Security
Tvardi Therapeutics, Inc. Common Stock · TVRD
TVRDNASDAQCommon stockCurrentCIK 1346830Updated Oct 6, 2026
Name history
Cara Therapeutics, Inc. · through Apr 11, 2025Cara Therapeutics Inc · through Jul 21, 2010
TVRD price & chart
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NASDAQ:TVRD on TradingView ↗About the company
Tvardi is a clinical-stage biopharmaceutical company focused on the development of novel, oral, small molecule therapies targeting STAT3 to treat inflammatory and proliferative diseases with significant unmet need. STAT3 is a central mediator across critical signaling pathways that drive uncontrolled proliferation, survival and immune dysregulation. STAT3 is also positioned at the intersection of many signaling pathways integral to the survival and immune evasion of cancer cells. The Company is conducting clinical trials with TTI-109 in healthy volunteers and TTI-101 in hepatocellular carcinoma (NCT05440708). To learn more, please visit tvarditherapeutics.com or follow us on LinkedIn and X (Twitter).
In the news
Tvardi Therapeutics to Participate in the Raymond James Biotech Innovation Symposium ↗
SHAREHOLDER INVESTIGATION: Faruqi & Faruqi, LLP Examining Potential Securities Law Violations at Tvardi News provided by Faruqi & Faruqi, LLP Nov 14, 2025, 10:31 ET Share this article Share to X Share this article Share to X Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Enco ↗
TVRD SHAREHOLDER INVESTIGATION: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Tvardi Therapeutics News provided by Faruqi & Faruqi, LLP Oct 15, 2025, 10:02 ET Share this article Share to X Share this article Share to X Faruqi & Faruqi, LLP Securities Litigation Partner James (Jo ↗
Seeking Alpha
Tvardi Therapeutics, Inc. (TVRD) Discusses TTI-109 Development Program and Data in Ulcerative Colitis - Slideshow ↗
Tvardi Therapeutics, Inc. (TVRD) Discusses TTI-109 Development Program and Data in Ulcerative Colitis Transcript ↗
Tvardi Therapeutics, Inc. (TVRD) Discusses Phase 1 Data on TTI-109 STAT3 Inhibitor Highlighting Prodrug Design, Tolerability and Target Engagement Transcript ↗
Recent filings
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
Regulation FD Disclosure
Items 7.01, 9.01
Other Events
Items 8.01, 9.01
424B5 filing
Show 5 more recent filings
Regulation FD Disclosure
Items 7.01, 9.01
4 filing
4 filing
Submission of Matters to a Vote of Security Holders
Items 5.07
EFFECT filing
Financials
FY 2025 · USDSource
Source
Source
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balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| AssetsUSD | 39,021,000Source | 51,329,000Source | 17,517,000Source | 43,750,000Source | 72,495,000Source | 25,817,000Source | 38,947,000Source | 90,099,000Source | 32,073,000Source | 43,827,000Source | 125,844,000Source | 182,237,000Source |
| Property, Plant and Equipment, NetUSD | 60,000Source | 3,417,000Source | 36,000Source | 68,000Source | 3,490,000Source | 44,000Source | — | 3,548,000Source | 52,000Source | — | 3,322,000Source | 426,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 338,000Source | — | 291,000Source | 354,000Source | — | 306,000Source | — | — | 322,000Source | — | — | — |
| Current assets: | ||||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 21,418,000Source | 37,061,000Source | 15,765,000Source | 20,648,000Source | 49,239,000Source | 19,851,000Source | 34,217,000Source | 46,996,000Source | 20,734,000Source | 37,903,000Source | 51,775,000Source | 63,741,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | — | 435,000Source | — | — | 359,000Source | — | 1,229,000Source | 1,718,000Source | — | 407,000Source | 2,765,000Source | — |
| Inventory, NetUSD | — | 625,000Source | — | — | 1,644,000Source | — | 900,000Source | 2,741,000Source | — | 900,000Source | 2,821,000Source | 2,383,000Source |
| Assets, CurrentUSD | 38,443,000Source | 47,912,000Source | 17,069,000Source | 43,130,000Source | 63,859,000Source | 25,326,000Source | — | 81,225,000Source | 31,538,000Source | 43,827,000Source | 116,158,000Source | 168,910,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 1,983,000Source | — | 1,304,000Source | 2,136,000Source | — | 345,000Source | — | — | 727,000Source | — | — | — |
| Operating Lease, Right-of-Use AssetUSD | 163,000Source | — | 104,000Source | 181,000Source | 3,646,000Source | 124,000Source | 0Source | 3,826,000Source | 144,000Source | — | 4,864,000Source | 1,551,000Source |
| Other Assets, NoncurrentUSD | 17,000Source | — | 17,000Source | 17,000Source | — | 17,000Source | — | — | 17,000Source | — | — | — |
| LIABILITIES AND EQUITY | ||||||||||||
| LiabilitiesUSD | 11,155,000Source | 50,622,000Source | 9,135,000Source | 10,823,000Source | 60,897,000Source | 11,312,000Source | 47,020,000Source | 60,296,000Source | 11,127,000Source | 48,420,000Source | 68,759,000Source | — |
| Stockholders’ equity: | ||||||||||||
| Common Stock, Value, IssuedUSD | 9,000Source | 54,000Source | 9,000Source | 9,000Source | 54,000Source | 9,000Source | 2,000Source | 54,000Source | 9,000Source | 5,000Source | 54,000Source | 53,000Source |
| Additional Paid in CapitalUSD | 131,025,000Source | — | 132,084,000Source | 130,579,000Source | — | 131,749,000Source | — | — | 131,379,000Source | — | — | — |
| Retained Earnings (Accumulated Deficit)USD | -103,175,000Source | -747,933,000Source | -123,711,000Source | -97,648,000Source | -735,457,000Source | -117,254,000Source | -760,518,000Source | -715,441,000Source | -110,450,000Source | -755,612,000Source | -684,745,000Source | -566,232,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 7,000Source | -25,000Source | — | -13,000Source | -121,000Source | 1,000Source | — | -191,000Source | 8,000Source | — | -260,000Source | -1,672,000Source |
| Stockholders' Equity Attributable to ParentUSD | 27,866,000Source | -78,503,000Source | 8,382,000Source | 32,927,000Source | -73,070,000Source | 14,505,000Source | -100,625,000Source | 29,803,000Source | 20,946,000Source | -4,593,000Source | 57,085,000Source | 158,779,000Source |
| Additional Paid in Capital, Common StockUSD | — | 748,611,000Source | — | — | 747,122,000Source | — | 752,443,000Source | 745,381,000Source | — | 751,014,000Source | 742,036,000Source | 726,630,000Source |
| Liabilities and EquityUSD | 39,021,000Source | 51,329,000Source | 17,517,000Source | 43,750,000Source | 72,495,000Source | 25,817,000Source | 38,947,000Source | 90,099,000Source | 32,073,000Source | 43,827,000Source | 125,844,000Source | 182,237,000Source |
| Current liabilities: | ||||||||||||
| Liabilities, CurrentUSD | 11,040,000Source | 10,039,000Source | 9,113,000Source | 10,678,000Source | 13,901,000Source | 11,258,000Source | 1,199,000Source | 15,095,000Source | 11,042,000Source | 3,972,000Source | 25,592,000Source | 23,458,000Source |
| Operating Lease, Liability, CurrentUSD | 113,000Source | 3,417,000Source | 123,000Source | 109,000Source | 168,000Source | 120,000Source | — | 220,000Source | 116,000Source | — | — | 1,918,000Source |
| Accounts Payable, CurrentUSD | 4,078,000Source | 2,541,000Source | 4,638,000Source | 2,425,000Source | 6,755,000Source | 4,620,000Source | 4,000Source | 4,978,000Source | 3,219,000Source | 1,434,000Source | 11,583,000Source | 9,604,000Source |
| Operating Lease, Liability, NoncurrentUSD | 115,000Source | — | 22,000Source | 145,000Source | 7,320,000Source | 54,000Source | — | 6,825,000Source | 85,000Source | — | 6,088,000Source | — |
| Additional Financial Items | ||||||||||||
| Accrued Liabilities, CurrentUSD | 6,849,000Source | — | 4,352,000Source | 8,144,000Source | — | 6,518,000Source | — | — | 7,707,000Source | — | — | — |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | — | 42,036,000Source | — | — | 56,618,000Source | — | — | 69,773,000Source | — | 37,903,000Source | 100,758,000Source | 156,749,000Source |
| Short-term InvestmentsUSD | 15,042,000Source | — | — | 20,346,000Source | — | 5,130,000Source | — | — | 10,077,000Source | — | — | — |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | — | — | — | -6,804,000Source | -9,579,000Source | -18,214,000Source | -70,867,000Source | -118,513,000Source | -85,474,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | — | — | — | 24,000Source | 24,000Source | 95,000Source | 192,000Source | 259,000Source | 248,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | — | — | — | 370,000Source | 80,000Source | 1,399,000Source | 8,929,000Source | 13,730,000Source | 17,734,000Source |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in InventoriesUSD | — | — | — | — | — | — | — | — | — | 1,042,000Source | 438,000Source | -201,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | -5,859,000Source | -7,689,000Source | -23,499,000Source | -60,917,000Source | -92,078,000Source | -78,730,000Source |
| Cash flows from investing activities: | ||||||||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | 4,976,000Source | -10,883,000Source | -10,084,000Source | 48,741,000Source | 43,461,000Source | 128,707,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | — | — | — | — | — | — | — | 1,046,000Source | 2,375,000Source | 43,000Source |
| Cash flows from financing activities: | ||||||||||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | — | -1,603,000Source | 22,703,000Source | -3,604,000Source | 38,151,000Source | 311,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | — | — | -883,000Source | -20,175,000Source | -10,880,000Source | — | — | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | 21,418,000Source | 9,438,000Source | 15,765,000Source | 20,648,000Source | 19,851,000Source | 11,439,000Source | 20,734,000Source | 37,903,000Source | 53,683,000Source | 64,149,000Source |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Income Taxes Paid, NetUSD | — | — | — | — | — | — | — | — | 0Source | — | — | — |
| Additional Financial Items | ||||||||||||
| Share-based Payment Arrangement, ExpenseUSD | — | — | 339,000Source | 80,000Source | 335,000Source | 627,000Source | 370,000Source | 80,000Source | 1,399,000Source | — | — | — |
| Cash, Cash Equivalents, and Short-term InvestmentsUSD | — | — | — | 42,036,000Source | — | — | — | — | — | 37,903,000Source | 100,758,000Source | 156,749,000Source |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously RecordedUSD | — | — | — | — | — | — | — | — | — | 0Source | 0Source | 0Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | — | — | — | — | — | — | — | — | — | 0Source | 0Source | 0Source |
| General and Administrative ExpenseUSD | — | — | 2,335,000Source | 881,000Source | 2,627,000Source | 3,063,000Source | 2,140,000Source | 1,243,000Source | 8,737,000Source | 26,530,000Source | 27,779,000Source | 30,257,000Source |
| Impairment of Intangible Assets (Excluding Goodwill)USD | — | — | — | — | — | — | — | — | 0Source | — | — | — |
| Income Tax Expense (Benefit)USD | — | — | — | 0Source | — | — | — | 0Source | 0Source | -398,000Source | 0Source | 0Source |
| Inventory Write-downUSD | — | — | — | 1,020,000Source | — | — | — | 0Source | — | 2,963,000Source | 526,000Source | 34,000Source |
| Investment Income, InterestUSD | — | — | 300,000Source | 200,000Source | 200,000Source | 100,000Source | — | — | 700,000Source | — | — | — |
| Net Income (Loss) Attributable to ParentUSD | — | — | -5,527,000Source | -5,513,000Source | -6,457,000Source | 4,167,000Source | -6,804,000Source | -9,579,000Source | -18,214,000Source | -70,867,000Source | -118,513,000Source | -85,474,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | -5,527,000Source | -5,513,000Source | -6,457,000Source | 4,167,000Source | -6,804,000Source | -9,579,000Source | -18,214,000Source | — | — | — |
| Operating ExpensesUSD | — | — | 5,938,000Source | 5,676,000Source | 6,629,000Source | 8,869,000Source | 7,051,000Source | 4,354,000Source | 26,748,000Source | 65,520,000Source | 142,463,000Source | 129,402,000Source |
| Other Nonoperating Income (Expense)USD | — | — | — | 766,000Source | — | 12,659,000Source | — | 347,000Source | 7,159,000Source | 2,828,000Source | 3,586,000Source | 2,061,000Source |
| Proceeds from Issuance of Common StockUSD | — | — | — | — | — | — | — | — | — | — | 1,117,000Source | — |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-saleUSD | — | — | — | — | — | — | — | — | — | 82,000,000Source | 155,441,000Source | 220,435,000Source |
| Proceeds from Stock Options ExercisedUSD | — | — | — | — | — | — | — | 3,000Source | 532,000Source | — | 560,000Source | 311,000Source |
| Deferred Income Tax Expense (Benefit) | — | — | —Source | —Source | —Source | —Source | —Source | —Source | — | — | — | — |
| Fair Value, Option, Changes in Fair Value, Gain (Loss) | — | — | — | — | — | — | — | —Source | — | — | — | — |
| Noncash Merger Related Costs | — | — | — | — | — | — | — | —Source | — | — | — | — |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total RevenueUSD | — | — | — | 2,556,000Source | — | — | — | 2,569,000Source | — | 7,137,000Source | 20,968,000Source | 41,867,000Source |
| Operating Income (Loss)USD | — | — | -5,938,000Source | -5,676,000Source | -6,629,000Source | -8,869,000Source | -7,051,000Source | -4,354,000Source | -26,748,000Source | -58,383,000Source | -121,495,000Source | -87,535,000Source |
| Other Nonoperating Income (Expense)USD | — | — | — | 766,000Source | — | 12,659,000Source | — | 347,000Source | 7,159,000Source | 2,828,000Source | 3,586,000Source | 2,061,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | — | — | — | — | — | — | — | — | — | -71,265,000Source | — | -85,474,000Source |
| Income Tax Expense (Benefit)USD | — | — | — | 0Source | — | — | — | 0Source | 0Source | -398,000Source | 0Source | 0Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -5,527,000Source | -5,513,000Source | -6,457,000Source | 4,167,000Source | -6,804,000Source | -9,579,000Source | -18,214,000Source | -70,867,000Source | -118,513,000Source | -85,474,000Source |
| Earnings Per Share, BasicUSD per share | — | — | -0.59Source | -2.14Source | -0.69Source | 0.51Source | -0.73Source | -3.72Source | -2.46Source | -15.53Source | -2.19Source | -1.59Source |
| Earnings Per Share, DilutedUSD per share | — | — | -0.59Source | -2.14Source | -0.69Source | -1Source | -0.73Source | -3.72Source | -3.26Source | -15.53Source | -2.19Source | -1.59Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 9,377,079Source | 2,574,767Source | 9,381,344Source | 8,246,582Source | 9,381,344Source | 2,575,462Source | 7,419,060Source | 4,562,738Source | 54,149,059Source | 53,653,564Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 9,377,079Source | 2,574,767Source | 9,381,344Source | 8,455,223Source | 9,381,344Source | 2,575,462Source | 7,783,182Source | 4,562,738Source | 54,149,059Source | 53,653,564Source |
| Additional Financial Items | ||||||||||||
| Common Stock, Dividends, Per Share, DeclaredUSD per share | — | — | — | — | — | — | 0Source | — | 0Source | — | — | — |
| Current Income Tax Expense (Benefit)USD | — | — | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | — | -398,000Source | — | — |
| General and Administrative ExpenseUSD | — | — | 2,335,000Source | 881,000Source | 2,627,000Source | 3,063,000Source | 2,140,000Source | 1,243,000Source | 8,737,000Source | 26,530,000Source | 27,779,000Source | 30,257,000Source |
| Investment Income, InterestUSD | — | — | 300,000Source | 200,000Source | 200,000Source | 100,000Source | — | — | 700,000Source | — | — | — |
| Investment Income, NetUSD | — | — | 411,000Source | 163,000Source | 172,000Source | 377,000Source | 247,000Source | 275,000Source | 1,375,000Source | — | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | -5,527,000Source | -5,513,000Source | -6,457,000Source | 4,167,000Source | -6,804,000Source | -9,579,000Source | -18,214,000Source | — | — | — |
| Operating ExpensesUSD | — | — | 5,938,000Source | 5,676,000Source | 6,629,000Source | 8,869,000Source | 7,051,000Source | 4,354,000Source | 26,748,000Source | 65,520,000Source | 142,463,000Source | 129,402,000Source |
| Research and Development ExpenseUSD | — | — | 3,603,000Source | 4,795,000Source | 4,002,000Source | 5,806,000Source | 4,911,000Source | 3,111,000Source | 18,011,000Source | 32,805,000Source | 108,510,000Source | 91,879,000Source |
| Fair Value, Option, Changes in Fair Value, Gain (Loss) | — | — | — | — | — | — | — | —Source | — | — | — | — |
| Interest Expense, Debt | — | — | — | — | — | — | — | —Source | — | — | — | — |
Offerings
Registration 333-287675
Registration 333-295496
Registration 333-283900
Filing attachments
tm2623143d1_ex99-1.htm · 8-K · 2026-08-14
EX-99.1 2 tm2623143d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Tvardi Therapeutics Announces Second Quarter 2026 Results and Provides Business Update Reported topline healthy volunteer results for next-generation STAT3 inhibitor TTI-109, confirming the prodrug design, improved tolerability and reductions in disease-relevant immune cell populations Announced ulcerative colitis (UC) as the initial disease indication for TTI-109 and will host a KOL webinar on the clinical potential of TTI-109 …
Read attachment ↗tm2621651d1_ex99-1.htm · 8-K · 2026-07-30
EX-99.1 2 tm2621651d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Tvardi Therapeutics Selects Ulcerative Colitis as Initial Indication for TTI-109 STAT3 acts as a convergent node downstream of multiple signaling pathways implicated in ulcerative colitis (UC), integrating immune dysregulation, inflammation and tissue remodeling More than 70% of patients do not achieve clinical remission with currently approved UC therapies, which target individual upstream pathways; TTI-109 is designed to directl…
Read attachment ↗tm2621651d1_ex99-2.htm · 8-K · 2026-07-30
EX-99.2 3 tm2621651d1_ex99-2.htm EXHIBIT 99.2 Exhibit 99.2 Overview July 2026 This presentation contains forward - looking statements that involve substantial risks and uncertainties. All statements, other th an statements of historical facts, contained in this presentation, including statements about our expectations regarding the potential benefits, activity, effec tiv eness, and safety of our product candidates, our expectations with regard to the design and results of our research and …
Read attachment ↗tm2619879d1_ex99-1.htm · 8-K · 2026-07-07
EX-99.1 2 tm2619879d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Tvardi Therapeutics’ TTI-109 Phase 1 Study Confirms Prodrug Design, Improved Tolerability and Pharmacodynamic Evidence of STAT3 Target Engagement TTI-109 delivered TTI-101-equivalent exposure with improved tolerability and meaningful reductions in disease-relevant STAT3-driven immune cell populations including Th17, T follicular helper (Tfh) and B cells Company plans to advance TTI-109 into STAT3-driven dermatologic and gastrointe…
Read attachment ↗tm2619879d1_ex99-2.htm · 8-K · 2026-07-07
EX-99.2 3 tm2619879d1_ex99-2.htm EXHIBIT 99.2 Exhibit 99.2 Overview July 2026 This presentation contains forward - looking statements that involve substantial risks and uncertainties. All statements, other th an statements of historical facts, contained in this presentation, including statements about our expectations regarding the potential benefits, activity, effec tiv eness, and safety of our product candidates, our expectations with regard to the design and results of our research and …
Read attachment ↗tm2613977d1_ex99-1.htm · 8-K · 2026-05-08
EX-99.1 2 tm2613977d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Tvardi Therapeutics Announces First Quarter 2026 Results and Provides Business Update Topline results from healthy volunteer study and clinical development strategy for next-generation STAT3 inhibitor, TTI-109, anticipated in June Topline data from Phase 2 trial of TTI-101 in hepatocellular carcinoma (HCC) on track for 2H 2026 Cash runway expected to be sufficient to fund operations through clinical readouts and into Q4 2026 HOU…
Read attachment ↗