Diligence memo · auto-generated · as of July 3, 2026
Aardvark Therapeutics, Inc.
Aardvark Therapeutics, Inc. looks over-valued against its niche peers and is quiet on financing cadence.
Businessfiled
Aardvark Therapeutics, Inc. operates in Biotechnology, based in San Diego.
Sub-sector tags: pharma.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Aardvark Therapeutics, Inc. has raised $103M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $85M on 2024-05-01.
Most recent recorded round closed around 2024-05-01.
Valuation (modeled)modeled
Provath models Aardvark Therapeutics, Inc. at approximately $808M (range $263M–$1.3B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.63× the median modeled value of Series C Biotechnology companies in 2022–2024 (111 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 30 months.
Last raise 2.2 yr ago; this sector typically re-raises about every 14 months.
Slightly overdue versus sector cadence.
The last round stepped up 9.4× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 90% of Biotechnology peers (4293 compared).
Modeled value ranks above 87% of those peers.
Closest niche peers: Dianthus Therapeutics, Inc., Satellite Biosciences, Inc., Deepcell, Inc., Ventus Therapeutics U.S., Inc., Morphic Holding, Inc..
Peoplefiled
8 named people on file across officers, directors and signatories.
Risks & flagsmixed
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.