Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 595

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 595
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| ​                                                                     | ​ | ​ | Dollar amounts in thousands |   |         |   |   |   |      |   |         |   | ​ |
| Net cash used in operating activities                                 | ​ | ​ | ​                           | $ | -92,078 | ​ | ​ | ​ | ​    | $ | -78,730 | ​ | ​ |
| Net cash provided by (used in) investing activities                   | ​ | ​ | ​                           | ​ |  43,461 | ​ | ​ | ​ | ​    | ​ | 128,707 | ​ | ​ |
| Net cash provided by financing activities                             | ​ | ​ | ​                           | ​ |  38,151 | ​ | ​ | ​ | ​    | ​ |     311 | ​ | ​ |
| Net (decrease) increase in cash, cash equivalents and restricted cash | ​ | ​ | ​                           | $ | -10,466 | ​ | ​ | ​ | ​    | $ |  50,288 | ​ | ​ |

Net cash used in operating activities Net cash used in operating activities for the year ended December 31, 2023 consisted primarily of a net loss of $118.5 million, partially offset by a $16.3 million cash inflow from net non-cash charges and a

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$10.2 million cash inflow from net changes in operating assets and liabilities. Net non-cash charges primarily consisted of stock-based compensation expense of $13.7 million, and the noncash lease expense of $2.1 million relating to Cara’s current and former Stamford operating leases. The change in operating assets and liabilities primarily consisted of cash inflows from a decrease in prepaid expenses of $8.1 million, primarily related to prepaid clinical costs, an increase in accounts payable and accrued expenses of $3.3 million due to increased expenses in the period, and an $0.8 million reimbursement of a lease incentive under Cara’s new lease agreement that Cara entered into in May 2023, partially offset by a cash outflow of $1.9 million relating to operating lease liabilities associated with former lease agreements for Cara’s former operating facility in Stamford, Connecticut.

Net cash used in operating activities for the year ended December 31, 2022 consisted primarily of a net loss of $85.5 million and a $12.9