Tvardi Therapeutics, Inc.
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 31, 2026
TVRD$1.410.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the Year Ended | ||||||
| · · December 31, | ||||||
| · · 2025 · · 2024 | ||||||
| Cash flows from operating activities: · · · · · | ||||||
| Net loss | | $(18,214) | | $(29,397) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | ||
| Depreciation and amortization expense | | 95 | | 95 | ||
| Stock-based compensation expense | | 1,399 | | 319 | ||
| Change in fair value of Convertible Notes | | (7,810) | | 1,807 | ||
| Non-cash lease expense | | 72 | | 76 | ||
| Accretion of net discounts on short-term investments | | (200) | | — | ||
| Interest accrued on Convertible Notes | | 651 | | 154 | ||
| Changes in operating assets and liabilities: | | | | | ||
| Prepaid expenses and other assets | | (308) | | 3,167 | ||
| Accounts payable and accrued expenses | | 919 | | 5,567 | ||
| Operating lease liabilities | | (103) | | (93) | ||
| Net cash used in operating activities | | (23,499) | | (18,305) | ||
| Cash flows from investing activities: | | | | | ||
| Purchases of short-term investments | | | (31,486) | | | — |
| Maturities of short-term investments | | 21,402 | | — | ||
| Net cash used in investing activities | | (10,084) | | — | ||
| Cash flows from financing activities: | | | | | ||
| Cash acquired in connection with the Merger | | 24,992 | | — | ||
| Payments for Merger transaction costs | | (2,821) | | (1,303) | ||
| Proceeds from Convertible Notes | | | — | | | 28,298 |
| Proceeds from exercise of stock options | | 532 | | 5 | ||
| Net cash provided by financing activities | | 22,703 | | 27,000 | ||
| Net (decrease) increase in cash and cash equivalents | | (10,880) | | 8,695 | ||
| Cash and cash equivalents - beginning of year | | 31,614 | | 22,919 | ||
| Cash and cash equivalents - end of year | | $20,734 | | $31,614 | ||
| | | | | | | |
| Non-cash investing and financing activities | | | | | ||
| Merger transaction costs included in accounts payable and accrued expenses | | $— | | $1,508 | ||
| Conversion of redeemable convertible preferred stock to common stock | | $85,503 | | $— | ||
| Conversion of Convertible Notes to common stock | | $23,100 | | $— | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.