Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 360

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 360
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                                      | ​ |                                      |    609 | ​ |      |    523 |
| Other general and administrative expenses (3)        | ​ |                                      |    634 | ​ |      |    204 |
| Interest income                                      | ​ |                                      |   -275 | ​ |      |   -246 |
| Other expense                                        | ​ |                                      |  5,500 | ​ |      |      — |
| Net loss                                             | ​ | $                                    | -9,579 | ​ | $    | -4,202 |

| (1) | Pre-clinical, CMC, and other (unallocated) costs includes pre-clinical testing, CMC, and other direct research and development expenses that are not allocated to a specific program. |

| (2) | Consultant fees and other costs includes expenses incurred for research and development consultants as well as payroll costs for employees within the research and development function. |

| (3) | Other general and administrative expenses include professional fees, accounting services, rent, and other overhead and administrative expenses. |

Assets provided to the CODM are consistent with those reported on the balance sheets.

F-48

18. Related-party Transactions During the three months ended March 31, 2025 and 2024, the Company did not have any transactions with related parties. The Company evaluates transactions with counterparties who may be considered related parties, including owners, members of management or affiliates and then discloses the nature and amounts of those transaction in the notes to its financial statements.

19.Subsequent Events

Management has evaluated all subsequent events through May 13, 2025, which was the date the financial statements were available to be issued. The Company has determined that there are no subsequent events to be reported other than those listed below.

As discussed in Note 1, Description of Business and Basis of Presentation, on April 15, 2025, pursuant to the terms of the Merger Agreement entered into on December 17, 2024, Merger Sub merged with and into the Company, with the Company surviving as a wholly-owned subsidiary of Cara. The Merger will be accounted for as an in-substance reverse recapitalization of Cara by Tvardi. Under this method of accounting, Tvardi will be considered the accounting acquirer for financial reporting purposes.

Upon the closing of the Merger:

| ● | Cara changed its corporate name to Tvardi Therapeutics, Inc. |

| ● | the business of the Company continues as