AARD SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Reminds Aardvark (AARD) Investors of Securities Class Action Lawsuit Deadline on October 13, 2026

NEW YORK--(BUSINESS WIRE)--Aug 16, 2026--

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Aardvark Therapeutics, Inc. (“Aardvark” or the “Company”) (NASDAQ: AARD) and reminds investors of the October 13, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (1) ARD-101 was less safe than Defendants had led investors to believe; (2) accordingly, ARD-101’s clinical, regulatory, and commercial prospects were overstated; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On February 13, 2025, Aardvark filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the “Prospectus” and, collectively with the Registration Statement, the “Offering Documents”). The same day, Aardvark’s common stock began publicly trading on the Nasdaq Global Select Market (“NASDAQ”) under the ticker symbol “AARD”. Pursuant to the Offering Documents, Aardvark issued 5,888,000 shares of its common stock to the public at the Offering price of $16.00 per share for proceeds of $87,613,440, after underwriting discounts and commissions.

The truth began to emerge on February 27, 2026, when Aardvark issued a press release “announc[ing] it is voluntarily pausing the Phase 3 Hunger Elimination or Reduction Objective (HERO) trial.” Aardvark attributed the decision to “reversible cardiac observations at above target therapeutic doses found during routine safety monitoring in a healthy volunteer study” and said that it “has voluntarily paused ongoing enrollment and dosing in the HERO trial” while “conducting a comprehensive review of the data to inform next steps.”

On this news, Aardvark’s stock price fell $7.02 per share, or 56.2%, to close at $5.47 per share on March 2, 2026.

Then, on May 14, 2026, Aardvark issued a press release “announc[ing] that the U.S. Food and Drug Administration (FDA) has placed a full clinical hold on its investigational new drug application (IND) for ARD-101 related to the Company’s previously announced voluntary pause.” The press release specified that “[t]he clinical hold applies to all ongoing clinical studies under the IND, including the Phase 3 HERO trial (AVK-101-301) evaluating ARD-101 for the treatment of hyperphagia in patients with Prader-Willi Syndrome (PWS) and the Phase 3 open-label extension (OLE) trial (AVK-101-302).”

On this news, Aardvark’s stock price fell $2.16 per share, or 32.1%, to close at $4.57 per share on May 15, 2026.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Aardvark’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Aardvark Therapeutics class action, go to www.faruqilaw.com/AARD or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Frequently Asked Questions (FAQ) for Investors Regarding the Aardvark Therapeutics Securities Class Action Lawsuit:

What is the Aardvark Therapeutics securities fraud lawsuit about?

The lawsuit alleges Aardvark’s IPO documents and public statements misled investors about ARD-101’s safety and overstated its clinical, regulatory, and commercial prospects.

Who may be eligible to participate in the lawsuit?

Investors who acquired Aardvark (NASDAQ: AARD) shares in its February 2025 IPO or securities between February 13, 2025 and May 14, 2026 may be eligible if they suffered losses.

What is a lead plaintiff, and how can I seek appointment?

A lead plaintiff represents the proposed class during the litigation. Eligible investors must file a motion with the court by October 13, 2026. Investors may participate without serving as lead plaintiff.

Why should investors contact Faruqi & Faruqi, LLP?

Faruqi & Faruqi, LLP has represented investors in securities litigation for decades and has recovered hundreds of millions of dollars for shareholders. Investors who purchased Aardvark Therapeutics securities during the Class Period may contact the firm to discuss their legal rights, potential claims, and the lead plaintiff process at no cost or obligation.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

AARD SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Reminds Aardvark (AARD) Investors of Securities Class Action Lawsuit Deadline on October 13, 2026

Hurricane Lala weakened to a tropical storm Sunday after skirting Hawaii without making landfall, but it wasn't done punishing the Big Island with hurricane-force gusts. Total rainfall of nearly three feet (one meter) was expected on the higher windward slopes, turning rivers into raging torrents and threatening mudslides.

Tropical storm conditions were spreading westward Sunday from Maui to Oahu and then Kauai, and the National Hurricane Center warned that wind speeds atop mountains and on the windward and leeward slopes are often up to 30% stronger than the near-surface winds used to categorize storms.

Powerful waves pounded the Big Island’s coast as Lala slowly passed by. Howling winds whipped palm trees and waterways swelled with fast-moving runoff from relentless rain that blew nearly sideways.

More than 130,000 households were without power Sunday morning across Hawaii's three largest islands, according to the utility tracker poweroutage.us. At least three hospitals were operating on generator power, Gov. Josh Green said.

At least one person died in a car accident in the South Point area of the Big Island, while 19 roofs were lost in the “enormous storm,” the governor said Saturday evening. “There have been a lot of roads impacted, our crews have already been out to more than 30 sites."

A search-and-rescue mission including Civil Defense, the National Guard and Coast Guard was launched after flash floods apparently swept several occupied homes off their foundations in the coastal communities of Na'alehu and Wai'ohinu, near the island's southern tip, Hawaii County Mayor Kimo Alameda said early Sunday.

“What makes this very challenging is that there's rushing water, there's debris, and there's boulders on the road and it's dark,” Alameda said.

Tropical storm warnings were in effect for the islands of Maui, Molokai, Lanai, Kahoolawe, Oahu, Kauai and Niihau as the storm moves west, raising the possibility of destructive flooding and even wildfires kicked up by strong winds.

As of 2 a.m. Sunday in Hawaii, Lala was centered about 105 miles (170 kilometers) west-northwest of Kailua-Kona and about 100 miles (160 kilometers) south of Honolulu, with tropical-storm-force winds extending as much as 175 miles (280 km) from its center.

Lala was sustaining top winds of 70 mph (110 kph) and moving northwest at about 15 mph (24 kmh). Forecasters expect it to regain hurricane strength midweek once it's well west of the island chain.

By the time Lala's completely gone, some higher-altitude places on the Big Island, dominated by the towering Mauna Kea volcano, will have been hit with as much as 35 inches (89 centimeters) of rain, forecasters said, enough to loosen steep slopes where some of the 210,000 islanders live off the grid in improvised housing.

As the hurricane approached, shelters were opened, events were canceled and ranchers were urged to leave their cattle in pastures rather than structures that might collapse. Many residents are still dealing with the aftermath of devastating floods in March and were taking precautions.

Bobby Camara, a 75-year-old lifelong resident, said he planned to “hunker down, cross my fingers, hope the lights don’t go out” at a care home just outside Hilo. He said gas stations were busy as people sought fuel for chain saws and vehicles.

“I think stocking up is part of life over here. ... You learn to be self-reliant,” Camara said.

Mike Caputo, who lives in Keaau, near the Big Island's east coast, said his power generator was ready and a 10,000-gallon (37.8 kiloliter) home water tank was full. His main concern was flash flooding and fallen trees, especially albizia, a common tree.

“They’re not very sturdy, but they grow extremely large,” said Caputo, 50, a local fire captain. “They can make roads impassable."

Christine Matsuda, who lives in Waimea, on the northern side of the island, said “big gusts every few minutes rattle the whole house.”

“We're finding unexpected leaks in places that don't see water under normal conditions,” Matsuda said.

The hurricane center predicted 8 to 12 inches (20.3 to 30.5 centimeters) of total rainfall across Maui and the lower elevations of the Big Island, and 4 to 6 inches (10.2 to 15.2 centimeters) across the island chain.

Associated Press writer Jennifer Sinco Kelleher in Honolulu contributed.

This satellite image released by NOAA shows Tropical Storm Lala over the Pacific Ocean, near Hawaii, Saturday, Aug. 15, 2026. (NOAA via AP)

A resident carries supplies to a vehicle during Hurricane Lala in Hawaiian Ocean View, Hawaii, Saturday, Aug. 15, 2026. (Stephen Lam/San Francisco Chronicle via AP)

A vehicle drives near a downed utility pole dangling above Mamalahoa Highway during Hurricane Lala near Ocean View, Hawaii, Saturday, Aug. 15, 2026. (Stephen Lam/San Francisco Chronicle via AP)

A view of the rising water levels at the Wainaku Street Bridge in Hilo on the Big Island of Hawaii, Saturday, Aug. 15, 2026. (Taylor Cozloff/Civil Beat via AP)

A resident carries supplies during Hurricane Lala in Hawaiian Ocean View, Hawaii, Saturday, Aug. 15, 2026. (Stephen Lam/San Francisco Chronicle via AP)