Company: TVRD
Filing Date: 2025-02-13
Form Type: CORRESP
Source: 0001104659-25-013055
Chunk: 1

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-13
Form: CORRESP
Chunk 1
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: The Company respectfully acknowledges the
Staff’s comment and has revised the disclosure on page 11 of the Second Amended Registration Statement to clarify that the
continued listing of the shares of the Company’s common stock is a condition to closing that is subject to waiver by the Board of
Directors (“Tvardi Board”) of Tvardi Therapeutics, Inc. (“Tvardi”), and that
if the Company is unable to timely regain compliance with the requirement, it is unknown whether the Tvardi Board will grant a waiver
of this condition until such a time (if ever) that such a determination by the Tvardi Board becomes necessary.

| 2. | We note your response to prior comment 7. Similar to your revised disclosure on page 135, please                                    
 further revise your disclosure on page 17 to clarify that your officers and directors, and their affiliated funds, who collectively 
 own approximately 1% of your “outstanding” common stock entered into the support agreements.                                        |

: The Company respectfully acknowledges the
Staff’s comment and has revised the disclosure on page 18 of the Second Amended Registration Statement to clarify that the
above referenced percentage reflects the Company’s “outstanding shares of common stock.”

MINTZ

| 3. | We note your response to prior comment 12. To help us further evaluate your response, please tell us                                    
 whether the omitted financial projections were used or relied upon by your financial advisor in considering the fairness determination. |

: The Company respectfully acknowledges the
Staff’s comment. As noted in the Company’s response, dated January 24, 2025, to the Staff, certain balance sheet data with
respect to the cash and debt positions of Tvardi as of November 30, 2024 and quarterly financial forecasts relating to the business,
earnings, cash flows, and prospects of Tvardi from December 31, 2024 through December 31, 2026 (the “Tvardi Financial Forecasts”)
were prepared and provided by Tvardi’s management in connection with the Merger at the request of the Company to confirm Tvardi’s
then-expected future cash flows for diligence purposes. The Tvardi Financial Forecasts were then furnished to Piper Sandler & Co.
(“Piper Sandler”) as background information. As noted in the proxy statement/prospectus, Piper Sandler reviewed
and analyzed, among other things, the Tvardi Financial Forecasts. However, given the limited time