---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-037724"
form_type: "8-K"
ticker: "TVRD"
cik: "0001346830"
company_name: "Tvardi Therapeutics, Inc."
filed_at: "2026-03-31T23:59:59+00:00"
generated_at: "2026-05-15T08:07:43.442310+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Tvardi reports 2025 net loss $18.2M; cash to fund into Q4 2026; key clinical milestones ahead

## Summary
- Net loss for 2025 was $18.2M ($2.46 basic EPS); cash $30.8M expected to fund operations into Q4 2026.
- R&D expenses decreased to $18.0M in 2025 from $23.7M in 2024, driven by lower TTI-101 clinical costs.
- Phase 2 IPF trial of TTI-101 showed 9.4% fibrosis reduction vs 2.4% placebo; IL-6 declined 4.5-fold.
- Topline data from TTI-109 healthy volunteer study expected Q2 2026; TTI-101 HCC Phase 2 data in H2 2026.
- G&A expenses rose to $8.7M in 2025 from $4.5M in 2024 due to merger-related professional fees.

## SEC filing metadata
- accession: 0001104659-26-037724
- form_type: 8-K
- ticker: TVRD
- cik: 0001346830
- company_name: Tvardi Therapeutics, Inc.
- filed_at: 2026-03-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1346830/000110465926037724/0001104659-26-037724-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1346830/000110465926037724/tm2610603d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-037724
- JSON: https://secwatch.observer/filing/0001104659-26-037724.json
- Plain text: https://secwatch.observer/filing/0001104659-26-037724.txt

## Key facts
- Earnings Releases
  Tvardi Therapeutics, Inc. reported the fourth quarter and full-year ended December 31, 2025 results: net income Net loss for the three months ended December 31, 2025, was $7.3 million...For the full year 2025, net loss was $18.2 mil, EPS Basic and diluted net loss per share...for the three months ended December 31, 2025, were a net loss of $(0.78) on a bas.
  - Period: the fourth quarter and full-year ended December 31, 2025
  - Net income: Net loss for the three months ended December 31, 2025, was $7.3 million...For the full year 2025, net loss was $18.2 mil
  - EPS: Basic and diluted net loss per share...for the three months ended December 31, 2025, were a net loss of $(0.78) on a bas
  - Result: reported results
  source text: On March 31, 2026, Tvardi Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results and business highlights for the fiscal quarter and year ended December 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1346830/000110465926037724/0001104659-26-037724-index.htm

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