Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 325

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 325
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 table summarizes option activity during the year ended December 31, 2024:

| ​                                                   
 ​                                                   
 ​                                                   
 ​                                                   | ​ 
 ​ 
 ​ |         ​ 
         ​ 
 Number of 
   Options | ​ 
 ​ 
 ​ | ​              
 Weighted-      
 Average        
 Exercise Price |    ​ | ​ 
 ​ 
 ​ |                     ​ 
      Weighted-Average 
 Remaining Contractual 
       Term (In Years) | ​ 
 ​ 
 ​ | ​               
 ​               
 Intrinsic Value 
 (In Thousands)  |     ​ 
     ​ |
|:----------------------------------------------------|:--|----------:|:--|:---------------|-----:|:--|----------------------:|:--|:----------------|------:|
| Outstanding as of January 1, 2024                   |   | 5,509,379 | ​ | $              | 0.43 |   |                  7.04 | ​ | $               | 2,699 |
| Granted                                             |   |    25,000 | ​ |                | 0.92 |   |                     — | ​ |                 |     — |
| Exercised                                           |   |   -63,750 | ​ |                | 0.08 |   |                     — | ​ |                 |     — |
| Forfeited/expired                                   |   |   -35,000 | ​ |                | 0.82 |   |                     — | ​ |                 |     — |
| Outstanding as of December 31, 2024                 |   | 5,435,629 | ​ | $              | 0.43 |   |                  6.06 | ​ | $               | 2,914 |
| Options exercisable as of December 31, 2024         |   | 4,582,807 | ​ | $              | 0.38 |   |                  5.78 | ​ | $               | 2,700 |
| Vested and expected to vest as of December 31, 2024 |   | 5,435,629 | ​ | $              | 0.43 |   |                  6.06 | ​ | $               | 2,914 |

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock options and the estimated fair value of the Company’s common stock for those stock options that had exercise prices lower than the estimated fair

F-23