Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 609

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 609
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 be carried forward indefinitely. As of December 31, 2023, Tvardi had federal research and development credits of $0.4 million, which will begin to expire in 2039. Results of Operations Comparison of the nine months ended September 30, 2024 and 2023 The following table sets forth Tvardi’s results of operations for the nine months ended September 30, 2024 and 2023 (in thousands, except percentages):

| ​                          
 ​                          
 Operating expenses:        | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | Nine Months EndedSeptember 30, 
 2024                           
 ​                              | ​ |       ​ | ​ | ​ 
 ​ | ​ 
 ​ | 2023 
 ​    | ​ |       ​ | ​ | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | Change 
 Amount 
 ​      | ​ |      ​ | ​ | ​ 
 ​ | ​ 
 ​ | Percent 
 ​       | ​ | ​       | ​ | ​ 
 ​ 
 ​ |
|:---------------------------|:--|:--|:-------------------------------|:--|--------:|:--|:--|:--|:-----|:--|--------:|:--|:--|:--|:-------|:--|-------:|:--|:--|:--|:--------|:--|:--------|:--|:--|
| Research and development   | ​ | ​ | ​                              | $ |  15,047 | ​ | ​ | ​ | ​    | $ |  11,884 | ​ | ​ | ​ | ​      | $ |  3,163 | ​ | ​ | ​ | ​       | ​ | 26.6%   | ​ | ​ |
| General and administrative | ​ | ​ | ​                              | ​ |   2,258 | ​ | ​ | ​ | ​    | ​ |   2,117 | ​ | ​ | ​ | ​      | ​ |    141 | ​ | ​ | ​ | ​       | ​ | 6.7%    | ​ | ​ |
| Total operating expenses   | ​ | ​ | ​                              | ​ |  17,305 | ​ | ​ | ​ | ​    | ​ |  14,001 | ​ | ​ | ​ | ​      | ​ |  3,304 | ​ | ​ | ​ | ​       | ​ |