Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 183

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 183
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 not be prevented or detected. Following the Merger, these material weaknesses must be
remediated by Tvardi.

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To remediate the material weaknesses, Tvardi has
begun a formal risk assessment process to identify control gaps and design new procedures and controls to remediate the identified weaknesses.
Tvardi has added additional experienced accounting and financial reporting personnel and resources and is formalizing the design and implementation
of internal controls over the financial reporting process. The material weaknesses will not be considered remediated until management
completes the design and implementation of the measures described above and the controls operate for a sufficient period of time and management
has concluded, through testing, that these controls are effective. The measures Tvardi has taken to date, and is continuing to design
and implement, may not be sufficient to remediate the material weaknesses Tvardi has identified or avoid potential future material weaknesses.
If the steps Tvardi takes do not correct these material weaknesses in a timely manner, Tvardi will be unable to conclude that it maintains
effective internal control over financial reporting. Accordingly, there could continue to be a reasonable possibility that a material
misstatement of Tvardi’s financial statements would not be prevented or detected on a timely basis.

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If Tvardi fails to remediate its existing material
weaknesses or identify new material weaknesses in its internal control over financial reporting, if Tvardi is unable to comply with the
disclosure and attestation requirements of Section 404 of the Sarbanes-Oxley Act in a timely manner, if Tvardi is unable to conclude that
its internal control over financial reporting is effective, or if its independent registered public accounting firm is unable to conclude
that its internal control over financial reporting is effective, Tvardi may not be able to accurately or timely report its financial condition
or results of operations, which may adversely affect investor confidence in Tvardi and the market price of its common stock could be negatively
affected. As a result, Tvardi could also become subject to investigations by The Nasdaq Capital Market, the SEC or other regulatory authorities,
and become subject to litigation from investors and stockholders, which could harm its reputation and financial condition or divert financial
and management resources from its regular business activities.

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Tvardi’s disclosure controls and procedures may not prevent or detect all errors or acts of fraud.

As a public reporting company, Tvardi is subject
to certain reporting requirements of the Exchange Act. Tvardi’s disclosure