Company: TVRD
Filing Date: 2025-10-20
Form Type: S-1/A
Source: 0001104659-25-100896
Chunk: 306

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-20
Form: S-1/A
Chunk 306
---
 ​                  | ​ |   1,086 | ​ | ​ | ​ | ​    | ​ |     762 | ​ | ​ |
| Accumulated deficit                                                                                                                                                                                                                                                                         | ​ | ​ | ​                  | ​ | -92,236 | ​ | ​ | ​ | ​    | ​ | -62,839 | ​ | ​ |
| Total stockholders’ deficit                                                                                                                                                                                                                                                                 | ​ | ​ | ​                  | ​ | -91,131 | ​ | ​ | ​ | ​    | ​ | -62,058 | ​ | ​ |
| Total liabilities, redeemable convertible preferred stock, and stockholders’ deficit                                                                                                                                                                                                        | ​ | ​ | ​                  | $ |  35,199 | ​ | ​ | ​ | ​    | $ |  27,001 | ​ | ​ |

The accompanying notes are an integral part of these financial statements. F-4

TABLE OF CONTENTS

Tvardi Therapeutics, Inc. Statements of Operations
(Amounts in thousands, except share and per share amounts)

| ​                                                                         
 ​                                                                         | ​ 
 ​ | ​ 
 ​ | For the Year EndedDecember 31, 
 2024                           |   |            |   | ​ | ​ | 2023 |   |            |   | ​ 
 ​ |
|:--------------------------------------------------------------------------|:--|:--|:-------------------------------|:--|-----------:|:--|:--|:--|:-----|:--|-----------:|:--|:--|
| Operating expenses:                                                       | ​ | ​ | ​                              | ​ |          ​ | ​ | ​ | ​ | ​    | ​ |          ​ | ​ | ​ |
| Research and development                                                  | ​ | ​ | ​                              | $ |     23,650 | ​ | ​ | ​ | ​    | $ |     15,866 | ​ | ​ |
| General and administrative                                                | ​ | ​ | ​                              | ​ |      4,457 | ​ | ​ | ​ | ​    | ​ |      2,799 | ​ | ​ |
| Total operating expenses                                                  | ​ | ​ | ​                              | ​ |     28,107 | ​ | ​ | ​ | ​    | ​ |     18,665 | ​ | ​ |
| Loss from operations                                                      | ​ | ​ | ​                              | ​ |    -28,107 | ​ | ​ | ​ | ​    | ​ |    -18,665