Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 583

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 583
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ingencies , included elsewhere in this proxy statement/prospectus for details about Cara’s operating lease. (2) Based on Cara’s MSA with Patheon that Cara entered into in July 2019, Cara had a purchase capacity reservation through December 31, 2024. Of the $1.5 million included in the table above, $0.6 million has been included within accounts payable and accrued expenses for minimum manufacturing orders through September 30, 2024. The remaining manufacturing obligations were incurred and paid for in the fourth quarter of 2024. See Note 17 of Cara’s Notes to Condensed Consolidated Financial Statements as of September 30, 2024, Commitments and Contingencies , included elsewhere in this proxy statement/ prospectus for details about Cara’s MSA with Patheon. Cara has no other material non-cancelable purchase commitments with any other contract manufacturers or service providers, as Cara has generally contracted on a cancelable purchase order basis.

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(3)

Cara was required to maintain a stand-by letter of credit as a security deposit under Cara’s new lease for office space in Stamford, Connecticut. As a result of the Assignment Agreements in September 2024, the $1.5 million of restricted cash became unrestricted in October 2024. See Note 6 of Cara’s Notes to Condensed Consolidated Financial Statements as of September 30, 2024, Restricted Cash , included elsewhere in this proxy statement/prospectus for details about Cara’s letter of credit for its lease for Cara’s principal office in Stamford, Connecticut.

Based on the Enteris License Agreement that Cara entered into in August 2019, Cara is obligated to pay (1) milestone payments upon the achievement of certain development, regulatory and commercial milestones and (2) low-single digit royalty percentages on net sales of licensed products, subject to reductions in specified circumstances. As these milestone payments may or may not be achieved, and royalties may or may not be owed depending on Cara’s future commercial success, there were no future potential payments that were considered cash requirements in the table above as of September 30, 2024. Cara did not make any milestone payments to Enteris during the three and nine months ended September 30, 2024 and 2023. See Note 17 of Cara’s Notes to Condensed Consolidated Financial Statements as of September 30, 2024, Commitments and Contingencies , included elsewhere in this proxy statement/prospectus