Company: TVRD
Filing Date: 2025-01-24
Form Type: CORRESP
Source: 0001104659-25-006051
Chunk: 2

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-24
Form: CORRESP
Chunk 2
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 6. | In the second paragraph, you state that you assume an amount of Conversion Shares of approximately                                           
 46,115,173 and that you expect you will issue approximately 46,115,173 shares of your common stock in the Merger. However, on page 188,      
 you state that you expect you will issue approximately 311,701,096 shares of your common stock in the Merger. Please revise your disclosures 
 as appropriate to reconcile this apparent inconsistency.                                                                                     |

Response:
The Company respectfully acknowledges the Staff’s comment and has revised the disclosure on page 16 of the Amended Registration
Statement to correct the number of shares of common stock expected to be issued in the Merger.

MINTZ

Response:
The Company respectfully acknowledges the Staff’s comment and has revised the disclosure on page 147 of the Amended Registration
Statement to clarify the percentage of the Company’s outstanding common stock owned by directors and executive officers that are
subject to support agreements.

| 8. | Please include disclosures here regarding the deficiency letters you received from Nasdaq, the current                                 
 status of your efforts to regain compliance with Nasdaq’s minimum stockholders’ equity and minimum closing bid price requirements,     
 the deadlines for regaining compliance with these requirements, and the risk that your shares could potentially be delisted if you are 
 not successful in timely regaining compliance with these requirements. Please also update the "Risk Factors" section to address        
 this risk and any other material risks related to the deficiency letters.                                                              |

Response:
The Company respectfully acknowledges the Staff’s comment and has revised the disclosure on pages 10, 11, 232 and 233 of
the Amended Registration Statement to describe the deficiency letters received from Nasdaq, the Company’s efforts to regain compliance
and the risk of delisting if not successful in timely regaining compliance. The Company has also included a risk factor discussing such
material risks on pages 73 and 74 of the Amended Registration Statement.

Response:
The Company respectfully acknowledges the Staff’s comment and has revised the disclosure on page 151 of the Amended Registration
Statement to explain how Cara management identified CSL Vifor as a potential counterparty to the asset disposition.

MINTZ

| 10. | On page 108, you disclose that Tvardi sent you a revised term sheet on November 1, 2024 that,                                                    
 among other things, modified your net cash closing condition to $20 million. You then state that Tvardi