Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 355

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 355
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 2025, the Company evaluated all available evidence and concluded that a valuation allowance is still required against its net deferred tax assets because it is more likely than not they will not be realized in the foreseeable future.

F-45

13.Net Loss Per Share

Basis and diluted net loss per share attributable to common stockholders was calculated as follows (dollar amounts in thousands):

| ​                                                                         
 ​                                                                         
 ​                                                                         
 Numerator:                                                                | ​ 
 ​ | ​                                    
 For the Three Months Ended March 31, 
 2025                                 
 ​                                    |          ​ | ​ | ​    
 2024 
 ​    |          ​ |
|:--------------------------------------------------------------------------|:--|:-------------------------------------|-----------:|:--|:-----|-----------:|
| Net loss attributable to common stockholders                              | ​ | $                                    |     -9,579 | ​ | $    |     -4,202 |
| ​                                                                         | ​ | ​                                    |          ​ | ​ | ​    |          ​ |
| Denominator:                                                              | ​ |                                      |            | ​ |      |            |
| Weighted-average common shares outstanding, basic and diluted             | ​ |                                      | 19,203,089 | ​ |      | 19,181,898 |
| Net loss per share attributable to common stockholders, basic and diluted | ​ | $                                    |      -0.50 | ​ | $    |      -0.22 |

The Company’s potentially dilutive securities, which include stock options to purchase common stock and Preferred Stock, have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same.

The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:

| ​                                              | ​ |                                    ​ | ​ |          ​ |
| ​                                              |   | For the Three Months Ended March 31, |   |            |
| ​                                              | ​ |                                 2025 |   |       2024 |
| Preferred stock (as converted to common stock) |   |                           29,555,538 |   | 29,555,538 |
| Stock options to purchase common stock         |   |                            5,415,213 |   |  5,455,629 |

The Company’s Convert