Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 740

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 740
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387 | ​ |                 $ |   795 | ​ |    $ | 4,314 |
| General and administrative | ​ |                    | 1,120 | ​ |      | 1,447 | ​ |                   | 3,494 | ​ |      | 4,122 |
| Total stock option expense | ​ |                  $ | 1,136 | ​ |    $ | 2,834 | ​ |                 $ | 4,289 | ​ |    $ | 8,436 |

F- 26

CARA THERAPEUTICS, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (amounts in thousands, except share and per share data) (unaudited)

A summary of stock option award activity related to employees, non-employee members of the Company’s Board of Directors and non-employee consultants as of and for the nine months ended September 30, 2024 is presented below:

| ​                                       
 ​                                       
 ​                                       
 ​                                       | ​ 
 ​ 
 ​ |         ​ 
         ​ 
 Number of 
    Shares | ​ 
 ​ 
 ​ | ​                
 Weighted         
 Average Exercise 
 Price            |      ​ |
|:----------------------------------------|:--|----------:|:--|:-----------------|-------:|
| Outstanding, December 31, 2023          |   |   658,138 | ​ | $                | 155.88 |
| Granted                                 |   |   253,760 | ​ |                  |  10.32 |
| Exercised                               |   |         — | ​ |                  |      — |
| Forfeited                               |   |  -275,941 | ​ |                  |  60.96 |
| Expired                                 |   |  -280,993 | ​ |                  | 179.04 |
| Outstanding, September 30, 2024         |   |   354,964 | ​ | $                | 107.40 |
| Options exercisable, September 30, 2024 |   |   190,407 | ​ | ​                |      ​ |

The Company does not expect to realize any tax benefits from its stock option activity or the recognition of stock-based compensation expense because the Company currently has net operating losses and has a full valuation allowance against its deferred tax assets. Accordingly,noamounts related to excess tax benefits have been reported in cash flows from operations for each of the three and nine