Tvardi Therapeutics Reports Q3 2026 Financials and Updates Clinical Pipeline

Tvardi Therapeutics, Inc. (NASDAQ: TVRD) reported its financial results and business highlights for the fiscal quarter ended September 30, 2026. The company announced that its research and development expenses for the three months ended September 30, 2026, totaled $4.5 million, an increase from $3.6 million in the same period in 2025. This rise was primarily attributed to higher clinical costs associated with its TTI-101 program. General and administrative expenses for the quarter were $1.9 million, a decrease from $2.3 million in the prior year, driven by lower professional fees.

For the three months ended September 30, 2026, the company reported a net loss of $6.1 million, compared to a net loss of $5.5 million in the prior year. The basic and diluted net loss per share attributable to common stockholders for the quarter were both $(0.48), compared to $(0.59) in the prior year. As of September 30, 2026, cash and cash equivalents stood at $22.3 million, down from $30.8 million as of December 31, 2025. Tvardi anticipates its existing cash and cash equivalents will be sufficient to fund operations, as currently planned, into the third quarter of 2027.

In clinical updates, Tvardi is advancing its TTI-109 program for ulcerative colitis (UC). Building on positive Phase 1 healthy volunteer results reported in July, the company is preparing to advance TTI-109 into clinical development in UC, subject to clearance of its Investigational New Drug (IND) application and the availability of additional funding. The Phase 1 results confirmed the prodrug design, with TTI-109 delivering TTI-101-equivalent exposure with improved tolerability and demonstrating reductions in cellular and humoral immune populations known to correlate with UC disease severity.

The company also provided an update on its TTI-101 program for hepatocellular carcinoma (HCC). The ongoing Phase 1b/2 REVERT LIVER CANCER study is evaluating TTI-101 as monotherapy and in combination with established therapies. Tvardi expects to report topline data from this study in the early first quarter of 2027.