IPO - Aardvark Therapeutics, Inc.

Form Type: 8-K

Filing Date: 2025-02-14

Corporate Action: Ipo

Type: New

Accession Number: 000119312525027245

Filing Summary: On February 14, 2025, Aardvark Therapeutics, Inc. filed its fourth amended and restated certificate of incorporation with the Secretary of State of Delaware as part of its initial public offering (IPO). The document details the authorization of 490,000,000 shares of common stock and the elimination of previous series of preferred stock. It also introduces 10,000,000 shares of undesignated preferred stock, regulations on removing directors, establishes a classified Board, and modifies stockholder actions and legal jurisdiction concerning securities litigation. On the same date, the Company completed its IPO, successfully issuing 5,888,000 shares at $16.00 each, accumulating gross proceeds of $94,208,000 before associated costs. Additionally, the amended and restated bylaws became effective, optimizing stockholder and director nomination processes and conforming to the new certificate's provisions.

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Form Type: 424B4

Filing Date: 2025-02-13

Corporate Action: Ipo

Type: New

Accession Number: 000119312525026060

Filing Summary: Aardvark Therapeutics, Inc. is conducting its initial public offering (IPO) of 5,888,000 shares of common stock at an initial offering price of $16.00 per share, aiming to raise approximately $94.2 million before expenses. The shares have been approved for listing on the Nasdaq Global Select Market under the symbol 'AARD'. The underwriting process involves Morgan Stanley, BofA Securities, Cantor, and RBC Capital Markets. Underwriters also have a 30-day option to purchase an additional 883,200 shares to cover any over-allotments. A portion of the shares is reserved for a directed share program for company executives and affiliates. The company is described as an 'emerging growth company' and 'smaller reporting company', indicating that it will benefit from reduced reporting requirements. The document outlines the business model, focusing on developing small-molecule therapeutics for metabolic diseases and details ongoing clinical trials for their lead product candidate, ARD-101, targeting hyperphagia associated with Prader-Willi Syndrome. The IPO is expected to help fund further development of its clinical pipeline and support operational needs as it currently reports significant net losses. Aardvark Therapeutics has raised $129.1 million to date, including an $85 million Series C financing completed in May 2024. The document emphasizes the need for future capital to achieve its development goals amid a competitive landscape in pharmaceuticals.

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Form Type: CORRESP

Filing Date: 2025-02-10

Corporate Action: Ipo

Type: New

Accession Number: 000119312525023543

Filing Summary: Aardvark Therapeutics, Inc. is requesting the acceleration of the effective date of its Registration Statement on Form S-1 (File No. 333-284440), which was originally filed on January 23, 2025. The company seeks for the registration to become effective at 4:00 p.m. Eastern Time on February 12, 2025, or as soon as possible thereafter. The request is in compliance with Rule 461 under the Securities Act of 1933. The company has authorized its outside counsel, Jeffrey T. Hartlin of Paul Hastings LLP, to modify or withdraw this request for acceleration as needed. The communication was sent to the United States Securities and Exchange Commission Division of Corporation Finance, marking a significant step towards its initial public offering.

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Form Type: CORRESP

Filing Date: 2025-02-10

Corporate Action: Ipo

Type: New

Accession Number: 000119312525023550

Filing Summary: Aardvark Therapeutics, Inc. (the 'Registrant') has submitted a correspondence to the SEC regarding its Registration Statement on Form S-1 (File No. 333-284440). The correspondence indicates that approximately 1,260 copies of the Preliminary Prospectus dated February 6, 2025, have been distributed to prospective underwriters, institutional investors, and dealers. The company and the participating underwriters have complied with all necessary requirements under the applicable rules of the Securities Exchange Act. The Registrant is requesting the acceleration of the effectiveness of the Registration Statement to 4:00 p.m. Eastern Time on February 12, 2025, or as soon as practicable thereafter.

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Form Type: 8-A12B

Filing Date: 2025-02-10

Corporate Action: Ipo

Type: New

Accession Number: 000119312525023571

Filing Summary: Aardvark Therapeutics, Inc., a Delaware corporation, is filing Form 8-A12B for the registration of its common stock with a par value of $0.00001 per share. The stock will be registered on The Nasdaq Stock Market LLC. This registration statement is related to the company's previous Registration Statement on Form S-1, filed with the SEC on January 23, 2025. There are no other securities registered on The Nasdaq Stock Market LLC, and no exhibits are included in this filing as they are not required. The filing is duly signed by Tien-Li Lee, M.D., the Chief Executive Officer of Aardvark Therapeutics, Inc.

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Form Type: S-1/A

Filing Date: 2025-02-06

Corporate Action: Ipo

Type: New

Accession Number: 000119312525021764

Filing Summary: Aardvark Therapeutics, Inc. is offering 5,888,000 shares of its common stock in this initial public offering (IPO), with an expected price range of $16.00 to $18.00 per share. The planned listing is on the Nasdaq Global Market under the symbol ‘AARD’. The company is a clinical-stage biopharmaceutical firm focusing on developing small-molecule therapeutics targeting metabolic diseases, specifically through activation of bitter taste receptors to alleviate hunger. Their lead product, ARD-101, is currently in a Phase 3 clinical trial for hyperphagia associated with Prader-Willi Syndrome and aims to evaluate another indication for hypothalamic obesity in a Phase 2 trial. Aardvark has reported net losses of $13.6 million and $7.2 million for the years ending December 31, 2022 and 2023, respectively, and anticipates ongoing financial losses as it progresses its development programs. The company has raised significant capital since its founding in 2017, reporting $129.1 million in funding to date, most recently raising $85 million in Series C financing in May 2024. It emphasizes its pipeline’s uniqueness due to a lack of other approved candidates targeting the same receptors.

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Form Type: CORRESP

Filing Date: 2025-01-31

Corporate Action: Ipo

Type: Update

Accession Number: 000119312525018390

Filing Summary: On January 31, 2025, Aardvark Therapeutics, Inc. submitted a confidential request for treatment regarding valuation considerations tied to its equity awards in relation to its upcoming initial public offering (IPO). This submission is a response to comments from the Securities and Exchange Commission (SEC) received on November 21, 2024, concerning the Company's Registration Statement on Form S-1, originally filed on October 24, 2024, and made public on January 23, 2025. The Company anticipates filing a pre-effective amendment to the Registration Statement that will include actual price ranges and reflect a stock split before the IPO. It also reveals an estimated preliminary price range of approximately $[***] to $[***] per share for its IPO, previously calculating the fair value of its common stock based on varied methods including the Black-Scholes Option Pricing Method and Probability-Weighted Expected Return Method. Valuations have been performed as of specific dates, showing a progression in estimated fair value leading up to the IPO, with recent valuations reflecting factors such as the Company’s financing progress, ongoing clinical trials, and favorable market conditions. The letter emphasizes the importance of confidentiality concerning sensitive information provided.

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Form Type: S-1

Filing Date: 2025-01-23

Corporate Action: Ipo

Type: New

Accession Number: 000119312525011499

Filing Summary: Aardvark Therapeutics, Inc. is conducting its initial public offering (IPO) of common stock. The company is a clinical-stage biopharmaceutical firm focused on developing small-molecule therapeutics targeting metabolic diseases, specifically those associated with hunger. Their lead product candidate, ARD-101, is currently undergoing a Phase 3 clinical trial for hyperphagia linked to Prader-Willi Syndrome (PWS) and is also being evaluated for other related conditions. The prospect highlights the company's financial history, reporting a net loss and requiring significant investment to progress its product pipeline. Aardvark's onboarding to the Nasdaq under the symbol 'AARD' is contingent on approval. The prospectus includes rare hyperphagias as a target market, aiming to differentiate itself in a competitive landscape populated by major pharmaceutical companies working on obesity treatments. The planned offering price and number of shares to be issued are under discussion.

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Form Type: DRS/A

Filing Date: 2024-12-23

Corporate Action: Ipo

Type: New

Accession Number: 000095012324012332

Filing Summary: Aardvark Therapeutics, Inc. has filed an amended draft registration statement that outlines their initial public offering (IPO) of shares of common stock. The company is focused on developing novel therapeutics for treating metabolic diseases, specifically targeting hyperphagia with their lead product candidate, ARD-101, which has begun a Phase 3 clinical trial. Aardvark Therapeutics is a clinical-stage biopharmaceutical company founded in 2017 and intends to list its common stock on the Nasdaq Global Market under the symbol 'AARD'. The document includes details on the intended pricing range for the shares and emphasizes the company's status as an emerging growth company. The registered share structure includes details about the underwriters and prospective financing strategies, and the company is actively seeking to raise additional capital to support its development programs.

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Form Type: DRS/A

Filing Date: 2024-11-27

Corporate Action: Ipo

Type: New

Accession Number: 000095012324012127

Filing Summary: Aardvark Therapeutics, Inc. is preparing for its initial public offering (IPO), as indicated in Document type DRS/A filed on November 27, 2024. This document elaborates on the registration statement that the company has confidentially submitted to the Securities and Exchange Commission (SEC). Aardvark is a clinical-stage biopharmaceutical firm developing novel therapeutics focusing on metabolic diseases and targets Bitter Taste Receptors (TAS2Rs) to address hunger-related conditions. The document emphasizes that the issuance of its common stock is contingent upon the listing approval on the Nasdaq under the symbol 'AARD'. This IPO is pivotal for the company to secure necessary financing for ongoing clinical trials and product development, particularly for its lead candidate ARD-101, aimed at treating hyperphagia linked to Prader-Willi Syndrome. Plans for further studies, including an anticipated Phase 3 trial for ARD-101, are discussed, showcasing the company’s strategy to advance its drugs through clinical stages to obtain market approval.

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Form Type: DRS

Filing Date: 2024-10-24

Corporate Action: Ipo

Type: New

Accession Number: 000095012324009882

Filing Summary: Aardvark Therapeutics, Inc. filed a draft registration statement with the SEC on October 24, 2024, for its initial public offering (IPO). The company is a clinical-stage biopharmaceutical entity focused on developing small-molecule therapeutics targeting metabolic diseases, particularly through the activation of Bitter Taste Receptors associated with hunger regulation. Their lead candidate, ARD-101, is poised for a Phase 3 clinical trial for hyperphagia associated with Prader-Willi Syndrome (PWS) and currently shows promise based on earlier studies. The firm also plans further evaluation of ARD-101 in the treatment of hyperphagia related to hypothalamic obesity (HO). Accompanying these trials, they intend to assess ARD-201, a combination therapy, for obesity-related conditions. This IPO aims to fund ongoing and future clinical developments, with the initial public offering price yet to be determined. No current public market exists for their common stock, although they intend to list under the symbol 'ADVK'.

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