Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 796

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 796
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        | ​ |              |   |
| U.S. government agency obligations        | ​ |       |   8,877 | ​ |                    |      — | ​ |                   |  8,877 | ​ |              | — |
| Corporate bonds                           | ​ |       |  35,185 | ​ |                    |      — | ​ |                   | 35,185 | ​ |              | — |
| Commercial paper                          | ​ |       |  26,875 | ​ |                    |      — | ​ |                   | 26,875 | ​ |              | — |
| Municipal bonds                           | ​ | ​     |  22,071 | ​ | ​                  |      — | ​ | ​                 | 22,071 | ​ | ​            | — |
| Restricted cash:                          | ​ |       |         | ​ |                    |        | ​ |                   |        | ​ |              |   |
| Commercial money market account           | ​ |       |     408 | ​ |                    |    408 | ​ |                   |      — | ​ |              | — |
| Total financial assets                    | ​ | $     | 157,157 | ​ | $                  | 64,149 | ​ | $                 | 93,008 | ​ | $            | — |

There werenopurchases,salesormaturitiesof Level 3 financial assets andnounrealized gains orlossesrelated to Level 3 available-for-sale marketable securities for the years ended December 31, 2023, 2022 and 2021. There werenotransfers of financial assetsbetweenLevels1, 2, or 3 classifications during the years ended December 31, 2023 and 2022.

13. Collaboration and Licensing Agreements Vifor (International) Ltd. (Vifor International) In October 2020, the Company entered into a license agreement with Vifor International, or Vifor Agreement No. 1, under which the Company granted Vifor International an exclusive license solely in the United States to use, distribute, offer for sale, promote, sell and otherwise commercialize difelikefalin injection for all therapeutic uses relating to the inhibition, prevention or

F-62

<div align='center'>CARA THERAPEUTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(amounts in thousands, except share and per share data)</div>

treatment of