secwatch.observer — SEC 8-K summary
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Issuer:     Tvardi Therapeutics, Inc. (TVRD)
CIK:        0001346830
Form:       8-K
Filed at:   2025-04-15T23:59:59+00:00
Accession:  0001104659-25-035121
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 2.01, 1.01, 5.02, 9.01, 3.03, 5.01, 5.03, 5.05, 5.06, 7.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Cara-Tvardi merger closes, new company renamed Tvardi Therapeutics (TVRD)
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- Merger completed April 15, 2025: Merger Sub merged into Tvardi, which became a wholly owned subsidiary.
- Post-merger ownership: pre-Cara holders ~15.4%, pre-Tvardi holders ~72.0%, Convertible Note holders ~12.5% fully diluted.
- 1-for-3 reverse stock split effected; common stock begins trading as TVRD on Nasdaq on April 16, 2025.
- Asset disposition of difelikefalin to CSL Vifor for $900K; Cara paid CSL Vifor $3M for future expenses.
- Lead candidate TTI-101 in Phase 2 for IPF; unblinded data expected H2 2025; HCC data expected H1 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1346830/000110465925035121/0001104659-25-035121-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1346830/000110465925035121/tm2512159d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-035121

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