Company: TVRD
Filing Date: 2025-10-20
Form Type: S-1/A
Source: 0001104659-25-100896
Chunk: 340

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-20
Form: S-1/A
Chunk 340
---
000 | ​ | ​ | ​ | ​                              | ​ | 0.82 | ​ | ​ | ​ | ​                                                   | ​ |    ​ | ​ | ​ | ​ | ​                             | ​ |     ​ | ​ | ​ |
| Outstanding as of December 31, 2024                | ​ | ​ | ​                | ​ | 5,435,629 | ​ | ​ | ​ | ​                              | $ | 0.43 | ​ | ​ | ​ | ​                                                   | ​ | 6.06 | ​ | ​ | ​ | ​                             | $ | 2,914 | ​ | ​ |
| Options exercisable as of December 31, 2024        | ​ | ​ | ​                | ​ | 4,582,807 | ​ | ​ | ​ | ​                              | $ | 0.38 | ​ | ​ | ​ | ​                                                   | ​ | 5.78 | ​ | ​ | ​ | ​                             | $ | 2,700 | ​ | ​ |
| Vested and expected to vest as of December 31,2024 | ​ | ​ | ​                | ​ | 5,435,629 | ​ | ​ | ​ | ​                              | $ | 0.43 | ​ | ​ | ​ | ​                                                   | ​ | 6.06 | ​ | ​ | ​ | ​                             | $ | 2,914 | ​ | ​ |

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock options and the estimated fair value of the Company’s common stock for those stock options that had exercise prices lower than the estimated fair value of the Company’s common stock. The aggregate intrinsic value of stock options exercised during each of the years ended December 31, 2024 and 2023 was less than $0.1 million. The weighted-average grant-date fair value of options granted during the years ended December 31, 2024 and 2023 was $0.62 and $0.52, respectively. As of December 31, 2024, there was $0.3 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 1.38 years. The following table illustrates the classification of stock-based compensation in the statements of operations (in thousands):

| ​                              
 ​                              | ​ 
 ​ | ​ 
 ​ | For the Year EndedDecember 31, 
 202