Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 754

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 754
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 limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Ernst & Young LLP

Stamford, Connecticut

March 6, 2024

<div align='center'>F-35</div>

CARA THERAPEUTICS, INC. CONSOLIDATED BALANCE SHEETS (amounts in thousands, except share and per share data)

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 December 31, 2023 | ​ 
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 December 31, 2022 |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--|:--|------------------:|:--|:--|------------------:|
| Assets                                                                                                                                                                                                                        |   | ​ |                 ​ |   | ​ |                   |
| Current assets:                                                                                                                                                                                                               |   | ​ |                   |   | ​ |                   |
| Cash and cash equivalents                                                                                                                                                                                                     | ​ | $ |            51,775 | ​ | $ |            63,741 |
| Marketable securities                                                                                                                                                                                                         | ​ |   |            48,983 | ​ |   |            81,658 |
| Accounts receivable, net - related party                                                                                                                                                                                      | ​ | ​ |             2,765 | ​ | ​ |             3,260 |
| Inventory, net                                                                                                                                                                                                                | ​ | ​ |             2,821 | ​ | ​ |             2,383 |
| Income tax receivable                                                                                                                                                                                                         | ​ |   |               697 | ​ |   |               697 |
| Other receivables                                                                                                                                                                                                             | ​ |   |               555 | ​ |   |               496 |
| Prepaid expenses                                                                                                                                                                                                              | ​ |   |             8,154 | ​ |   |            16,267 |
| Restricted cash                                                                                                                                                                                                               | ​ |   |               408 | ​ |   |               408 |
| Total current assets                                                                                                                                                                                                          | ​ |   |           116,158 | ​ |   |           168,910 |
| Operating lease right-of-use assets                                                                                                                                                                                           | ​ | ​ |             4,864 | ​ | ​ |             1,551 |
| Marketable securities, non-current