Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 614

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 614
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 ​ | ​       | ​ | 1755.7% | ​ | ​ |
| Unallocated research and development expense:        | ​ | ​ | ​                       | ​ |      ​ | ​ | ​ | ​ | ​    | ​ |      ​ | ​ | ​ | ​ | ​      | ​ |      ​ | ​ | ​ | ​ | ​       | ​ | ​       | ​ | ​ |
| Personnel costs (including stock-based compensation) | ​ | ​ | ​                       | ​ |  2,900 | ​ | ​ | ​ | ​    | ​ |  1,709 | ​ | ​ | ​ | ​      | ​ |  1,191 | ​ | ​ | ​ | ​       | ​ | 69.7%   | ​ | ​ |
| Consultant fees and other costs                      | ​ | ​ | ​                       | ​ |  1,144 | ​ | ​ | ​ | ​    | ​ |  1,695 | ​ | ​ | ​ | ​      | ​ |   -551 | ​ | ​ | ​ | ​       | ​ | (32.5)% | ​ | ​ |
| Total research and development expenses              | ​ | ​ | ​                       | $ | 15,866 | ​ | ​ | ​ | ​    | $ | 18,466 | ​ | ​ | ​ | ​      | $ | -2,600 | ​ | ​ | ​ | ​       | ​ | (14.1)% | ​ | ​ |

Research and development expenses were $15.9 million for the year ended December 31, 2023, compared to $18.5 million for the year ended December 31, 2022. The decrease of $2.6 million was primarily driven by a decrease of $3.2 million in direct costs related to Tvardi’s research and development programs, offset by a $0.6 million increase of unallocated research and development expenses. The decrease of $4.6 million related to Tvardi’s product candidate TTI-101 was partially driven by a decrease of $6.0 million in pre-clinical, CMC and other unallocated direct costs primarily attributable to (i) reductions in the production of API and tablets for use in TTI-101 clinical trials and (ii) reduced spend on preclinical testing as Tvardi moved forward in clinical trials. This decrease was partially offset by increased costs for Tvardi’s