Company: TVRD
Filing Date: 2025-10-20
Form Type: S-1/A
Source: 0001104659-25-100896
Chunk: 379

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-20
Form: S-1/A
Chunk 379
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| Research and development       | ​ | ​ | ​                                  | $ | 147 | ​ | ​ | ​ | ​    | $ | 28 | ​ | ​ | ​ | ​                                | $ | 176 | ​ | ​ | ​ | ​    | $ |  57 | ​ | ​ |
| General and administrative     | ​ | ​ | ​                                  | ​ | 480 | ​ | ​ | ​ | ​    | ​ | 51 | ​ | ​ | ​ | ​                                | ​ | 531 | ​ | ​ | ​ | ​    | ​ | 103 | ​ | ​ |
| Total stock-based compensation | ​ | ​ | ​                                  | $ | 627 | ​ | ​ | ​ | ​    | $ | 79 | ​ | ​ | ​ | ​                                | $ | 707 | ​ | ​ | ​ | ​    | $ | 160 | ​ | ​ |

As of June 30, 2025, there was $4.6 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 3.28 years.

F-47

TABLE OF CONTENTS

11. Income Taxes For the three and six months ended June 30, 2025 and 2024, there was no current or deferred income tax expense or benefit due to the Company’s current year losses and full valuation allowance. As of June 30, 2025, the Company evaluated all available evidence and concluded that a valuation allowance is still required against its net deferred tax assets because it is more likely than not they will not be realized in the foreseeable future. 12. Net Income (Loss) Per Share Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows (dollar amounts in thousands):

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 ​ | For the Three MonthsEnded June 30, 
 2025                               
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