Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 559

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 559
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 on Cara’s Condensed Consolidated Statement of Comprehensive Loss for the three and nine months ended September 30, 2024. Income Taxes Historically, Cara’s benefit from income taxes related to state R&D tax credits exchanged for cash pursuant to the Connecticut R&D Tax Credit Exchange Program, which permits qualified small businesses engaged in R&D activities within Connecticut to exchange their unused R&D tax credits for a cash amount equal to 65% of the value of the exchanged credits. The Inflation Reduction Act of 2022 included tax legislation that became effective early in 2023. Significant legislation for corporate taxpayers includes a corporate alternative minimum tax of 15.0% for companies with $1.0 billion or more in average net financial statement profits over the three previous years, as well as a 1.0% indirect excise tax on the repurchase of shares by a publicly traded company. Cara does not expect this legislation to have an effect on Cara’s tax provision as of September 30, 2024; however, Cara will continue to evaluate the effect on the tax provision each reporting period. Results of Operations Comparison of the Three and Nine Months Ended September 30, 2024 and 2023 Revenue

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