Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 427

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 427
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 31, 2024 (in years) |   |      7.32 | ​ |                  |        | ​ |           |   |
| Options exercisable, December 31, 2024                                         |   |    61,867 | ​ | $                | 454.26 | ​ | $         | — |
| Weighted average remaining contractual life as of December 31, 2024 (in years) |   |      6.08 | ​ |                  |        | ​ |           |   |
| Options vested and expected to vest as of December 31, 2024                    |   |   113,487 | ​ | $                | 319.86 | ​ | $         | — |
| Weighted average remaining contractual life as of December 31, 2024 (in years) |   |      7.32 | ​ |                  |        | ​ |           |   |

The total fair value of options vested during the years ended December 31, 2024, 2023 and 2022 was $, $, and $, respectively. The intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $, $, and $, respectively.

During the years ended December 31, 2024, 2023 and 2022, the Company granted , and stock options, respectively, to employees and non-employee members of the Board of Directors. There were options granted to nonemployee consultants during the years ended December 31, 2024, 2023 and 2022. The fair values of the stock options granted to those groups

F-88

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

were estimated using the Black-Scholes option valuation model with the following ranges of assumptions (see Note 2, Summary of Significant Accounting Policies – Stock-Based Compensation):

| ​                                                      
 ​                                                      
 ​                                                      | ​ 
 ​ |                       ​ 
 Year Ended December 31, 
                    2024 | ​ |            ​ 
         2023 | ​ |            ​ 
         2022 | ​ 
 ​ |
|:-------------------------------------------------------|:--|------------------------:|:--|-------------:|:--|-------------:|:--|
| Risk-free interest rate                                |   |            4.