Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 298

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 298
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 characteristics that are materially different from those of Tvardi. The analyses necessarily involve complex considerations and judgments concerning differences in financial and operational characteristics of the Tvardi IPO Comparable Companies, as well as other factors that could affect the Tvardi IPO Comparable Companies differently from how they would affect Tvardi. Set forth below are the Tvardi IPO Comparable Companies, as well as such companies’ targeted lead treatment indications, stage of development, and IPO pricing dates:

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TABLE OF CONTENTS

| ​ | Tvardi IPO Comparable Company                            | ​ | ​ | Lead Treatment Indication              | ​ | ​ | Stage ofDevelopment | ​ | ​ | IPO PricingDate | ​ |
| ​ | Single Clinical-Stage (Non-Oncology) Asset in Phase 2    |   |   |                                        |   |   |                     |   |   |                 | ​ |
| ​ | Upstream Bio, Inc.                                       | ​ | ​ | Severe asthma                          | ​ | ​ | Phase 2             | ​ | ​ | 10/10/2024      | ​ |
| ​ | HilleVax, Inc.                                           | ​ | ​ | Norovirus vaccine                      | ​ | ​ | Phase 2b            | ​ | ​ | 04/28/2022      | ​ |
| ​ | CinCor Pharma, Inc.                                      | ​ | ​ | Hypertension                           | ​ | ​ | Phase 2             | ​ | ​ | 01/06/2022      | ​ |
| ​ | Vera Therapeutics, Inc.                                  | ​ | ​ | Immunoglobulin A nephropathy           | ​ | ​ | Phase 2b            | ​ | ​ | 05/13/2021      | ​ |
| ​ | Reneo Pharmaceuticals, Inc.                              | ​ | ​ | Primary mitochondrial myopathies       | ​ | ​ | Phase 2b            | ​ | ​ | 04/08/2021      | ​ |
| ​ | Spruce Biosciences, Inc.                                 | ​ | ​ | Classic congenital adrenal hyperplasia | ​ | ​ | Phase 2b            | ​ | ​ | 10/08/2020      | ​ |
| ​ | Graybug Vision, Inc.                                     | ​ | ​ | Wet AMD                                | ​ | ​ | Phase 2b            | ​ | ​ | 09/24/2020      | ​ |
| ​ | COMPASS Pathways plc