Cara Therapeutics, INC

Market Movers (8-K)

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Tvardi Therapeutics reported second quarter 2026 results, highlighting positive healthy volunteer data for its next-generation STAT3 inhibitor TTI-109 and selecting ulcerative colitis as its initial indication, while also noting a reduced cash position.
Capital raise
Tvardi Therapeutics has chosen ulcerative colitis as the initial indication for its STAT3 inhibitor, TTI-109, following promising Phase 1 study results.
Capital raise
Tvardi Therapeutics announced an increase to its at-the-market offering program, allowing for the issuance of up to an additional $9.69 million in common stock.
Capital raise
Tvardi Therapeutics announced positive Phase 1 results for its next-generation STAT3 inhibitor, TTI-109, demonstrating improved tolerability and pharmacodynamic evidence of STAT3 target engagement.
Capital raise
Tvardi Therapeutics, Inc. announced the results of its Annual Meeting of Stockholders held on June 9, 2026, including the election of directors and ratification of its independent auditor.
Tvardi Therapeutics reported Q1 2026 financial results, highlighting progress in its STAT3 inhibitor programs TTI-109 and TTI-101, with key clinical data expected in June and 2H 2026.

Quarterly Earnings (10-Q)

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Tvardi Therapeutics reported continued operating losses and a substantial accumulated deficit in its Q2 2026 10-Q filing, though it highlighted positive clinical data for its TTI-109 candidate and recent capital raises.
Worse than expected
Capital raise
Tvardi Therapeutics reported a wider net loss for Q1 2026 driven by increased R&D spending, while cash reserves remain a concern.
Worse than expected
Capital raise
Tvardi Therapeutics reports Q3 2025 results, revealing the TTI-101 IPF Phase 2 trial did not meet its goals, alongside ongoing net losses and substantial doubt about its ability to continue as a going concern, despite a recent merger.
Worse than expected
Capital raise
Tvardi Therapeutics, Inc. reported a Q2 2025 net income driven by a non-cash gain, but faces substantial doubt about its ability to continue as a going concern amid increased cash burn and rising public company costs.
Delay expected
Worse than expected
Capital raise
Tvardi Therapeutics, formerly Cara Therapeutics, reports its first quarterly results post-merger, highlighting financial details and strategic shifts.
Capital raise
Better than expected
Cara Therapeutics is exploring strategic alternatives to maximize shareholder value after discontinuing its notalgia paresthetica clinical program due to lack of efficacy.
Worse than expected
Capital raise

Annual Reports (10-K)

Tvardi Therapeutics reported a reduced net loss in 2025 but faces substantial doubt about its ability to continue as a going concern, following a failed IPF trial and delays in its key HCC program.
Delay expected
Worse than expected
Capital raise
Cara Therapeutics is exploring strategic alternatives, including a proposed merger with Tvardi Therapeutics, after discontinuing its clinical program in notalgia paresthetica.
Worse than expected
Cara Therapeutics is focusing its resources on developing oral difelikefalin for neuropathic pruritus associated with notalgia paresthetica (NP) after discontinuing other programs.
Worse than expected
Delay expected
Capital raise

Insider Trading (Form 4)

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Director Susan Shiff was granted 6,000 stock options in Tvardi Therapeutics, Inc. as part of a standard equity compensation arrangement.
Director Sujal Shah was granted 6,000 stock options in Tvardi Therapeutics, Inc. as part of a standard equity compensation plan.
Director Wallace L. Hall Jr. was granted 6,000 stock options in Tvardi Therapeutics, Inc. with an exercise price of $2.78.
Director Michael S. Wyzga was granted 6,000 stock options in Tvardi Therapeutics, Inc. as part of a standard equity compensation arrangement.
Tvardi Therapeutics' Principal Accounting Officer, Stephen Paul O'Brien, was granted 15,000 employee stock options with an exercise price of $3.90, vesting over 48 months.
Tvardi Therapeutics' Chief Financial Officer, Avi Daniel Conn, was granted 45,000 employee stock options with an exercise price of $3.9 per share.

Proxy Statements (Def-14A)

Tvardi Therapeutics, Inc. has issued its proxy statement for the 2026 Annual Meeting of Stockholders, scheduled for June 9, 2026, detailing proposals for director elections, executive compensation, and auditor ratification.
Cara Therapeutics is asking stockholders to vote on key proposals at its upcoming annual meeting, including increasing authorized shares and a potential reverse stock split.
Capital raise
Cara Therapeutics is asking stockholders to approve an increase in authorized shares and a potential reverse stock split at its upcoming annual meeting.
Worse than expected
Capital raise

New Public Companies (S-1)

Tvardi Therapeutics reported its lead candidate TTI-101 failed to meet goals in a Phase 2 IPF trial, while advancing its HCC program and acknowledging substantial future capital needs.
Worse than expected
Capital raise
Delay expected
Tvardi Therapeutics, formed from a reverse merger with Cara Therapeutics, filed an S-1/A for the resale of 2.08 million common shares by existing stockholders, as it advances its STAT3 inhibitor pipeline for fibrosis-driven diseases.
Worse than expected
Capital raise
Delay expected
Tvardi Therapeutics, formerly Cara Therapeutics, has completed its reverse merger, establishing itself as a clinical-stage biopharmaceutical company focused on developing novel oral small molecule therapies targeting STAT3 for fibrosis-driven diseases, including idiopathic pulmonary fibrosis and hepatocellular carcinoma.
Worse than expected
Capital raise
Delay expected

Schedule 13D - Activist Investments

Vifor (International) Ltd. and CSL Limited have reported a reduction in their beneficial ownership of Tvardi Therapeutics, Inc. common stock to 2.2% following a series of reverse stock splits and a merger.

Schedule 13G - Passive Investments

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Ronald A. DePinho has filed an amended Schedule 13G, reporting beneficial ownership of 6.7% of TVARDI THERAPEUTICS, INC.'s common stock as of September 30, 2025.
Slate Path Capital LP and David Greenspan have disclosed a 7.5% passive beneficial ownership stake in Tvardi Therapeutics, Inc., holding 704,118 shares of common stock.
Sporos Bioventures LLC has disclosed a significant 8.95% beneficial ownership stake in Tvardi Therapeutics, Inc. common stock.
Samuel D. Tweardy files an amended Schedule 13G, reporting beneficial ownership of 3.4% of TVARDI THERAPEUTICS, INC. common stock.
Ronald A. DePinho has filed a Schedule 13G, disclosing beneficial ownership of 8.3% of TVARDI THERAPEUTICS, INC.'s common stock.
Samuel D. Tweardy has reported a 10.1% beneficial ownership stake in TVARDI THERAPEUTICS, INC., holding 946,974 shares through various trusts.