Company: TVRD
Filing Date: 2025-11-13
Form Type: 424B3
Source: 0001104659-25-111336
Chunk: 132

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 424B3
Chunk 132
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 both national
and regional, challenging patents or patent applications in which Tvardi has rights, including patents on which Tvardi relies to protect
its business. An adverse determination in any such challenges may result in loss of the patent or claims in the patent portfolio being
narrowed, invalidated or held unenforceable, in whole or in part, or in denial of the patent application or loss or reduction in the scope
of one or more claims of the patent portfolio, any of which could limit Tvardi’s ability to stop others from using or commercializing
similar or identical technology and products, or limit the duration of the patent protection of Tvardi’s technology and products.

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Pending and future patent applications may not result
in patents being issued that protect Tvardi’s business, in whole or in part, or which effectively prevent others from commercializing
competitive products. Competitors may also be able to design around Tvardi’s own and in-licensed patents. Changes in either the
patent laws or interpretation of the patent laws in the United States and other countries may diminish the value of Tvardi’s own
and in-licensed patents or narrow the scope of its own and in-licensed patent protection. In addition, the laws of foreign countries may
not protect Tvardi’s rights to the same extent or in the same manner as the laws of the United States. For example, patent laws
in various jurisdictions, including jurisdiction covering significant commercial markets, such as the European Patent Office, China and
Japan, restrict the patentability of methods of treatment of the human body more than U.S. law does. If these developments were to occur,
they could have a material adverse effect on Tvardi’s ability to generate revenue.

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The patent application process is subject to numerous risks and uncertainties, and there can be no assurance that Tvardi, its licensor or any future collaborators or partners will be successful in protecting Tvardi’s product candidates by obtaining and defending patents.

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The patent application process is subject to numerous
risks and uncertainties, including that:

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| ● | the USPTO and various foreign governmental patent agencies require compliance with a number of procedural, documentary, fee payment and other provisions during the patent process. There are situations in which noncompliance, whether intentional or not, can result in abandonment or lapse of a patent or patent application, resulting in partial or complete loss of patent rights in the relevant jurisdiction. In such an event, competitors might be able to