Company: TVRD
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001104659-25-111289
Chunk: 1

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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Item 1. Financial Statements

TVARDI THERAPEUTICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS 

(Unaudited, amounts in thousands, except share and per share amounts)

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​​​​​​​​​​As of September 30, ​As of December 31, ​​    2025    2024​Assets​​​​​​​Current assets: ​   ​  ​Cash and cash equivalents​$ 21,418​$ 31,614​   Short-term investments​​ 15,042​​ —​Prepaid expenses and other current assets​  1,983​  72​Total current assets​  38,443​  31,686​Property and equipment, net​  60​  84​Intangible assets, net​  338​  385​Operating lease right-of-use assets​  163​  216​Deferred offering costs​  —​  2,811​Other non-current assets​  17​  17​Total assets​$ 39,021​$ 35,199​​​​​​​​​Liabilities, Redeemable Convertible Preferred Stock, and Stockholders' Equity (Deficit)​   ​   ​Current liabilities:​   ​   ​Accounts payable​$ 4,078​  2,186​Accrued expenses​  6,849​  8,078​Operating lease liabilities, current portion​  113​  103​Total current liabilities​  11,040​  10,367​Operating lease liabilities, net of current portion​  115​  201​Convertible Notes​  —​  30,259​Total liabilities​  11,155​  40,827​​​​​​​​​Commitments and contingencies (Note 13)​   ​   ​​​​​​​​​Redeemable convertible preferred stock (Series A, B), $0.001 par value; 0 shares and 29,723,540 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 0 shares and 3,963,910 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively; aggregate liquidation preference of $0 and $85,902 as of September