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Earnings Releases·

Tvardi Therapeutics — Third Quarter 2026 Earnings Summary

  • Q3 2026 net loss widened to $6.1 million from $5.5 million in Q3 2025, driven by a 25% increase in R&D expenses to $4.5 million for TTI-101 clinical costs, while G&A expenses fell to $1.9 million; Q1–Q3 2026 net loss reached $19.4 million versus $10.9 million in the prior year period.
  • Cash and cash equivalents declined to $22.3 million as of September 30, 2026, from $30.8 million at year-end 2025, with short-term investments dropping to $0, though management confirms existing funds are sufficient to sustain operations through Q3 2027.
  • TTI-109 development in ulcerative colitis is advancing toward 2027 clinical trials pending IND clearance and additional funding, while top-line data from the Phase 1b/2 REVERT LIVER CANCER study for TTI-101 is expected in early Q1 2027.
  • Shares outstanding increased to 13.3 million from 9.4 million in December 2025, and the accumulated deficit grew to $(129.8) million from $(110.5) million, reflecting continued capital requirements for pipeline progression.
Company
TVARDI THERAPEUTICS INC
Sector
Healthcare
Industry
Biotechnology