Overview

• US biopharma firm's Q1 net loss narrowed yr/yr

• R&D and G&A expenses rose due to higher development and personnel costs

• Company expects cash runway to fund operations through clinical readouts and into Q4 2026

Outlook

• Tvardi expects cash runway to fund operations through clinical readouts and into Q4 2026

Result Drivers

• HIGHER R&D SPENDING - Increased research and development expenses were mainly due to higher TTI-109 development costs, partly offset by lower TTI-101 clinical costs

• RISING ADMINISTRATIVE COSTS - General and administrative expenses rose due to higher personnel costs, including stock-based compensation, and professional fees related to being a public company

Company press release: ID:nGNX4pj6kZ

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		-$6.80 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Tvardi Therapeutics Inc is $8.00, about 90% above its May 7 closing price of $4.21

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