Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 430

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 430
---
 ended December 31, 2022, total incremental stock compensation expense relating to modifications of stock options, time-based and performance-based restricted stock units of the former CEO was $ 2,563, which was included in G&A expense. Of this total amount, $ 1,679was included in G&A expense in the stock option expense table above for the year ended December 31, 2022 and $ 884was included in G&A expense in the restricted stock unit expense table above for the year ended December 31, 2022.

16.Income Taxes

The Company’s pre-tax loss of $ is domestic. The Company’s benefit from income taxes is as follows:

| ​                         
 ​                         
 ​                         
 Current:                  
 Federal                   
 State                     
 ​                         
 Deferred:                 
 Federal                   
 State                     
 ​                         | ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ | ​            
 December 31, 
 2024         
 ​            |     ​ 
     — 
 (398) 
 (398) 
     — 
     — 
     — | ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ | ​    
 2023 
 ​    | ​ 
 — 
 — 
 — 
 — 
 — 
 — | ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ | ​    
 2022 
 ​    | ​ 
 — 
 — 
 — 
 — 
 — 
 — |
|:--------------------------|:--|:-------------|------:|:--|:-----|:--|:--|:-----|:--|
| Benefit from income taxes | ​ | $            |  -398 | ​ | $    | — | ​ | $    | — |

Historically, the Company’s benefit from income taxes related to state R&D tax credits exchanged for cash. The State of Connecticut provides companies with the opportunity to exchange certain R&D credit carryforwards for cash in exchange for foregoing the carryforward of the R&D credit. The program provides for such exchange of the R&D credits at a rate of % of the annual R&D credit, as defined. In the fourth quarter of 2024, the Company decided to exchange its R&D tax credit incurred during the year ended December 31, 2023. The Company opted not to exchange its R&D tax credit incurred during the year ended December 31, 2024, and was not eligible to exchange its R&D tax credit for cash during the year ended