Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 876

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 876
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, the Company recorded $697 within income tax receivable which related to the 2020 R&D credit. A reconciliation of income taxes computed using the U.S. federal statutory rate to that reflected in operations is as follows:

F-80

TABLE OF CONTENTS

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

| ​                                              | ​ | ​ | December 31, |   |          |   |   |   |      |   |          |   |   |   |      |   |          |   | ​ |
| ​                                              | ​ | ​ |         2023 |   |          |   | ​ | ​ | 2022 |   |          |   | ​ | ​ | 2021 |   |          |   | ​ |
| Income taxes using U.S. federal statutory rate | ​ | ​ |            ​ | ​ | 21.00%   | ​ | ​ | ​ |    ​ | ​ | 21.00%   | ​ | ​ | ​ |    ​ | ​ | 21.00%   | ​ | ​ |
| State income taxes, net of federal benefit     | ​ | ​ |            ​ | ​ | 5.30%    | ​ | ​ | ​ |    ​ | ​ | (1.00)%  | ​ | ​ | ​ |    ​ | ​ | 7.84%    | ​ | ​ |
| Impact of R&D tax credit on effective tax rate | ​ | ​ |            ​ | ​ | 3.68%    | ​ | ​ | ​ |    ​ | ​ | 4.91%    | ​ | ​ | ​ |    ​ | ​ | 2.87%    | ​ | ​ |
| Stock option shortfalls and cancellations      | ​ | ​ |            ​ | ​ | (1.22)%  | ​ | ​ | ​ |    ​ | ​ | (3.33)%  | ​ | ​ | ​ |    ​ | ​ | (4.74)%  | ​ | ​ |
| Permanent items and other                      | ​ | ​ |            ​ | ​ | (0.89)%  | ​ | ​ | ​ |    ​ | ​ | (1.86)%  | ​ | ​ | ​ |    ​ | ​ | (1.29)%  | ​ | ​ |