Tvardi Therapeutics, Inc.
For the period ended Apr 1, 2025. Filed Apr 1, 2025.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Apr 1, 2025 · Filed Apr 1, 2025
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EX-99.3 · Pro forma notes:
Pro forma notes:
7(A) Derived from the audited consolidated statement of operations and comprehensive loss of Cara for the year ended December 31, 2024
7(B) Derived from the audited statement of operations of Tvardi for the year ended December 31, 2024
Tvardi did not record any provision or benefit for income taxes during the year ended December 31, 2024 because Tvardi incurred a pre-tax loss in 2024 and maintains a full valuation allowance on its deferred tax assets. Cara incurred a pre-tax loss in 2024 and maintains a full valuation allowance on its deferred tax assets but did record a $0.4 million benefit for income taxes during the year ended December 31, 2024 related to its exchange of its research and development tax credit incurred during the year ended December 31, 2023. The recognition of the $0.4 million tax benefit did not have a material impact to Cara’s effective tax rate or its audited consolidated financial statements for the year ended December 31, 2024. As of December 31, 2024, Cara had no unrecognized tax benefits. Accordingly, no pro forma adjustments have an impact on associated income tax.
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