<SEC-DOCUMENT>0000929638-25-000679.txt : 20250212
<SEC-HEADER>0000929638-25-000679.hdr.sgml : 20250212
<ACCEPTANCE-DATETIME>20250212171830
ACCESSION NUMBER:		0000929638-25-000679
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250212
FILED AS OF DATE:		20250212
DATE AS OF CHANGE:		20250212

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Cormorant Asset Management, LP
		CENTRAL INDEX KEY:			0001583977
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42513
		FILM NUMBER:		25616090

	BUSINESS ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		52ND FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		857-702-0388

	MAIL ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		52ND FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER NAME:	
		FORMER CONFORMED NAME:	Cormorant Asset Management, LLC
		DATE OF NAME CHANGE:	20130807

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Chen Bihua
		CENTRAL INDEX KEY:			0001599214
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42513
		FILM NUMBER:		25616089

	MAIL ADDRESS:	
		STREET 1:		C/O CORMORANT ASSET MANAGEMENT, LP
		STREET 2:		200 CLARENDON STREET, 52ND FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Aardvark Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001774857
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				821606367
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4370 LA JOLLA VILLAGE DRIVE
		STREET 2:		SUITE 1050
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92122
		BUSINESS PHONE:		(858) 225-7696

	MAIL ADDRESS:	
		STREET 1:		4370 LA JOLLA VILLAGE DRIVE
		STREET 2:		SUITE 1050
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92122
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>form3.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-02-12</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001774857</issuerCik>
        <issuerName>Aardvark Therapeutics, Inc.</issuerName>
        <issuerTradingSymbol>AARD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001583977</rptOwnerCik>
            <rptOwnerName>Cormorant Asset Management, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 CLARENDON STREET</rptOwnerStreet1>
            <rptOwnerStreet2>52ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001599214</rptOwnerCik>
            <rptOwnerName>Chen Bihua</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CORMORANT ASSET MANAGEMENT, LP</rptOwnerStreet1>
            <rptOwnerStreet2>200 CLARENDON STREET, 52ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Series C Convertible Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6780810</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The Series C Convertible Preferred Stock is convertible into Common Stock at a 1-for-8.474 conversion ratio, after giving effect to a reverse stock split effected by the Issuer on February 5, 2025, for an aggregate of 800,189 shares of Common Stock. The Series C Convertible Preferred Stock may be converted into Common Stock at any time at the election of the Reporting Persons, and is expected to convert automatically into Common Stock upon the closing of the Issuer's initial public offering of shares of Common Stock.</footnote>
        <footnote id="F2">Cormorant Asset Management, LP (&quot;Cormorant&quot;) serves as the investment manager of Cormorant Global Healthcare Master Fund, LP (the &quot;Master Fund&quot;) and Cormorant Private Healthcare Fund V, LP (&quot;Fund V&quot;). Cormorant Global Healthcare GP, LLC (&quot;GP LLC&quot;) serves as general partner of the Master Fund, and Cormorant Private Healthcare V GP, LLC (&quot;GP V LLC&quot;) serves as general partner of Fund V. Bihua Chen serves as the managing member of GP LLC, GP V LLC and the general partner of Cormorant. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or her pecuniary interest therein, and the filing of this Form 3 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.</footnote>
        <footnote id="F3">Represents 940,498 and 5,840,312 shares of Series C Convertible Preferred Stock beneficially owned by the Master Fund and Fund V, respectively.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>CORMORANT ASSET MANAGEMENT, LP By: /s/ Bihua Chen, Managing Member</signatureName>
        <signatureDate>2025-02-12</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Bihua Chen</signatureName>
        <signatureDate>2025-02-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
