Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 576

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 576
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|:--|:--|:-----|:--|------:|:--|:--|:--|:---------|:--|:----|:--|:--|
| ​                  | ​ | ​ | Dollar amounts in thousands |   |       |   |   |   |          |   |       |   |   |   |      |   |       |   |   |   |          |   |     |   | ​ |
| ​                  | ​ | ​ | ​                           | ​ |     ​ | ​ | ​ | ​ | % change |   |       |   | ​ | ​ | ​    | ​ |     ​ | ​ | ​ | ​ | % change |   |     |   | ​ |
| Cost of Goods Sold | ​ | ​ | ​                           | $ | 6,174 | ​ | ​ | ​ | ​        | ​ | (15)% | ​ | ​ | ​ | ​    | $ | 7,266 | ​ | ​ | ​ | ​        | ​ | N/A | ​ | ​ |

During the years ended December 31, 2023 and 2022, Cara recorded COGS of $6.2 million and $7.3 million, respectively, which was related to its commercial supply revenue for KORSUVA injection sales to CSL Vifor. During the year ended December 31, 2023, COGS also included inventory write-downs of approximately $0.5 million. As commercialization of KORSUVA began in April 2022, no associated COGS was recorded for commercial supply revenue of $2.3 million in January 2022 as all inventory costs were incurred prior to receipt of regulatory approval of KORSUVA injection, and accordingly, were expensed as incurred (see Note 2 of Cara’s Notes to Consolidated Financial Statements as of December 31, 2023, Summary of Significant Accounting Policies — Inventories and Cost of Goods Sold (COGS) , included elsewhere in this proxy statement/prospectus).

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TABLE OF CONTENTS

Research and Development Expense

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