Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 559

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 559
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 certain payments to HCR from and after the date thereof relating to certain revenue and/or royalties from difelikefalin, (ii) each of the Contribution Agreement, the License Agreement and the Pledge Agreement (each as defined in the Original HCR Agreement) shall be terminated, and (iii) Sellers shall have no further payment or other obligations to HCR under the Original HCR Agreement. Additionally, pursuant to the APA, at the consummation of the Asset Disposition, Cara has agreed to pay CSL Vifor $3.0 million to compensate CSL Vifor for the estimated incremental future expenses to be incurred by CSL Vifor as a result of the transfer of the assets to be acquired and the liabilities to be assumed by it in connection with the Asset Disposition. The Asset Disposition is subject to certain conditions to closing, including either (i) the consummation of the Merger concurrently with the Asset Disposition or (ii) the receipt of the requisite stockholder approval needed to approve the Asset Disposition in the event that the Merger is terminated. Cara does not have any other requirements or off-balance sheet arrangements that have or are reasonably likely to have a material current or future effect on its financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, cash requirements or capital resources. Since inception, Cara has incurred significant operating and net losses. Cara incurred net losses of $12.5 million and $28.0 million for the three months ended September 30, 2024 and 2023, respectively, and $63.2 million and $86.2 million for the nine months ended September 30, 2024. As of September 30, 2024, Cara had an accumulated deficit of $747.9 million. Cara’s financial results may fluctuate significantly from quarter to quarter and year to year, depending on the timing of Cara’s clinical trials, should Cara resume the development of any future product candidates, and the future sales of KORSUVA. Cara anticipates that its expenses will be focused on:

| ● | the discontinuation of Cara’s clinical program for oral difelikefalin for chronic pruritus associated with NP; and |

| ● | the exploration of strategic alternatives to maximize shareholder value. |

Should Cara resume the development of any future product candidate, the successful development of any future product candidate is highly uncertain. As such, at this time, Cara cannot reasonably estimate or know the nature, timing and costs of