Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 337

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 337
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 |         Ended March 31, |   |      | ​ |             March 31, | ​ | December 31, |   |
| ​        |   |                    2025 |   | 2024 |   |                  2025 |   |         2024 |   |
| ​        | ​ | % of operating expenses |   |      | ​ | % of accounts payable |   |              |   |
| Vendor A |   |                      34 | % |   50 | % |                    49 | % |           43 | % |
| Vendor B |   |                       1 | % |    3 | % |                     2 | % |            2 | % |
| Vendor C |   |                       9 | % |    5 | % |                     4 | % |            8 | % |
| Vendor D |   |                       2 | % |    — |   |                    11 | % |            — | ​ |
| ​        |   |                      46 | % |   58 | % |                    66 | % |           53 | % |

The Company’s preclinical studies and clinical trials and testing could be adversely affected by a significant interruption in the supply chain from its significant suppliers.

Cash and Cash Equivalents

The Company considers all highly liquid investments, with an original maturity of three months or less, to be cash equivalents. Cash equivalents include amounts held in money market funds in the amount of $ million and $ million as of March 31, 2025 and December 31, 2024, respectively.

The Company recorded interest income on its cash equivalents of $0.2 million and $ million for the three months ended March 31, 2025 and 2024, respectively, on its statements on operations and comprehensive loss.

Short-term Investments

The Company invests excess cash in short-term investments with high credit ratings. These securities consist primarily of U.S. Treasury Notes that are classified as “available-for-sale.” The Company classifies any investments as short-term if the maturity date is less than or equal to one year from the balance sheet date or as long-term if the maturity date is in excess of one year from the balance sheet date.

The Company’s short-term investments are carried at fair value, with the unrealized gains and losses reported as a component of accumulated other comprehensive income in stockholders’ deficit. Realized gains and losses and declines in fair value due to credit-related