---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-117212"
form_type: "8-K"
ticker: "TVRD"
cik: "0001346830"
company_name: "Tvardi Therapeutics, Inc."
filed_at: "2023-11-13T23:59:59+00:00"
generated_at: "2026-06-08T04:42:32.543646+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cara Therapeutics Q3 2023 net loss $28M; cash runway extended into 2025 via $40M royalty financing

## Summary
- Q3 total revenue $4.9M, down from $10.8M YoY; net loss $0.52/share vs $0.43/share YoY.
- Cash $83.3M at Sep 30, 2023; entered $40M royalty financing with HealthCare Royalty to extend runway into 2025.
- KORSUVA injection net sales $4.4M; vial orders up 36% QoQ; CMS confirmed TDAPA period until Mar 31, 2024.
- Topline data from KIND 1 Phase 3 atopic dermatitis expected Dec 2023; KICK Phase 3 results in 2H24.

## SEC filing metadata
- accession: 0001104659-23-117212
- form_type: 8-K
- ticker: TVRD
- cik: 0001346830
- company_name: Tvardi Therapeutics, Inc.
- filed_at: 2023-11-13T23:59:59+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/1346830/000110465923117212/0001104659-23-117212-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1346830/000110465923117212/tm2330513d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-117212
- JSON: https://secwatch.observer/filing/0001104659-23-117212.json
- Plain text: https://secwatch.observer/filing/0001104659-23-117212.txt

## Key facts
- Earnings Releases
  Tvardi Therapeutics, Inc. reported third quarter ended September 30, 2023 results: revenue $4.9 million, net income $28.0 million, or $(0.52) per basic and diluted share, EPS $(0.52) per basic and diluted share.
  - Period: third quarter ended September 30, 2023
  - Revenue: $4.9 million
  - Net income: $28.0 million, or $(0.52) per basic and diluted share
  - EPS: $(0.52) per basic and diluted share
  - Result: reported results
  source text: For the third quarter of 2023, net loss was $28.0 million, or $(0.52) per basic and diluted share, compared to net loss of $23.2 million, or $(0.43) per basic and diluted share, for the same period in 2022. Revenues: Total revenue was $4.9 million and $10.8 million for the three months ended September 30, 2023 and 2022, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1346830/000110465923117212/0001104659-23-117212-index.htm

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