A securities class action lawsuit has been filed in the U.S. District Court for the Southern District of California on behalf of investors who purchased Aardvark Therapeutics common stock pursuant to or traceable to the company’s February 13, 2025 initial public offering (IPO), or acquired Aardvark securities between February 13, 2025, and May 14, 2026, inclusive. Wolf Haldenstein Adler Freeman & Herz LLP alleges that Aardvark and other defendants failed to disclose that ARD-101 was less safe than represented, causing the drug’s clinical, regulatory and commercial prospects to be overstated. The complaint says the company’s statements were materially false and misleading. The alleged truth began emerging on February 27, 2026, when Aardvark said it was voluntarily pausing the Phase 3 Hunger Elimination or Reduction Objective (HERO) trial after reversible cardiac observations were found at above-target therapeutic doses during routine safety monitoring in a healthy volunteer study. Aardvark said it paused enrollment and dosing while reviewing the data. Its stock fell $7.02, or 56.2%, to close at $5.47 on March 2, 2026. The lead-plaintiff deadline is October 13, 2026. Investors who bought Aardvark shares during the class period and suffered losses may be eligible to participate.