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Side-by-side financial comparison of Aardvark Therapeutics, Inc. (AARD) and Arbutus Biopharma Corp (ABUS). Click either name above to swap in a different company.
Aardvark Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel targeted therapies for inflammatory, metabolic, and orphan diseases. It advances G-protein coupled receptor-targeting pipeline candidates, serving patient populations primarily in North America and global markets via R&D partnerships.
Arbutus Biopharma Corporation is a publicly traded Canadian biopharmaceutical company with an expertise in liposomal drug delivery and RNA interference, and is developing drugs for hepatitis B infection.
AARD vs ABUS — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $0 | $1.1M |
| Net Profit | $-17.6M | — |
| Gross Margin | — | — |
| Operating Margin | — | -503.3% |
| Net Margin | — | — |
| Revenue YoY | — | -33.2% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.81 | $-0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $0 | $1.1M | ||
| Q3 25 | $0 | $529.0K | ||
| Q2 25 | $0 | $10.7M | ||
| Q1 25 | $0 | $1.8M | ||
| Q4 24 | — | $1.6M | ||
| Q3 24 | — | $1.3M | ||
| Q2 24 | — | $1.7M | ||
| Q1 24 | — | $1.5M |
| Q4 25 | $-17.6M | — | ||
| Q3 25 | $-16.3M | $-7.7M | ||
| Q2 25 | $-14.4M | $2.5M | ||
| Q1 25 | $-9.3M | $-24.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-19.7M | ||
| Q2 24 | — | $-19.8M | ||
| Q1 24 | — | $-17.9M |
| Q4 25 | — | -503.3% | ||
| Q3 25 | — | -1636.9% | ||
| Q2 25 | — | 13.9% | ||
| Q1 25 | — | -1456.9% | ||
| Q4 24 | — | -885.2% | ||
| Q3 24 | — | -1601.2% | ||
| Q2 24 | — | -1250.5% | ||
| Q1 24 | — | -1263.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | -1463.5% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | — | -1390.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -1472.5% | ||
| Q2 24 | — | -1146.9% | ||
| Q1 24 | — | -1166.8% |
| Q4 25 | $-0.81 | $-0.01 | ||
| Q3 25 | $-0.75 | $-0.04 | ||
| Q2 25 | $-0.66 | $0.01 | ||
| Q1 25 | $-0.71 | $-0.13 | ||
| Q4 24 | — | $-0.07 | ||
| Q3 24 | — | $-0.10 | ||
| Q2 24 | — | $-0.11 | ||
| Q1 24 | — | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $110.0M | $91.5M |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $106.6M | $76.6M |
| Total Assets | $117.2M | $94.6M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.0M | $91.5M | ||
| Q3 25 | $126.3M | $22.4M | ||
| Q2 25 | $141.8M | $37.4M | ||
| Q1 25 | $151.3M | $37.1M | ||
| Q4 24 | — | $122.6M | ||
| Q3 24 | — | $31.8M | ||
| Q2 24 | — | $62.8M | ||
| Q1 24 | — | $43.1M |
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
| Q4 25 | $106.6M | $76.6M | ||
| Q3 25 | $122.4M | $77.4M | ||
| Q2 25 | $136.9M | $83.0M | ||
| Q1 25 | $150.7M | $79.2M | ||
| Q4 24 | — | $97.4M | ||
| Q3 24 | — | $106.9M | ||
| Q2 24 | — | $122.5M | ||
| Q1 24 | — | $114.6M |
| Q4 25 | $117.2M | $94.6M | ||
| Q3 25 | $133.2M | $97.7M | ||
| Q2 25 | $147.5M | $103.3M | ||
| Q1 25 | $157.0M | $117.0M | ||
| Q4 24 | — | $131.7M | ||
| Q3 24 | — | $140.4M | ||
| Q2 24 | — | $160.0M | ||
| Q1 24 | — | $150.3M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-16.8M | $-4.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.8M | $-4.7M | ||
| Q3 25 | $-16.1M | $-5.8M | ||
| Q2 25 | $-9.8M | $-15.7M | ||
| Q1 25 | $-11.4M | $-13.4M | ||
| Q4 24 | — | $-10.3M | ||
| Q3 24 | — | $-20.7M | ||
| Q2 24 | — | $-14.5M | ||
| Q1 24 | — | $-19.3M |
| Q4 25 | — | — | ||
| Q3 25 | $-16.1M | — | ||
| Q2 25 | $-9.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-10.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-14.5M | ||
| Q1 24 | — | $-19.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -660.8% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -840.4% | ||
| Q1 24 | — | -1265.7% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 6.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -6.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
