Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 795

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 795
---
 authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Ernst & Young LLP

Stamford, Connecticut

March 6, 2024

<div align='center'>F-36</div>

TABLE OF CONTENTS

CARA THERAPEUTICS, INC. CONSOLIDATED BALANCE SHEETS
(amounts in thousands, except share and per share data)

| ​                                                                                                                                                                                                                          
 Assets                                                                                                                                                                                                                     
 Current assets:                                                                                                                                                                                                            | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | December 31,2023 
 ​                
 ​                | ​ 
 ​ |        ​ 
        ​ | ​ 
 ​ | ​ 
 ​ 
 ​ | ​ 
 ​ 
 ​ | December 31,2022 
 ​                
 ​                | ​ 
 ​ |        ​ 
        ​ | ​ 
 ​ | ​ 
 ​ 
 ​ |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--|:--|:-----------------|:--|---------:|:--|:--|:--|:-----------------|:--|---------:|:--|:--|
| Cash and cash equivalents                                                                                                                                                                                                  | ​ | ​ | ​                | $ |   51,775 | ​ | ​ | ​ | ​                | $ |   63,741 | ​ | ​ |
| Marketable securities                                                                                                                                                                                                      | ​ | ​ | ​                | ​ |   48,983 | ​ | ​ | ​ | ​                | ​ |   81,658 | ​ | ​ |
| Accounts receivable, net – related party                                                                                                                                                                                   | ​ | ​ | ​                | ​ |    2,765 | ​ | ​ | ​ | ​                | ​ |    3,260 | ​ | ​ |
| Inventory, net                                                                                                                                                                                                             | ​ | ​ | ​                | ​ |    2,821 | ​ | ​ | ​ | ​                | ​ |    2,383 | ​ | ​ |
| Income tax receivable                                                                                                                                                                                                      | ​ | ​ |