Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 575

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 575
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 ended December 31, 2022, in conjunction with the regulatory milestone payment earned from CSL Vifor for the approval of Kapruvia by the European Commission in April 2022 (see Notes 13 and 14 of Cara’s Notes to Consolidated

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Financial Statements as of December 31, 2023, Collaboration and Licensing Agreements and Revenue Recognition , respectively, included elsewhere in this proxy statement/prospectus). Royalty revenue Cara recognized royalty revenue of approximately $415,000 and $72,000 for the years ended December 31, 2023 and 2022, respectively, which were related to its royalties on the net sales of Kapruvia in Europe prior to October 1, 2023. Beginning on October 1, 2023, royalty revenue will no longer be recognized until Cara has fulfilled its obligations under the HCR Agreement (see “— Royalty Purchase and Sale Agreement ” above). Clinical compound revenue Cara recognized clinical compound revenue of approximately $165,000 for the year ended December 31, 2023, which were related to sales of clinical compound to Maruishi. There was no clinical compound revenue for the year ended December 31, 2022 (see Note 14 of Cara’s Notes to Consolidated Financial Statements as of December 31, 2023, Revenue Recognition , included elsewhere in this proxy statement/prospectus). Other revenue Cara recognized non-cash revenue of approximately $699,000 for the year ended December 31, 2023, which represent royalties and milestone payments earned in conjunction with ex-U.S. sales of KORSUVA/ Kapruvia under its agreements with CSL Vifor and Maruishi during the fourth quarter of 2023, which were sold to HCR under the HCR Agreement. There was no non-cash revenue recognized during the years ended December 31, 2022. Cost of Goods Sold

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