secwatch.observer — SEC 8-K summary
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Issuer:     Tvardi Therapeutics, Inc. (TVRD)
CIK:        0001346830
Form:       8-K
Filed at:   2026-03-31T23:59:59+00:00
Accession:  0001104659-26-037724
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1346830/000110465926037724/0001104659-26-037724-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1346830/000110465926037724/tm2610603d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-037724

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