Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 396

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 396
---
 | ​ | $          | -262 | ​ | $     | 7,238 | ​ | $          | -262 |
| Corporate bonds                    | ​ |                     | — | ​ |            | — | ​ |                      | 2,000 | ​ |            |   -1 | ​ |       | 2,000 | ​ |            |   -1 |
| Total                              | ​ | $                   | — | ​ | $          | — | ​ | $                    | 9,238 | ​ | $          | -263 | ​ | $     | 9,238 | ​ | $          | -263 |

As of December 31, 2024 and 2023, allowance for credit losses were recognized on the Company’s available-for-sale debt securities as portion of the unrealized losses associated with those securities during the periods were due to credit losses. The information that the Company considered in reaching the conclusion that an allowance for credit losses was not necessary for the following categories of securities is as follows:

There were available-for-sale marketable securities as of December 31, 2024. As of December 31, 2023, the Company held a total of out of positions that were in an unrealized loss position, all of which had been in an unrealized loss position for 12 months or greater as of December 31, 2023. Unrealized losses individually and in aggregate, including any in an unrealized loss position for 12 months or greater, were not considered to be material for each respective period. Based on the Company’s review of these securities, the Company believes that the cost basis of its available-for-sale marketable securities is recoverable.

U.S. government agency obligations.The unrealized losses on the Company’s investments in direct obligations of U.S. government agencies as of December 31, 2023 were due to changes in interest rates and non-credit related factors. The credit ratings of these investments in the Company’s portfolio were not downgraded below investment grade status. The contractual terms of these investments did not permit the issuer to repay principal at a price less than the amortized cost bases of the investments, which is equivalent to the par value on the maturity date. The Company expected to recover the entire amortized cost bases of these securities

F-72

CARA THERAPEUTICS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except share and per share data)

#### on the maturity date. The