Company: TVRD
Filing Date: 2025-10-20
Form Type: S-1/A
Source: 0001104659-25-100896
Chunk: 302

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-20
Form: S-1/A
Chunk 302
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| Reports of Independent Registered Public Accounting Firm                                                                                          | ​ | ​ | ​       | ​ | F-2  | ​ | ​ |
| Balance Sheets                                                                                                                                    | ​ | ​ | ​       | ​ | F-4  | ​ | ​ |
| Statements of Operations and Comprehensive Loss                                                                                                   | ​ | ​ | ​       | ​ | F-5  | ​ | ​ |
| Statements of Redeemable Convertible Preferred Stock and Stockholders’ Deficit                                                                    | ​ | ​ | ​       | ​ | F-6  | ​ | ​ |
| Statements of Cash Flows                                                                                                                          | ​ | ​ | ​       | ​ | F-7  | ​ | ​ |
| Notes to Financial Statements                                                                                                                     | ​ | ​ | ​       | ​ | F-8  | ​ | ​ |
| Unaudited Condensed Financial Statements as of June 30, 2025 and December 31, 2024 and for the Three and Six Months ended June 30, 2025 and 2024: | ​ | ​ |         |   |      |   |   |
| Condensed Consolidated Balance Sheets                                                                                                             | ​ | ​ | ​       | ​ | F-31 | ​ | ​ |
| Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)                                                                   | ​ | ​ | ​       | ​ | F-32 | ​ | ​ |
| Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit)                                    | ​ | ​ | ​       | ​ | F-33 | ​ | ​ |
| Condensed Consolidated Statements of Cash Flows                                                                                                   | ​ | ​ | ​       | ​ | F-34 | ​ | ​ |
| Notes to Unaudited Condensed Consolidated Financial Statements                                                                                    | ​ | ​ | ​       | ​ | F-35 | ​ | ​ |

F-1

TABLE OF CONTENTS

### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Stockholders and the Board of Directors of Tvardi Therapeutics, Inc.

### Opinion on the Financial Statements
We have audited the accompanying balance sheets of Tvardi Therapeutics, Inc. (the “Company”) as of December 31, 2024 and 202