Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 823

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 823
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 option valuation model with the following ranges of assumptions (see Note 2,Summary of Significant Accounting Policies – Stock-Based Compensation):

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 ​ 
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                       ​ 
 Year Ended December 31, 
                    2023 | ​ 
 ​ |            ​ 
            ​ 
         2022 | ​ 
 ​ |            ​ 
            ​ 
         2021 | ​ 
 ​ |
|:-------------------------------------------------------|:--|------------------------:|:--|-------------:|:--|-------------:|:--|
| Risk-free interest rate                                |   |            3.38% - 4.65 | % | 1.70% - 4.21 | % | 0.66% - 1.41 | % |
| Expected volatility                                    |   |            76.3% - 81.3 | % | 77.7% - 81.9 | % | 71.6% - 83.5 | % |
| Expected dividend yield                                |   |                       0 | % |            0 | % |            0 | % |
| Expected life of employee and Board options (in years) |   |                    6.25 |   |         6.25 |   |         6.25 | ​ |

F-75

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

The weighted average grant date fair value of options granted to employees and non-employee members of the Board of Directors for their Board service during the years ended December 31, 2023, 2022 and 2021 was$ 5.75,$ 7.25, and$ 12.00, respectively.

During the years ended December 31, 2023, 2022 and 2021, the Company recognized compensation expense relating to stock options as follows:

| ​                          
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 ​                       
 Year Ended December 31, |      ​ 
      ​ 
   2023 | ​ 
 ​ | ​ 
 ​ |      ​ 
      ​ 
   2022 | ​ 
 ​ | ​ 
 ​ |      ​ 
      ​ 
   2021 |
|:---------------------------|:--|:------------------------|-------:|:--