secwatch.observer — SEC 8-K summary
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Issuer:     Tvardi Therapeutics, Inc. (TVRD)
CIK:        0001346830
Form:       8-K
Filed at:   2023-03-23T23:59:59+00:00
Accession:  0001104659-23-036123
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1346830/000110465923036123/0001104659-23-036123-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1346830/000110465923036123/tm2310376d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-036123

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer