---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-047844"
form_type: "8-K/A"
ticker: "TVRD"
cik: "0001346830"
company_name: "Tvardi Therapeutics, Inc."
filed_at: "2025-05-13T23:59:59+00:00"
generated_at: "2026-05-21T13:55:35.448660+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Tvardi Q1 2025 net loss $9.6M, cash burn $7.7M; going concern doubt persists

## Summary
- Net loss $9.6M ($0.50 dil EPS) vs $4.2M loss in Q1 2024; accumulated deficit $101.8M.
- Revenue nil; operating expenses $4.35M (R&D $3.1M, G&A $1.2M).
- Cash & equivalents $11.4M, short-term investments $10.9M at March 31; cash used in ops $7.7M.
- Convertible notes $35.8M; other expense $5.5M from fair value change on notes.
- Merger closed April 15, 2025 provided $23.8M cash; substantial doubt about going concern pre-merger.

## SEC filing metadata
- accession: 0001104659-25-047844
- form_type: 8-K/A
- ticker: TVRD
- cik: 0001346830
- company_name: Tvardi Therapeutics, Inc.
- filed_at: 2025-05-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1346830/000110465925047844/0001104659-25-047844-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1346830/000110465925047844/tm2514727d1_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-047844
- JSON: https://secwatch.observer/filing/0001104659-25-047844.json
- Plain text: https://secwatch.observer/filing/0001104659-25-047844.txt

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