Company: TVRD
Filing Date: 2025-10-07
Form Type: S-1/A
Source: 0001104659-25-097519
Chunk: 356

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-07
Form: S-1/A
Chunk 356
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      Weighted-Average 
 Remaining Contractual 
       Term (In Years) | ​ 
 ​ 
 ​ | ​                   
 ​                   
 Intrinsic Value (In 
 Thousands)          |      ​ 
      ​ |
|:------------------------------------------------|:--|----------:|:--|:-----------------|-------:|:--|----------------------:|:--|:--------------------|-------:|
| Outstanding as of January 1, 2025               |   |   729,010 | ​ | $                |   3.21 |   |                  6.06 | ​ | $                   |  2,914 |
| Granted                                         |   |   397,940 | ​ |                  |  17.04 |   |                     ​ | ​ |                     |      ​ |
| Exercised(1)                                    |   |   -18,618 | ​ |                  |  22.80 |   |                     ​ | ​ |                     |      ​ |
| Forfeited/expired(2)                            |   |    -5,177 | ​ |                  |  29.35 |   |                     ​ | ​ |                     |      ​ |
| Options assumed from Cara upon Merger closing   | ​ |   113,487 | ​ | ​                | 319.80 | ​ |                     ​ | ​ | ​                   |      ​ |
| Outstanding as of June 30, 2025                 |   | 1,216,642 | ​ | $                |  36.86 |   |                  6.60 | ​ | $                   | 17,037 |
| Options exercisable as of June 30, 2025(3)      |   |   760,787 | ​ | $                |  49.61 |   |                  4.88 | ​ | $                   | 13,512 |
| Vested and expected to vest as of June 30, 2025 |   | 1,216,642 | ​ | $                |  36.86 |   |                  6.60 | ​ | $                   | 17,037 |

| (1) | Includes 17,665 of exercises of assumed Cara options after the Merger closed. |

| (2) | Includes 375 of forfeitures of assumed Cara options after the Merger closed. |

| (3) | Includes 82,918 of assumed Cara options that were forfeited/exp