Aardvark Therapeutics paused its phase 3 HERO study of ARD‑101 following routine safety monitoring that identified reversible cardiac observations in a healthy volunteer study at doses above therapeutic targets. The company stopped enrollment and suspended an open‑label extension while it conducts a comprehensive data review to determine next steps. The pause knocked roughly half off Aardvark’s market value and postponed planned topline data previously expected in the third quarter. ARD‑101 is a gut‑restricted TAS2R pan‑agonist intended to trigger enteroendocrine hormone release to suppress appetite; the program had been advanced using proceeds from Aardvark’s Nasdaq listing. Management said patient safety is the highest priority and that dosing optimization will be evaluated before resuming the program. Analysts will watch subsequent dosing and mechanistic data to assess whether the cardiac observations are dose‑limited and reversible at planned therapeutic exposures.