Company: TVRD
Filing Date: 2025-10-07
Form Type: S-1/A
Source: 0001104659-25-097519
Chunk: 333

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-07
Form: S-1/A
Chunk 333
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 30, 2024                                                                         |   |       3,963,910 | ​ | $      |  85,503 | ​ |   |    2,574,767 | ​ | $      |   2 | ​ | $          |     944 | ​ | $           |  -74,016 | ​ | $             |   — | ​ | $                |  -73,070 |

The accompanying notes are an integral part of these condensed consolidated financial statements.

F-32

TVARDI THERAPEUTICS, INC. CONDENSED CONSOLIDATED S TATEMENTS OF CASH FLOWS (Unaudited, amounts in thousands)

| ​                                                                           
 ​                                                                           
 ​                                                                           
 Cash flows from operating activities:                                       | ​ 
 ​ | ​                                 
 For the Six Months Ended June 30, 
 2025                              
 ​                                 |       ​ | ​ | ​    
 2024 
 ​    |       ​ | ​ 
 ​ 
 ​ 
 ​ |
|:----------------------------------------------------------------------------|:--|:----------------------------------|--------:|:--|:-----|--------:|:--|
| Net loss                                                                    | ​ | $                                 |  -5,412 | ​ | $    | -11,177 | ​ |
| Adjustments to reconcile net loss to net cash used in operating activities: | ​ |                                   |         | ​ |      |         | ​ |
| Depreciation and amortization expense                                       | ​ |                                   |      47 | ​ |      |      47 | ​ |
| Stock-based compensation expense                                            | ​ |                                   |     707 | ​ |      |     160 | ​ |
| Change in fair value of Convertible Notes                                   | ​ | ​                                 |  -7,810 | ​ | ​    |       — | ​ |
| Non-cash lease expense                                                      | ​ |                                   |      35 | ​ |      |      29 | ​ |
| Accretion of discounts on short-term investments                            | ​ |                                   |    -141 | ​ |      |       — | ​ |
| Interest accrued on Convertible Notes                                       | ​ |                                   |     651 | ​ |      |       — | ​ |
| Changes in operating assets and liabilities:                                | ​ |                                   |         | ​ |      |         | ​ |
| Prepaid expenses and other assets                                           | ​ |                                   |  -1,717 | ​ |      |   1,