Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 4

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 4
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 redeemable convertible preferred stock, and stockholders' equity (deficit)                                                                                                                                                                                                                                                                                                                      | ​ | $                   |   39,021 | ​ | $                  |  35,199 | ​ |

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

​

<div align='center'>3</div>

Table of Contents

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

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited, amounts in thousands, except share and per share amounts)</div>

| ​                                                       
 ​                                                       
 ​                                                       
 Operating expenses:                                     | ​ 
 ​ | ​                          
 For the Three Months Ended 
 September 30,              
 2025                       
 ​                          |         ​ | ​ | ​    
 2024 
 ​    |         ​ | ​ 
 ​ 
 ​ 
 ​ | ​                         
 For the Nine Months Ended 
 September 30,             
 2025                      
 ​                         |         ​ | ​ | ​    
 2024 
 ​    |         ​ | ​ 
 ​ 
 ​ 
 ​ |
|:--------------------------------------------------------|:--|:---------------------------|----------:|:--|:-----|----------:|:--|:--------------------------|----------:|:--|:-----|----------:|:--|
| Research and development                                | ​ | $                          |     3,603 | ​ | $    |     4,795 | ​ | $                         |    12,520 | ​ | $    |    15,047 | ​ |
| General and administrative                              | ​ |                            |     2,335 | ​ |      |       881 | ​ |                           |     6,641 | ​ |      |     2,258 | ​ |
| Total operating expenses                                | ​ |                            |     5,938 | ​ |      |     5,676 | ​ |                           |    19,161 | ​ |      |    17,305 | ​ |
| Loss from operations                                    | ​ |                            |    -5,938 | ​ |      |    -5,676 | ​ |                           |   -19,161 | ​ |      |   -17,305 | ​ |
| Interest income                                         | ​ |                            |       411 | ​ |      |       163 | ​ |                           |     1,063 |