Aardvark's Hunger Suppressing Drug Candidate Could Potentially Address Massive $10 Billion Market: Analyst

Core Insights - Aardvark Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule therapeutics for Prader-Willi Syndrome (PWS) and metabolic diseases [1] - The lead compound, ARD-101, is currently in Phase 3 clinical development for hyperphagia associated with PWS, with the first patient dosed in Australia [1][2] - Regulatory clearance for clinical trial site enrollment has been obtained in Canada and the United Kingdom [2] Clinical Development - Aardvark's Phase 3 HERO clinical trial for ARD-101 is progressing well, with strong enrollment in the U.S. and international expansion [3] - Topline data readout for the clinical trial is anticipated in the third quarter of 2026 [3] Market Opportunity - The global total addressable market (TAM) for PWS is estimated at approximately $10 billion, with only one approved treatment currently available [4] - Aardvark is also developing ARD-201, a fixed-dose combination therapy, which could target a TAM of at least $100 billion [5] Financial Position - There is a notable disconnect between Aardvark's current market value of $304 million and the potential of its lead program ARD-101 [6] - The company has cash, cash equivalents, and short-term investments totaling $126.4 million, sufficient to fund operations into 2027 [6] Stock Performance - Aardvark Therapeutics shares experienced a decline of 6.28%, trading at $14.63 at the time of publication [6]