Company: TVRD
Filing Date: 2025-10-20
Form Type: S-1/A
Source: 0001104659-25-100896
Chunk: 358

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-20
Form: S-1/A
Chunk 358
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, Fair Value Measurements ), which converted to common stock upon close of the Merger. Changes in estimates are recorded in the period in which they become known. Concentration of Credit Risk and of Significant Suppliers The Company’s cash and cash equivalents represent potential concentrations of credit risk. The Company deposits its cash and cash equivalents in financial institutions in amounts that may exceed federally insured limits, has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The following table presents information about the Company’s significant suppliers:

| ​        | ​ | ​ | For the Three MonthsEnded June 30, |   |     |   |   |   |      |   |     |   | ​ | ​ | For the Six MonthsEnded June 30, |   |     |   |   |   |      |   |     |   | ​ | ​ | As ofJune 30,2025     |   |     |   | ​ | ​ | As ofDecember 31,2024 |   |     |   | ​ |
| ​        | ​ | ​ |                               2025 |   |     |   | ​ | ​ | 2024 |   |     |   | ​ | ​ |                             2025 |   |     |   | ​ | ​ | 2024 |   |     |   | ​ |   |                       |   |     |   |   |   |                       |   |     |   |   |
| ​        | ​ | ​ |            % of operating expenses |   |     |   |   |   |      |   |     |   | ​ | ​ |          % of operating expenses |   |     |   |   |   |      |   |     |   | ​ | ​ | % of accounts payable |   |     |   |   |   |                       |   |     |   | ​ |
| Vendor A | ​ | ​ |                                  ​ | ​ | 45% | ​ | ​ | ​ |    ​ | ​ | 68% | ​ | ​ | ​ |                                ​ | ​ | 41% | ​ | ​ | ​ |    ​ | ​ | 61% | ​ | ​ | ​ | ​                     | ​ | 14% | ​ | ​ | ​ | ​                     | ​ | 43% | ​ | ​ |

The Company’s preclinical studies and clinical trials and testing could be