Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 369

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 369
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 including its initial public offering, or IPO, which closed in February 2014 and fourfollow-on public offerings of common stock, which closed in July 2019, July 2018, April 2017 and August 2015, respectively, the issuance of common stock pursuant to its open market sales agreement with Jefferies LLC as sales agent in 2023, and the issuance of convertible preferred stock and debt prior to the IPO. The Company has also earned approximately $ 289,900under its license and supply agreements for difelikefalin, primarily with CSL Vifor, Maruishi, and Chong Kun Dang Pharmaceutical Corp., or CKDP, and an earlier product candidate for which development efforts ceased in 2007. Under the terms of the HCR Agreement, the Company received net proceeds of $ 36,474for the sale of future ex-U.S. royalties and milestones under Vifor Agreement No. 2 (as defined below) and the Maruishi Agreement in November and December 2023. The Company has also received aggregate net proceeds of approximately $ 98,000from the issuance and sale of the Company’s common stock to Vifor International in connection with the Company’s license agreement with CSL Vifor. As of December 31, 2024, the Company had unrestricted cash and cash equivalents of $ 37,903and an accumulated deficit of $ 755,612. The Company has incurred substantial net losses and negative cash flows from operating activities in nearly every fiscal period since inception and expects this trend to continue for the foreseeable future. The Company recognized net losses of $ 70,867, $ 118,513, and $ 85,474for the years ended December 31, 2024, 2023 and 2022, respectively. The Company had net cash used in operating activities of $ 60,917, $ 92,078, and $ 78,730for the years ended December 31, 2024, 2023 and 2022, respectively.

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#### CARA THERAPEUTICS, INC.​NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(amounts in thousands, except share and per share data)

#### The Company is subject to risks and uncertainties including, the possible delisting of its common stock from the Nasdaq Capital Market, ability to raise additional financing, and should it resume development of its product candidate or future product candidates