Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 127

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 127
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, offering, providing, soliciting or receiving directly or indirectly, corrupt or improper
payments or anything else of value to or from recipients in the public or private sector. Violations of Trade Laws can result in substantial
criminal fines and civil penalties, imprisonment, the loss of trade privileges, debarment, tax reassessments, breach of contract and fraud
litigation, reputational harm and other consequences. Tvardi has direct or indirect interactions with officials and employees of government
agencies or government-affiliated hospitals, universities and other organizations. Tvardi also expects its non-U.S. activities to increase
in time. Tvardi plans to engage third parties for clinical trials and/or to obtain necessary permits, licenses, patent registrations and
other regulatory approvals and it can be held liable for the corrupt or other illegal activities of its

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personnel, agents or partners, even if Tvardi does not explicitly authorize
or have prior knowledge of such activities.

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Risks Related to Tvardi’s Intellectual Property

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Tvardi’s commercial success depends in part on its and its current or future licensors’, including Baylor College of Medicine (BCM), ability to obtain, maintain, enforce, and otherwise protect its intellectual property and proprietary technology, and if the scope of the intellectual property protection obtained is not sufficiently broad, Tvardi’s competitors or other third parties could develop and commercialize similar products and product candidates and Tvardi’s ability to successfully develop and commercialize its product candidates may be adversely affected.

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Tvardi’s commercial success depends, in large
part, on its ability and the ability of its current and future licensors to obtain and maintain intellectual property rights protection
through patents, trademarks and trade secrets in the United States and other countries with respect to its product candidates. If Tvardi
and its current and future licensor do not adequately protect Tvardi’s intellectual property rights, competitors or other third
parties may be able to erode, negate or preempt any competitive advantage Tvardi may have, which could harm its business and ability to
achieve profitability.

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If the scope of the patent protection Tvardi obtains
is not sufficiently broad, it may not be able to prevent others from developing and commercializing technology and products similar or
identical to Tvardi’s product candidates. The degree of patent protection Tvardi requires to successfully compete in the marketplace
may be unavailable or severely limited in some cases and