Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 135

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 135
---
 to meet or exceed financial projections Cara provides to the public;

•

failure to meet or exceed the estimates and projections of the investment community, including securities analysts;

•

announcements by Cara or Cara’s competitors of significant acquisitions, strategic partnerships, or divestitures;

•

introduction of competitive products or technologies;

•

the perception of the pharmaceutical industry by the public, legislatures, regulators and the investment community;

•

general trends in Cara’s industry or economic and market conditions and overall fluctuations in U.S. equity markets;

•

developments concerning Cara’s sources of manufacturing supply, warehousing and inventory control;

•

disputes or other developments relating to patents or other proprietary rights;

•

additions or departures of key scientific or management personnel;

•

announcements of investigations or regulatory scrutiny of Cara’s operations or lawsuits filed against it;

•

capital commitments;

•

investors’ general perception of the company and its business;

<div align='center'>74</div>

TABLE OF CONTENTS

•

announcements and expectations of additional financing efforts, including the issuance of debt, equity or convertible securities or other security instruments;

•

sales of Cara’s common stock, including sales by its directors and officers or significant stockholders;

•

changes in the market valuations of companies similar to Cara;

•

should Cara resume development activities in the future, (i) changes or developments in laws or regulations applicable to such product candidate;(ii) delays in the commencement, enrollment and ultimate completion of any clinical trials; (iii) results of any clinical trials or those of Cara’s competitors; or (iv) any delay or refusal on the part of the FDA or other regulatory authorities in approving marketing authorization for any potential product candidate;

•

changes in the structure of healthcare payment systems; and

•

the other factors described in this “Risk Factors” section.

In addition, the stock market in general, and the market for small pharmaceutical and biotechnology companies in particular, have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of these companies. Broad market and industry factors, such as those related to fluctuations in inflation and interest rates and concerns of a recession in the United States or other major markets, the recent disruptions to and volatility in the credit and financial markets in the United States and worldwide, and geopolitical instability, including resulting from the ongoing conflicts between Russia and Ukraine, conflicts in the Middle East, and increasing tensions between China and Taiwan, may negatively affect the market price of Cara’s common stock, regardless of Cara’s actual operating performance.

Further, in the