Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 592

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 592
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 in the final CY2024 rule has resulted in a lack of sequential revenues growth for KORSUVA injection since its launch. As a result, Cara expects no meaningful revenue contribution from KORSUVA injection post its TDAPA expiration. Cara’s ability to earn these milestone and royalty payments and their timing is dependent upon successful commercialization of KORSUVA injection/Kapruvia, and successful future repayments made to HCR using CSL Vifor and Maruishi milestones and royalties under the Original HCR Agreement. However, Cara’s receipt of any further such amounts is uncertain at this time and Cara may never receive any more of these amounts. Outlook As a result of the discontinuation of Cara’s clinical NP program, Cara’s workforce reductions in 2024, and Cara’s exploration of strategic alternatives to maximize shareholder value, Cara expects that its current unrestricted cash and cash equivalents and available-for-sale marketable securities will be sufficient to fund its currently anticipated operating plan for at least the next 12 months. Cara’s anticipated operating expenses include contractually committed costs as well as non-contractually committed clinical trial costs for trials that are closing based on the Cara Board’s new strategic plan. It is possible that the assumptions upon which Cara has based this estimate may prove to be wrong, and Cara could use its capital resources sooner than it presently expects. Cash Flows For the Nine Months Ended September 30, 2024 and 2023 The following is a summary of the net cash flows provided by (used in) Cara’s operating, investing and financing activities for the nine months ended September 30, 2024 and 2023:

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 ​ | Nine Months EndedSeptember 30, 
 2024                           
 Dollar amounts in thousands    |   |         |   | ​ | ​ | 2023 |   |         |   | ​ 
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|:----------------------------------------------------------------------|:--|:--|:-------------------------------|:--|--------:|:--|:--|:--|:-----|:--|--------:|:--|:--|
| Net cash used in operating activities                                 | ​ | ​ | ​                              | $ | -56,874 | ​ | ​ | ​ | ​    | $ | -74,708 | ​ | ​ |
| Net cash provided by investing activities                             | ​ | ​ | ​                              | ​ |  43,741 | ​ | ​