Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 7

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 7
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 | ​ |                                         |     531 | ​ |      |       5 | ​ |
| Net cash provided by (used in) financing activities                         | ​ |                                         |  22,702 | ​ |      |      -9 | ​ |
| Net decrease in cash and cash equivalents                                   | ​ |                                         | -10,196 | ​ |      | -13,481 | ​ |
| Cash and cash equivalents - beginning of period                             | ​ |                                         |  31,614 | ​ |      |  22,919 | ​ |
| Cash and cash equivalents - end of period                                   | ​ | $                                       |  21,418 | ​ | $    |   9,438 | ​ |
| ​                                                                           | ​ | ​                                       |       ​ | ​ | ​    |       ​ | ​ |
| Non-cash investing and financing activities                                 | ​ |                                         |         | ​ |      |         | ​ |
| Merger transaction costs included in accounts payable                       | ​ | $                                       |       — | ​ | $    |   1,069 | ​ |
| Conversion of redeemable convertible preferred stock to common stock        | ​ | $                                       |  85,503 | ​ | $    |       — | ​ |
| Conversion of Convertible Notes to common stock                             | ​ | $                                       |  23,100 | ​ | $    |       — | ​ |

<div align='center'>The accompanying notes are an
integral part of these condensed consolidated financial statements.</div>

​

<div align='center'>6</div>

Table of Contents

<div align='center'>TVARDI THERAPEUTICS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)</div>

​

1.Nature of the Business and Basis of Presentation

Tvardi Therapeutics, Inc. and subsidiaries
(Tvardi or the Company) is a Delaware corporation headquartered in Houston, Texas. The Company is a clinical-stage biopharmaceutical company
focused on the development of novel, oral, small molecule therapies targeting STAT3 to treat fibrosis-driven diseases with significant
unmet need. Based upon its founder’s seminal work and deep understanding of the transcription factor STAT3, the Company has designed
an innovative approach to directly inhibit STAT3, a highly validated, yet historically undruggable target. Leveraging this expertise,
the Company is developing a pipeline of STAT3 inhibitors with a differentiated mechanism of action