Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 198

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 198
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 or access to its
cash and liquidity resources could, among other risks, adversely impact Tvardi’s ability to meet its operating expenses, financial
obligations or fulfill its other obligations, result in breaches of its financial and/or contractual obligations or result in violations
of federal or state wage and hour laws. Any of these impacts, or any other impacts resulting from the factors described above or other
related or similar factors not described above, could have material adverse impacts on Tvardi’s liquidity and its current and/or
projected business operations and financial condition and results of operations.

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In addition, any further deterioration in the macroeconomic
economy or financial services industry could lead to losses or defaults by Tvardi’s customers or suppliers, which in turn, could
have a material adverse effect on its current and/or projected business operations and results of operations and financial condition.
For example, a supplier may determine that it will no longer deal with Tvardi as a customer. In addition, a supplier could be adversely
affected by any of the liquidity or other risks that are described above as factors that could result in material adverse impacts on Tvardi,
including but not limited to delayed access or loss of access to uninsured deposits or loss of the ability to draw on existing credit
facilities involving a troubled or failed financial institution. Any supplier bankruptcy or insolvency, or any breach or default by a
supplier, or the loss of any significant supplier relationships, could result in material losses to Tvardi and may have a material adverse
impact on its business.

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The increasing use of social media platforms presents new risks and challenges.

Social media is increasingly being used to communicate
about Tvardi’s clinical development programs and the diseases its therapeutics are being developed to treat, and Tvardi intends
to utilize appropriate social media in connection with its commercialization efforts following approval of its product candidates, if
any. Social media practices in the biopharmaceutical industry continue to evolve and regulations and regulatory guidance relating to such
use are evolving and not always clear. This evolution creates uncertainty and risk of noncompliance with regulations applicable to its
business, resulting in potential regulatory actions against Tvardi, along with the potential for litigation related to off-label marketing
or other prohibited activities. For example, patients may use social media channels to comment on their experience in an ongoing blinded
clinical trial or to report an alleged adverse event. When such disclosures occur, there is a risk that clinical trial enrollment may
be adversely impacted,