
| Temporary Equity Shares Issued | 0.00 | 0.00 | 0.00 | |||
| Temporary Equity Shares Authorized | 0.00 | 0.00 | 0.00 | |||
| Temporary Equity Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | |||
| Preferred Stock Shares Outstanding | 0.00 | 0.00 | 0.00 | |||
| Preferred Stock Shares Issued | 0.00 | 0.00 | 0.00 | |||
| Preferred Stock Shares Authorized | 10.0M | 10.0M | 10.0M | |||
| Common Stock Shares Outstanding | 21.7M | 21.7M | 21.7M | |||
| Common Stock Shares Issued | 21.7M | 21.7M | 21.7M | |||
| Common Stock Shares Authorized | 490.0M | 490.0M | 490.0M | |||
| Common Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | |||
| Preferred Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 |
Other Metrics
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 |
|---|---|---|
| Stock Issued During Period Value Vesting Of Early Exercised Stock Options | $37.0K | $8.0K |
| Provision For Doubtful Accounts | $0.00 | $117.0K |
| Interest And Dividend Income Operating | $5.1M | $2.4M |
| Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value | $3.9M | $439.0K |
| Stock Issued During Period Value Stock Options Exercised | $355.0K | $300.0K |
| Stock Issued During Period Value Conversion Of Convertible Securities | $126.8M | |
| Stock Issued During Period Shares Vesting Of Early Exercised Stock Options | 11.4K | |
| Stock Issued During Period Shares Stock Options Exercised | 3.0K | |
| Public Offering Stock Issuance Costs | $10.4M |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|
| Stock Issued During Period Value Vesting Of Early Exercised Stock Options | $12.0K | $12.0K | $13.0K | $1.0K | $1.0K | $2.0K |
| Provision For Doubtful Accounts | $0.00 | $0.00 | $0.00 | $0.00 | $14.0K | $103.0K |
| Interest And Dividend Income Operating | $1.4M | $1.5M | $1.2M | $1.0M | $594.0K | $103.0K |
| Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value | $1.5M | $634.0K | $233.0K | $144.0K | $53.0K | $67.0K |
| Stock Issued During Period Value Stock Options Exercised | $171.0K | $4.0K | $101.0K | $169.0K | ||
| Stock Issued During Period Value Conversion Of Convertible Securities | $126.8M | |||||
| Stock Issued During Period Shares Vesting Of Early Exercised Stock Options | 3.6K | |||||
| Stock Issued During Period Shares Stock Options Exercised | 3.0K | |||||
| Public Offering Stock Issuance Costs | $10.4M |
Most recent annual filing with the SEC: March 23, 2026
Data sourced from SEC EDGAR public filings as of August 6, 2026.