Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 952

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 952
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| Vested and expected to vest as of September 30, 2024 | ​ | ​ | ​                | ​ | 5,450,941 | ​ | ​ | ​ | ​                              | $ | 0.44 | ​ | ​ | ​ | ​                                                  | ​ | 6.32 | ​ | ​ | ​ | ​                            | $ | 2,644 | ​ | ​ |

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock options and the estimated fair value of the Company’s common stock for those stock options that had exercise prices lower than the estimated fair value of the Company’s common stock. The weighted-average grant-date fair value of options granted during the nine months ended September 30, 2024 and 2023 was $0.62 and $0.52, respectively. As of September 30, 2024, there was $0.4 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 1.55 years. The following table illustrates the classification of stock-based compensation in the statements of operations (in thousands):

| ​                              
 ​                              | ​ 
 ​ | ​ 
 ​ | For the Nine Months EndedSeptember 30, 
 2024                                   |   |     |   | ​ | ​ | 2023 |   |     |   | ​ 
 ​ |
|:-------------------------------|:--|:--|:---------------------------------------|:--|----:|:--|:--|:--|:-----|:--|----:|:--|:--|
| Research and development       | ​ | ​ | ​                                      | $ |  86 | ​ | ​ | ​ | ​    | $ |  84 | ​ | ​ |
| General and administrative     | ​ | ​ | ​                                      | ​ | 154 | ​ | ​ | ​ | ​    | ​ | 145 | ​ | ​ |
| Total stock-based compensation | ​ | ​ | ​                                      | $ | 240 | ​ | ​ | ​ | ​    | $ | 229 | ​ | ​ |

F-129

TABLE OF CONTENTS

Tvardi Therapeutics, Inc. Notes to CONDENSED Financial Statements
(Unaudited) 11. Income Taxes For the three and nine months ended September 30, 2024 and 2023, there was no current or deferred income tax expense