Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 747

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 747
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 to the Company as of September 30, 2024. Beginning on July 28, 2023 and during the entire term of the New Lease, interest expense is calculated using the effective interest method and the ROU asset (including prepaid rent) would be amortized on a straight-line basis over the lease term, and both would be recorded as lease expense. As a result, lease expense of $ 241 and $ 766 for the New Lease was recorded for the three and nine months ended September 30, 2024, consisting of $ 241 relating to G&A lease expense for the three months ended September 30, 2024, and $ 368 relating to R&D expense and $ 398 relating to G&A expense for the nine months ended September 30, 2024. Lease expense of $ 214 for the New Lease was recorded for each of the three and nine months ended September 30, 2023, consisting of $ 150 relating to R&D lease expense and $ 64 relating to G&A lease expense. Assignment of New Lease (in September 2024) On September 26, 2024, the Company entered into the Assignment Agreements in which its corporate lease, leasehold improvements, and other property and equipment from its corporate office were transferred to a third party on November 1, 2024. The Company determined that the modified lease agreement on September 26, 2024, or the Modification Date, was a lease with a termination date of November 1, 2024, which did not result in a separate contract. As a result, the Company remeasured the remaining consideration in the Assignment Agreements to include a cash lease payment of $ 3,238 and a release payment of $ 1,125 (that were both paid in September 2024), as well as a non-cash lease payment of $ 3,417 that included the fair value of the leasehold improvements and furniture and fixtures that was assigned to the third party on November 1, 2024.

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CARA THERAPEUTICS, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (amounts in thousands, except share and per share data) (unaudited)

The Company reassessed the classification of the Assignment Agreements on the Modification Date and determined that the modified lease continued to be an operating lease. The Company also incurred$ 577of initial direct costs for the Assignment Ag