---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-036123"
form_type: "8-K"
ticker: "TVRD"
cik: "0001346830"
company_name: "Tvardi Therapeutics, Inc."
filed_at: "2023-03-23T23:59:59+00:00"
generated_at: "2026-06-17T17:47:58.692176+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Cara Therapeutics provides pipeline update; KORSUVA Q4 net sales $2.3M, cash $157M

## Summary
- KORSUVA injection net sales: $16.8M Q2, $16.2M Q3, $2.3M Q4 2022; profit-share revenue $8.0M/7.4M/1.1M.
- Cash $157M, no debt, 54M shares outstanding; runway into at least 1H 2024.
- Oral difelikefalin programs: NDD-CKD Phase 3 topline 2H2024; AD Phase 3 topline 1H2025; NP Phase 2/3 internal readout 2H2024.
- KORSUVA Japan approval expected 2H2023; Kapruvia EU launched 2H2022 with $72K Q4 royalty.
- TDAPA reimbursement at ASP for min 2 years; positive CMS dialogue on post-TDAPA coverage.

## SEC filing metadata
- accession: 0001104659-23-036123
- form_type: 8-K
- ticker: TVRD
- cik: 0001346830
- company_name: Tvardi Therapeutics, Inc.
- filed_at: 2023-03-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1346830/000110465923036123/0001104659-23-036123-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1346830/000110465923036123/tm2310376d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-036123
- JSON: https://secwatch.observer/filing/0001104659-23-036123.json
- Plain text: https://secwatch.observer/filing/0001104659-23-036123.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.