Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 922

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 922
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 ​ | ​ |
| Other                                     | ​ | ​ | ​                              | ​ |     39 | ​ | ​ | ​ | ​    | ​ |      2 | ​ | ​ |
| Total income tax                          | ​ | ​ | ​                              | $ |      — | ​ | ​ | ​ | ​    | $ |      — | ​ | ​ |

The Company’s significant components of deferred tax assets are as follows (in thousands):

| ​                                                  
 ​                                                  | ​ 
 ​ | ​ 
 ​ | December 31, 
 2023         |   |         |   | ​ | ​ | 2022 |   |        |   | ​ 
 ​ |
|:---------------------------------------------------|:--|:--|:-------------|:--|--------:|:--|:--|:--|:-----|:--|-------:|:--|:--|
| Federal net operating loss carryforwards           | ​ | ​ | ​            | $ |   7,235 | ​ | ​ | ​ | ​    | $ |  5,882 | ​ | ​ |
| Capitalized research and development expense       | ​ | ​ | ​            | ​ |   5,665 | ​ | ​ | ​ | ​    | ​ |  3,470 | ​ | ​ |
| Tax credits                                        | ​ | ​ | ​            | ​ |     417 | ​ | ​ | ​ | ​    | $ |    417 | ​ | ​ |
| Other                                              | ​ | ​ | ​            | ​ |     100 | ​ | ​ | ​ | ​    | ​ |     43 | ​ | ​ |
| Net deferred tax assets before valuation allowance | ​ | ​ | ​            | ​ |  13,417 | ​ | ​ | ​ | ​    | ​ |  9,812 | ​ | ​ |
| Valuation allowance                                | ​ | ​ | ​            | ​ | -13,417 | ​ | ​ | ​ | ​    | ​ | -9,812 | ​ | ​ |
| Net deferred tax assets after valuation allowance  | ​ | ​ | ​            | $ |       — | ​ | ​ | ​ | ​    | $ |      — | ​ | ​ |

As of December 31, 2023 and 2022, the Company had a federal net operating loss, or NOL, carryforward of $34.5 million and $28