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Aardvark Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)

1. Aardvark granted stock options to multiple new employees. 2. Options include 23,602 and 49,849 shares across different dates. 3. Stock options vest over four years, promoting employee retention. 4. Aardvark's lead compound, ARD-101, is in Phase 3 for PWS. 5. Company focuses on treating metabolic diseases through novel therapeutics.

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Why Bullish?

The grant of stock options can enhance employee motivation and retention, driving performance and productivity. Successful Phase 3 results for ARD-101 could further boost investor confidence and share prices, similar to how Biogen’s successful drug announcements affected its stock positively in past instances.

How important is it?

The grant of stock options indicates internal confidence in employee contribution to product success. Given Aardvark’s clinical trials, employee engagement might directly influence clinical outcomes, making this news significant for investors.

Why Long Term?

The impact from the new stock options is expected to yield benefits over multiple years as the options vest. Additionally, prolonged research and development phases can lead to substantial gains, much like the sustained growth seen by companies successfully navigating late-stage trials.

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SAN DIEGO, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Aardvark Therapeutics, Inc. (Aardvark) (Nasdaq: AARD), a clinical-stage biopharmaceutical company focused on developing novel, small-molecule therapeutics for the treatment of metabolic diseases, today announced that (i) on October 20, 2025, one new employee was granted an inducement award consisting of a stock option to purchase 23,602 shares of common stock, (ii) on October 28, 2025, three new employees were granted inducement awards consisting of stock options to purchase an aggregate of 49,849 shares of common stock and (iii) on November 3, 2025, one new employee was granted an inducement award consisting of a stock option to purchase 14,766 shares of common stock. Each option was granted pursuant to the Aardvark Therapeutics, Inc. 2025 Inducement Equity Incentive Plan, and was granted as an inducement material to each employee’s employment with Aardvark in accordance with Nasdaq Listing Rule 5635(c)(4). The exercise price of each option is equal to the closing price of Aardvark’s common stock on the date of grant, or $12.28, $12.00 and $10.39 on October 20, 2025, October 28, 2025 and November 3, 2025, respectively. Each option will vest over four years, with 25% of the total number of shares vesting on the one year anniversary of the date of commencement of such employee’s employment with Aardvark and 1/48th of the total number of shares subject to each option vesting monthly thereafter, subject to continued employment. About Aardvark Therapeutics, Inc.Aardvark is a clinical-stage biopharmaceutical company developing novel, small-molecule therapeutics designed to suppress hunger for the treatment of Prader-Willi Syndrome and metabolic diseases. Recognizing hunger (the discomfort from not having eaten recently) is a distinct neural signaling pathway separate from appetite (the reward-seeking, desirability of food). Our programs explore therapeutic applications in hunger-associated indications and potential complementary uses with anti-appetite therapies. Our lead compound, oral ARD-101, is in Phase 3 clinical development for the treatment of hyperphagia associated with PWS, a rare disease characterized by insatiable hunger. Aardvark is also developing ARD-201, a planned fixed-dose combination of ARD-101 with a DPP-4 inhibitor, with a goal of addressing some of the limitations of currently marketed GLP-1 therapies for the treatment of obesity and obesity-related conditions. For more information, visit aardvarktherapeutics.com. Contact:Carolyn Hawley, Inizio Evoke Comms(619) 849-5382Carolyn.hawley@inizioevoke.com

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