Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 586

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 586
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| TTI-109                                              | ​ |                         |  1,466 | ​ |   |     79 | ​ |        |  1,387 |   | 1755.7 | %       |
| Unallocated research and development expense:        | ​ |                         |        | ​ |   |        | ​ |        |        |   |        | ​       |
| Personnel costs (including stock-based compensation) | ​ |                         |  2,900 | ​ |   |  1,709 | ​ |        |  1,191 |   |   69.7 | %       |
| Consultant fees and other costs                      | ​ |                         |  1,144 | ​ |   |  1,695 | ​ |        |   -551 |   |  -32.5 | %       |
| Total research and development expenses              | ​ | $                       | 15,866 | ​ | $ | 18,466 | ​ | $      | -2,600 |   |  -14.1 | %       |

Research and development expenses were $15.9 million for the year ended December 31, 2023, compared to $18.5 million for the year ended December 31, 2022. The decrease of $2.6 million was primarily driven by a decrease of $3.2 million in direct costs related to Tvardi’s research and development programs, offset by a $0.6 million increase of unallocated research and development expenses. The decrease of $4.6 million related to Tvardi’s product candidate TTI-101 was partially driven by a decrease of $6.0 million in pre-clinical, CMC and other unallocated direct costs primarily attributable to (i) reductions in the production of API and tablets for use in TTI-101 clinical trials and (ii) reduced spend on preclinical testing as Tvardi moved forward in clinical trials. This decrease was partially offset by increased costs for Tvardi’s Phase 1b/2 clinical trials for idiopathic pulmonary fibrosis, or IPF, and hepatocellular carcinoma, or HCC, for which there were an increased number of patient enrollments. While costs for Tvardi’s clinical trial in mBC decreased by $0.1 million for the year ended December 31, 2023 as compared to the year ended December 31, 2022, Tvardi expects