Company: TVRD
Filing Date: 2025-03-24
Form Type: 425
Source: 0001104659-25-027234
Chunk: 2

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-03-24
Form: 425
Chunk 2
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 by two purported Cara stockholders requesting additional information for
inclusion in the Registration Statement. The complaints assert claims against Cara and its Board of Directors, and along with the demands,
allege that the Registration Statement contains materially false and misleading statements.

Cara and the other named defendants deny that
they have violated any laws or breached any duties to stockholders of Cara, and they believe that no supplemental disclosure is required
to the proxy statement/prospectus under any applicable law, rule or regulation. Nevertheless, solely to eliminate the burden and
expense of litigation and to avoid any possible disruption to the Merger that could result from such litigation, Cara is providing
certain supplemental disclosures set forth in this Form 8-K. The supplemental information contained in this Form 8-K should
be read in conjunction with the proxy statement/prospectus, which Cara urges you to read in its entirety. Nothing in this Form 8-K
shall be deemed an admission of the legal necessity or materiality under applicable laws of any of the disclosures set forth herein. To
the extent that information in this Form 8-K differs from, or updates information contained in, the proxy statement/prospectus, the
information in this Form 8-K shall supersede or supplement the information in the proxy statement/prospectus. The information contained
in this Form 8-K speaks only as of the date of this Form 8-K, unless the information specifically indicates that another date
applies. Except as otherwise described in this Form 8-K or the documents referred to, contained in or incorporated by reference in
this Form 8-K, the proxy statement/prospectus, the annexes to the proxy statement/prospectus and the documents referred to or contained
in the proxy statement/prospectus are not otherwise modified, supplemented or amended.

If you have not already submitted a proxy for
use at the Cara virtual special meeting, you are urged to do so promptly. This Form 8-K does not affect the validity of any proxy
card or voting instructions that Cara stockholders may have previously received or delivered. No action is required by any Cara stockholder
who has previously delivered a proxy or voting instructions and who does not wish to revoke or change that proxy or voting instructions.

Supplemental Disclosures

All page references are to pages in
the proxy statement/prospectus. Where applicable, modified text is underlined and updates and supplements the information contained in
the proxy statement/prospectus.

| 1. | The following disclosure