Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 925

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 925
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 weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:

| ​                                              
 ​                                              | ​ 
 ​ | ​ 
 ​ | For the Year EndedDecember 31, 
 2023                           |   |            |   | ​ | ​ | 2022 |   |            |   | ​ 
 ​ |
|:-----------------------------------------------|:--|:--|:-------------------------------|:--|-----------:|:--|:--|:--|:-----|:--|-----------:|:--|:--|
| Preferred stock (as converted to common stock) | ​ | ​ | ​                              | ​ | 29,555,538 | ​ | ​ | ​ | ​    | ​ | 29,555,538 | ​ | ​ |
| Stock options to purchase common stock         | ​ | ​ | ​                              | ​ |  5,509,379 | ​ | ​ | ​ | ​    | ​ |  4,828,500 | ​ | ​ |

13. Commitments and Contingencies Legal Matters The Company is subject to contingent liabilities, such as legal proceedings and claims, that arise in the ordinary course of business activities. The Company accrues for loss contingencies when losses become probable and are reasonably estimable. If the reasonable estimate of the loss is a range and no amount within the range is a better estimate, the minimum amount of the range is recorded as a liability on the balance

F-112

TABLE OF CONTENTS

#### 13. Commitments and Contingencies (continued)
sheets. The Company does not accrue for contingent losses that, in its judgment, are considered to be reasonably possible, but not probable; however, it discloses the range of reasonably possible losses. As of December 31, 2023 and 2022, the Company was not a party to any material legal proceedings or claims and no liabilities were recorded for loss contingencies.

#### Contracts
The Company enters into contracts in the normal course of business with various third parties for preclinical research studies, clinical trials, testing, manufacturing, and other services. These contracts generally provide for termination upon notice and are cancellable without significant penalty or payment, and do not contain any minimum purchase commitments.

#### Guarantees and Indemnifications