The complaint filed by Robbins LLP targets Aardvark’s operations between February 13, 2025, and May 14, 2026. During this period, the clinical-stage biopharmaceutical firm promoted ARD-101 as a promising therapy for Prader-Willi Syndrome, a condition characterized by uncontrollable hunger. According to the lawsuit, these disclosures failed to account for safety risks that later derailed the firm's major clinical trials.
Aardvark Therapeutics Faces Class Action Lawsuit Over Drug Safety
Investors are lining up to join a class action lawsuit against Aardvark Therapeutics, Inc. following a series of clinical setbacks for its lead drug candidate, ARD-101. The litigation claims the company misled shareholders about the safety and commercial viability of the treatment, triggering significant stock price collapses in early 2026.
Trouble surfaced on February 27, 2026, when Aardvark voluntarily paused its Phase 3 HERO trial, citing "reversible cardiac observations" identified during safety monitoring. The announcement triggered a 56.2% drop in the company's share price. The situation deteriorated further on May 14, 2026, when the FDA issued a full clinical hold on the company’s investigational new drug application. This regulatory intervention caused shares to fall an additional 32.1%. Robbins LLP, which represents investors on a contingency basis, notes that prospective lead plaintiffs must file their applications by October 13, 2026.
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