---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-030494"
form_type: "8-K"
ticker: "TVRD"
cik: "0001346830"
company_name: "Tvardi Therapeutics, Inc."
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T04:37:25.583169+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cara Therapeutics reports Q4 net loss $0.59/share; prioritizes NP program, cash runway extended to 2026

## Summary
- Net loss Q4 $32.3M ($0.59 per share) vs $30.3M ($0.56) prior year; full year loss $118.5M ($2.19) vs $85.5M ($1.59).
- Total revenue Q4 $3.0M (down from $3.3M); FY 2023 $21.0M (down from $41.9M) on lower KORSUVA injection sales.
- Completed enrollment of KOURAGE 1 Part A (214 patients); topline efficacy/safety data expected Q3 2024.
- KORSUVA injection Q4 net sales $5.0M; TDAPA expires March 31, 2024; future reimbursement under ESRD PPS bundle.
- Cash $100.8M at Dec 31, 2023; cash runway extended to 2026 via clinical prioritization, RIF, and HCR royalty deal ($36.5M net).

## SEC filing metadata
- accession: 0001104659-24-030494
- form_type: 8-K
- ticker: TVRD
- cik: 0001346830
- company_name: Tvardi Therapeutics, Inc.
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1346830/000110465924030494/0001104659-24-030494-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1346830/000110465924030494/tm247839d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-030494
- JSON: https://secwatch.observer/filing/0001104659-24-030494.json
- Plain text: https://secwatch.observer/filing/0001104659-24-030494.txt

## Key facts
- Earnings Releases
  Tvardi Therapeutics, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $3.0 million, net income $32.3 million, EPS $(0.59) per basic and diluted share.
  - Period: the fourth quarter ended December 31, 2023
  - Revenue: $3.0 million
  - Net income: $32.3 million
  - EPS: $(0.59) per basic and diluted share
  - Result: reported results
  source text: For the fourth quarter of 2023, net loss was $32.3 million, or $(0.59) per basic and diluted share, compared to net loss of $30.3 million, or $(0.56) per basic and diluted share, for the same period in 2022. Revenues: Total revenue was $3.0 million and $3.3 million for the three months ended December 31, 2023 and 2022, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1346830/000110465924030494/0001104659-24-030494-index.htm

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