Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 403

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 403
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CR under the HCR Agreement, if not achieved on or prior to December 31, 2029. After the HCR Agreement expires, all rights to receive the Royalties return to Cara Royalty Sub. Issuance costs pursuant to the HCR Agreement consisting primarily of advisory and legal fees totaled $ 1,025including the amount of HCR’s transaction-related expenses that the Company reimbursed. The effective interest rate includes cash flow projections for future royalty and milestone payments, which are sensitive to certain assumptions, including market size, market penetration and sales price, that are forward looking and could be affected by future market conditions. During the year ended December 31, 2024, $ 3,604was repaid to HCR under the HCR Agreement. There was norepayment made for the year ended December 31, 2023 as the first repayment was made in the first quarter of 2024.

F-76

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

The following table summarizes the activity of the HCR Agreement (in thousands):

| ​                                                                | ​ | ​ |      ​ | ​ |
|:-----------------------------------------------------------------|:--|:--|-------:|:--|
| Royalty purchase and sale agreement balance at December 31, 2023 |   | $ | 37,079 |   |
| Payments                                                         |   | ​ | -3,604 | ​ |
| Non-cash interest expense                                        |   | ​ |  8,473 | ​ |
| Receivable for additional HCR financing earned                   | ​ | ​ |  2,500 | ​ |
| Balance at December 31, 2024                                     | ​ | $ | 44,448 | ​ |
| ​                                                                | ​ | ​ |      ​ | ​ |
| Effective interest rate                                          | ​ |   |  27.82 | % |

11. Stockholders’ Equity On June 7, 2024, the Company filed a Certificate of Amendment to its Certificate of Incorporation, or the Certificate, with the Secretary of State of the State of Delaware, which the Company’s stockholders approved at the Company’s Annual Meeting of Stockholders on June 4, 2024. The Certificate increased the authorized number of shares of common stock of the Company from 100,000,000shares to 200,000,000shares (before giving