MARKETS / NASDAQ / TVRD

NASDAQ · PHARMACEUTICAL PREPARATIONS · SMALL CAP

Tvardi Therapeutics, Inc. TVRD

14 fiscal years on record · USD · FY2025 reported · SEC filings only

Net income

$-18.2M

In brief

What this company does

TTI-101 is our first-generation direct STAT3 inhibitor, currently in Phase 1b/2 clinical development in hepatocellular carcinoma (HCC). We were incorporated under the laws of the State of Delaware in July 2004 under the name “Cara Therapeutics, Inc.” On the Closing Date, Cara completed its previously announced merger with Legacy Tvardi, in accordance with the terms of the Merger Agreement, pursuant to which Merger Sub merged with and into Legacy Tvardi, with Legacy Tvardi surviving the Merger as a wholly owned subsidiary of Cara. Also on the Closing Date, Cara changed its name from “Cara Therapeutics, Inc.” to “Tvardi Therapeutics, Inc.” As of December 31, 2025, we had 12 full-time employees, 8 of whom are involved in research and development activities.

Written from the business description in Tvardi Therapeutics, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 31 March 2026. Every sentence was checked against that document before publication.

Growth

—

Revenue, FY2025 · full 14-year series below

Revenue $M Net income $M

FY2024 · Revenue 7.1 · Net income -29.4

Compound annual growth

Revenue

−32.3%

−18.5%

+8.4%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −18.5% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

—

Operating margin Net margin

FY2024 · Operating -393.8% · Net -411.9%

ROE

FY2023 · ROE -245.1%

Gross margin—

Operating margin—

Net margin—

Return on assets-54.2%

EBITDAUSD -26.7M

Cash & shareholders

—

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2024 · FCF -19.4

Total assetsUSD 32.1M

EquityUSD 20.9M

CashUSD 20.7M

Current ratio2.86×

Equity funds 65% of total assets.

The 14-year record

14 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue $B	·	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating income $B	−0.0	−0.0	−0.1	−0.1	−0.1	0.0	−0.1	−0.1	−0.1	−0.1	−0.0	−0.0	−0.0	−0.0
EBITDA $B	−0.0	−0.0	−0.1	−0.1	−0.1	0.0	−0.1	−0.1	−0.1	−0.1	−0.0	−0.0	0.0	−0.0
Income tax $B	0.0	0.0	0.0	0.0	0.0	−0.0	−0.0	−0.0	−0.0	−0.0	−0.0	−0.0	−0.0	−0.0
Net income $B	−0.0	−0.0	−0.1	−0.1	−0.1	0.0	−0.1	−0.1	−0.1	−0.1	−0.0	−0.0	−0.0	−0.0
Free cash flow $B	·	−0.0	−0.1	−0.1	−0.1	−0.0	−0.1	−0.0	−0.1	−0.0	−0.0	−0.0	0.0	·
EPS, diluted $	−3.26	−11.42	−26.26	−19.12	−1.74	0.18	−2.49	−2.06	−1.86	−2.10	−1.00	−0.85	−0.74	·
Dividend / sh $	0.00	·	·	·	·	·	·	·	·	·	·	·	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	·	·	−245.1	−44.3	−37.1	3.9	−66.4	−67.2	−84.5	−73.5	−31.5	·	·	·
Shares out B	0.01	0.00	0.00	0.05	0.05	0.05	0.05	0.04	0.03	0.03	0.03	0.02	0.00	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 1 failures in 52 reconciliationsAUDITED

Reconciled in 13 of 19 fiscal years. 42 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente1 failures

ActivityPharmaceutical Preparations

Listed onNASDAQ

Incorporated inDelaware

Fiscal year endsDecember 31

SEC categorysmaller reporting company

Data on record since2012