Tvardi Therapeutics, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | — | $7.1M | $21.0M | $41.9M | $23.0M |
| Operating income | -$26.7M | -$28.1M | -$121.5M | -$87.5M | -$89.1M |
| Operating expenses | $26.7M | $28.1M | $142.5M | $129.4M | $112.1M |
| Cost of revenue | — | — | — | — | $0 |
| Cash from operations | -$23.5M | -$18.3M | -$92.1M | -$78.7M | -$60.1M |
| Capital expenditure | — | $1.0M | $2.4M | $43,000 | $39,000 |
| Free cash flow | — | -$19.4M | -$94.5M | -$78.8M | -$60.1M |
| Impairments | $0 | $0 | $0 | $0 | — |
| Total assets | $32.1M | $35.2M | $125.8M | $182.2M | $247.1M |
| Total liabilities | $11.1M | $40.8M | $68.8M | $23.5M | — |
Shares outstanding 9.4M
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.