Company: TVRD
Filing Date: 2025-10-07
Form Type: S-1/A
Source: 0001104659-25-097519
Chunk: 331

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-07
Form: S-1/A
Chunk 331
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. The Company has determined that there are no subsequent events to be reported other than those listed below. On February 14, 2025, Cara’s Form S-4/A as filed regarding its proposed merger with Tvardi, was deemed effective by the SEC. Refer to Note 1, Nature of the Business and Basis of Presentation, for further detail on the proposed merger. On April 1, 2025, Cara held its Special Meeting of Stockholders, at which Cara stockholders approved all six proposals related to its proposed merger with Tvardi.

<div align='center'>F-29</div>

TVARDI THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, amounts in thousands, except share and per share amounts)

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 ​                                                                                                                                                                                                                                                                                                                                                                                                   
 Assets                                                                                                                                                                                                                                                                                                                                                                                              
 Current assets:                                                                                                                                                                                                                                                                                                                                                                                     | ​ 
 ​ 
 ​ | ​              
 As of June 30, 
 2025           
 ​              
 ​              |       ​ 
       ​ | ​ 
 ​ 
 ​ | ​                  
 As of December 31, 
 2024               
 ​                  
 ​                  |       ​ 
       ​ | ​ 
 ​ 
 ​ 
 ​ 
 ​ |
|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--|:---------------|--------:|:--|:-------------------|--------:|:--|
| Cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                           | ​ | $              |  20,648 | ​ | $                  |  31,614 | ​ |
| Short-term investments                                                                                                                                                                                                                                                                                                                                                                              | ​ | ​              |  20,346 | ​ | ​                  |       — | ​ |
| Prepaid expenses and other current assets                                                                                                                                                                                                                                                                                                                                                           | ​ |                |   2,136 | ​ |                    |      72 | ​ |
| Total current assets                                                                                                                                                                                                                                                                                                                                                                                | ​ |                |  43,130 | ​ |                    |  31,686 | ​ |
| Property and equipment, net                                                                                                                                                                                                                                                                                                                                                                         | ​ |                |      68 | ​ |                    |      84 | ​ |
| Intangible assets, net                                                                                                                                                                                                                                                                                                                                                                              | ​ |                |     354 | ​ |                    |     385 | ​ |
| Operating lease right-of-use assets                                                                                                                                                                                                                                                                                                                                                                 | ​ |                |     181 | ​ |                    |     216 |