---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-088342"
form_type: "8-K"
ticker: "TVRD"
cik: "0001346830"
company_name: "Tvardi Therapeutics, Inc."
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T03:55:02.557390+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cara Therapeutics Q2 2023 net loss $31.5M; revenue $6.9M down from $23.0M

## Summary
- Net loss of $31.5M ($0.58 per share) vs $4.2M ($0.08 per share) in Q2 2022.
- Total revenue $6.9M, down 70% YoY; Q2 2022 included $15M milestone.
- KORSUVA injection net sales $11.4M; collaborative revenue $5.4M; vial orders up 46% QoQ.
- Cash and marketable securities $101.7M at June 30, 2023, down from $156.7M at Dec 31, 2022.
- CMS proposed ESRD PPS rule includes additional funding for TDAPA products; final rule expected Q4 2023.

## SEC filing metadata
- accession: 0001104659-23-088342
- form_type: 8-K
- ticker: TVRD
- cik: 0001346830
- company_name: Tvardi Therapeutics, Inc.
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1346830/000110465923088342/0001104659-23-088342-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1346830/000110465923088342/tm2322717d3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-088342
- JSON: https://secwatch.observer/filing/0001104659-23-088342.json
- Plain text: https://secwatch.observer/filing/0001104659-23-088342.txt

## Key facts
- Earnings Releases
  Tvardi Therapeutics, Inc. reported the second quarter ended June 30, 2023 results: revenue $6.9 million (total revenue), net income ($31.5 million) net loss, EPS ($0.58) per basic and diluted share.
  - Period: the second quarter ended June 30, 2023
  - Revenue: $6.9 million (total revenue)
  - Net income: ($31.5 million) net loss
  - EPS: ($0.58) per basic and diluted share
  - Result: reported results
  source text: or $(0.58) per basic and diluted share, compared to net loss of $4.2 million, or $(0.08) per basic and diluted share, for the same period in 2022. Revenues: Total revenue was $6.9 million and $23.0 million for the three months ended June 30, 2023 and 2022, respectively. Revenue primarily consisted of: · $5.4 million and $8.0 million of collaborative revenue
  evidence_url: https://www.sec.gov/Archives/edgar/data/1346830/000110465923088342/0001104659-23-088342-index.htm

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