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Just saw Aardvark Therapeutics (AARD) got hit pretty hard today - stock dropped almost 47% in after-hours trading. Turns out they had to pause their Phase 3 trial for ARD-101, which was supposed to treat hyperphagia in Prader-Willi Syndrome patients. The reason? They found some reversible cardiac issues during safety monitoring at higher doses in a healthy volunteer study, which is definitely concerning enough to pump the brakes on enrollment.
The HERO trial was their main shot, and they were originally planning to release data in Q3 2026. Now they're saying they'll give an update in Q2 instead, once they finish reviewing the whole ARD-101 program. It's one of those situations where the company is being cautious, which makes sense from a safety standpoint, but the market clearly didn't like seeing a Prader-Willi treatment candidate get paused mid-phase. Biotech is brutal like that - one safety flag and suddenly you're looking at a 50% haircut. Anyone else holding this or following the Prader-Willi space?