Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 199

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 199
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 that Tvardi may fail to monitor and comply with applicable adverse event reporting obligations or that Tvardi may
not be able to defend its business or the public’s legitimate interests in the face of the political and market pressures generated
by social media due to restrictions on what Tvardi may say about its product candidates. There is also a risk of inappropriate disclosure
of sensitive information or negative or inaccurate posts or comments about Tvardi on any social networking website. If any of these events
were to occur or Tvardi otherwise fails to comply with applicable regulations, Tvardi could incur liability, face regulatory actions or
incur other harm to its business.

​

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On September 29, 2025, Tvardi issued 1,899 shares of its common stock to a former employee for aggregate proceeds of $11,610.68 pursuant to the exercise of options with an exercise price of $6.1141 per share under Legacy Tvardi’s 2018 Stock Incentive Program. The issuance of such shares was exempt from registration under Rule 701 promulgated under Section 3(b) of the Securities Act.

​

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Item 3. Defaults Upon Senior Securities

None.

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Item 4. Mine Safety Disclosures

Not applicable.

​

Item 5. Other Information

During the three months ended September 30, 2025,
none of our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any “Rule 10b5-1 trading
arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Item 408 of Regulation S-K.

​

Item 6. Exhibits.

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| Exhibit 
 No.     | ​ | Description of Exhibit                                                                                                                                                              | ​ | Form | ​ | File No.  | ​ |               Exhibit No. | ​ | Date Filed        |
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