Company: TVRD
Filing Date: 2025-10-07
Form Type: S-1/A
Source: 0001104659-25-097519
Chunk: 359

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-07
Form: S-1/A
Chunk 359
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 in the condensed consolidated statements of operations and comprehensive income (loss) during the three and six months ended June 30, 2025, respectively, should be added back as an adjustment to the numerator. |

The Company’s potentially dilutive securities include its stock options to purchase common stock, Preferred Stock, and Convertible Notes. For the three and six months ended June 30, 2025, the Company’s Convertible Notes have been included in the computation of diluted net loss per share as the effect for the period was determined to be dilutive, while its stock options to purchase common stock and Preferred Stock were excluded from the diluted net loss per share calculation as the effect was determined to be anti-dilutive. All of the Company’s potentially dilutive securities have been excluded from the computation of diluted net loss per share for the three and six months ended June 30, 2024, as the effect would be anti-dilutive. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2024 is the same.

The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:

| ​                                              | ​ |                                   ​ | ​ |         ​ | ​ |                                 ​ | ​ |         ​ |
| ​                                              | ​ | For the Three Months Ended June 30, |   |           | ​ | For the Six Months Ended June 30, |   |           |
| ​                                              |   |                                2025 |   |      2024 |   |                              2025 |   |      2024 |
| Preferred Stock (as converted to common stock) |   |                                   — |   | 3,963,910 |   |                                 — |   | 3,963,910 |
| Stock options to purchase common stock         |   |                           1,216,642 |   |   733,704 |   |                         1,216,642 |   |   733,704 |

F-47

13. Commitment and Contingencies Legal Matters The Company is subject to contingent liabilities, such as legal proceedings and claims, that arise in the ordinary course of business activities. The Company accrues for loss contingencies when losses become probable and are reasonably estimable. If the reasonable estimate of the loss is a range and no amount within the range is