Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 779

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 779
---
 |  47,194 | ​ | ​ | ​ | ​                                    | $ | 111.24 | ​ | ​ |
| Awarded                                                                      | ​ | ​ | ​              | ​ |  75,323 | ​ | ​ | ​ | ​                                    | ​ |   7.92 | ​ | ​ |
| Vested and released                                                          | ​ | ​ | ​              | ​ | -30,494 | ​ | ​ | ​ | ​                                    | ​ |  93.72 | ​ | ​ |
| Forfeited                                                                    | ​ | ​ | ​              | ​ | -11,362 | ​ | ​ | ​ | ​                                    | ​ | 126.84 | ​ | ​ |
| Outstanding, September 30, 2024                                              | ​ | ​ | ​              | ​ |  80,661 | ​ | ​ | ​ | ​                                    | $ |  19.20 | ​ | ​ |
| Restricted stock units exercisable (vested and deferred), September 30, 2024 | ​ | ​ | ​              | ​ |       — | ​ | ​ | ​ | ​                                    | ​ |      ​ | ​ | ​ |

Stock Options Under the 2014 Plan, there were no stock options granted during the three months ended September 30, 2024. The Company granted 12,979 stock options during the three months ended September 30, 2023, and 253,760 and 162,889 stock options during the nine months ended September 30, 2024 and 2023, respectively. No stock options were granted under the 2019 Inducement Plan during the three and nine months ended September 30, 2024 and 2023. The fair values of stock options granted during the three months ended September 30, 2023, and nine months ended September 30, 2024 and 2023, were estimated as of the dates of grant using the Black-Scholes option pricing model with the following assumptions:

F-27

TABLE OF CONTENTS

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

| ​                                                      |    ​ | ​ | Three Months EndedSeptember 30, |      |   |       |    ​ | ​ | Nine Months EndedSeptember 30, |      |   |               | ​ |
|