Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 576

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 576
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 approximately $0.5 million. As commercialization of KORSUVA began in April 2022, no associated COGS was recorded for commercial supply revenue of $2.3 million in January 2022 as all inventory costs were incurred prior to receipt of regulatory approval of KORSUVA injection, and accordingly, were expensed as incurred (see Note 2 of Cara’s Notes to Consolidated Financial Statements as of December 31, 2023, Summary of Significant Accounting Policies — Inventories and Cost of Goods Sold (COGS) , included elsewhere in this proxy statement/prospectus).

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TABLE OF CONTENTS

Research and Development Expense

| ​                                                 
 ​                                                 | ​ 
 ​ | ​ 
 ​ | Year Ended December 31,     
 2023                        |   |         |   |   |   |          |   |       |   | ​ | ​ | 2022 |   |        |   |   |   |          |   |       |   | ​ 
 ​ |
|:--------------------------------------------------|:--|:--|:----------------------------|:--|--------:|:--|:--|:--|:---------|:--|:------|:--|:--|:--|:-----|:--|-------:|:--|:--|:--|:---------|:--|:------|:--|:--|
| ​                                                 | ​ | ​ | Dollar amounts in thousands |   |         |   |   |   |          |   |       |   |   |   |      |   |        |   |   |   |          |   |       |   | ​ |
| ​                                                 | ​ | ​ | ​                           | ​ |       ​ | ​ | ​ | ​ | % change |   |       |   | ​ | ​ | ​    | ​ |      ​ | ​ | ​ | ​ | % change |   |       |   | ​ |
| Direct clinical trial costs                       | ​ | ​ | ​                           | $ |  67,434 | ​ | ​ | ​ | ​        | ​ | 39%   | ​ | ​ | ​ | ​    | $ | 48,668 | ​ | ​ | ​ | ​        | ​ | 56%   | ​ | ​ |
| Consultant services in support of clinical trials | ​ | ​ | ​                           | ​ |   5,055 | ​ | ​ | ​ | ​