As of September 09, 2026, the three largest insider holders of AARD are Capital Global Life Sciences Fund Iv, L.P. Decheng (TenPercentOwner, 3.92Mn shares), Capital Global Life Sciences Fund Iv, L.P. Decheng (TenPercentOwner, 3.92Mn shares), Venture Fund Vi Pte Ltd Vickers (TenPercentOwner, 2.05Mn shares).
| # | Insider | Position | Direct | Indirect | Total | Share of Insiders | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Capital Global Life Sciences Fund Iv, L.P. Decheng | TenPercentOwner | 0 | 3,917,299 | 3,917,299 | 54.4% | 19 Feb, 2025 |
| 2 | Venture Fund Vi Pte Ltd Vickers | TenPercentOwner | 0 | 2,050,902 | 2,050,902 | 28.5% | 19 Feb, 2025 |
| 3 | Asset Management, Lp Cormorant | Other | 0 | 987,689 | 987,689 | 13.7% | 19 Feb, 2025 |
| 4 | Jeffrey Chi | Director | 0 | 133,364 | 133,364 | 1.9% | 19 Feb, 2025 |
| 5 | Nelson Sun | Chief Financial Officer | 108,484 | 0 | 108,484 | 1.5% | 12 Dec, 2025 |
| 6 | Bryan Jones | Chief Operating Officer | 1,250 | 0 | 1,250 | 0.0% | 16 Oct, 2025 |
Each row is that insider’s most recently reported position, from Form 4 filings over the last 60 months — which is why this total does not tie to the quarterly series above, where a quarter counts only the insiders who filed in it. Shares held through a fund or institutional portfolio are counted on the institutional ownership page instead.
| Date | Insider | Position | Transaction | Shares | Price | Value | Shares Held After | Ownership |
|---|---|---|---|---|---|---|---|---|
| 14 Aug, 2026 | Jeffrey Chi | Director | Acquired A | 44,964 | $0.00 | $0 | 44,964 | Direct |
| 14 Aug, 2026 | Victor Edward Jr Tong | Director | Acquired A | 44,964 | $0.00 | $0 | 44,964 | Direct |
| 14 Aug, 2026 | Susan E Graf | Director | Acquired A | 44,964 | $0.00 | $0 | 44,964 | Direct |
| 09 Feb, 2026 | Manasi Jaiman | Chief Medical Officer | Disposed A | 70,549 | $0.00 | $0 | 70,549 | Direct |
| 09 Feb, 2026 | Nelson Sun | Chief Financial Officer | Disposed A | 70,549 | $0.00 | $0 | 70,549 | Direct |
| 09 Feb, 2026 | Nelson Sun | Chief Financial Officer | Disposed A | 70,549 | $0.00 | $0 | 70,549 | Direct |
| 09 Feb, 2026 | Nelson Sun | Chief Financial Officer | Disposed A | 70,549 | $0.00 | $0 | 70,549 | Direct |
| 09 Feb, 2026 | Manasi Jaiman | Chief Medical Officer | Disposed A | 70,549 | $0.00 | $0 | 70,549 | Direct |
| 09 Feb, 2026 | Nelson Sun | Chief Financial Officer | Disposed A | 70,549 | $0.00 | $0 | 70,549 | Direct |
| 09 Feb, 2026 | Manasi Jaiman | Chief Medical Officer | Disposed A | 70,549 | $0.00 | $0 | 70,549 | Direct |
| 09 Feb, 2026 | Manasi Jaiman | Chief Medical Officer | Disposed A | 70,549 | $0.00 | $0 | 70,549 | Direct |
| 11 Dec, 2025 | Nelson Sun | Chief Financial Officer | Acquired P | 3,000 | $14.40 | $43.20K | 108,484 | Direct |
| 11 Dec, 2025 | Nelson Sun | Chief Financial Officer | Acquired P | 3,000 | $14.40 | $43.20K | 108,484 | Direct |
| 11 Dec, 2025 | Nelson Sun | Chief Financial Officer | Acquired P | 3,000 | $14.40 | $43.20K | 108,484 | Direct |
| 11 Dec, 2025 | Nelson Sun | Chief Financial Officer | Acquired P | 3,000 | $14.40 | $43.20K | 108,484 | Direct |
| 15 Oct, 2025 | Bryan Jones | Chief Operating Officer | Acquired M | 1,250 | $4.24 | $5.30K | 1,250 | Direct |
| 15 Oct, 2025 | Bryan Jones | Chief Operating Officer | Acquired M | 1,250 | $4.24 | $5.30K | 1,250 | Direct |
| 15 Oct, 2025 | Bryan Jones | Chief Operating Officer | Acquired M | 1,250 | $4.24 | $5.30K | 1,250 | Direct |
| 15 Oct, 2025 | Bryan Jones | Chief Operating Officer | Acquired M | 1,250 | $4.24 | $5.30K | 1,250 | Direct |
| 15 Oct, 2025 | Bryan Jones | Chief Operating Officer | Disposed M | 1,250 | $0.00 | $0 | 40,052 | Direct |