Stockholders' Equity (Deficit) |
12 Months Ended | |||||||||
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Dec. 31, 2025 | ||||||||||
| Stockholders' Equity (Deficit) | ||||||||||
| Stockholders' Equity (Deficit) | 9. Stockholders’ Equity (Deficit) Preferred Stock As of December 31, 2025, the Company had 5,000,000 shares of preferred stock authorized, $0.001 par value, pursuant to its amended and restated certificate of incorporation which was assumed in connection with the Merger Agreement. However, no such shares were issued or as of December 31, 2025. Common Stock As discussed in Note 3, Merger Agreement, the Company completed its Merger with Cara in April 2025. Upon the closing of the Merger, the following shares of common stock were received by Legacy Tvardi shareholders:
Further, after effecting the reverse stock split discussed in Note 3, Merger Agreement, Legacy Cara shareholders received 1,550,381 shares of the Company’s common stock in the aggregate as a result of the Merger. As of December 31, 2025 and as a result of the Merger, the Company’s amended and restated certificate of incorporation authorized the issuance of 150,000,000 shares of $0.001 par value common stock, of which 9,381,344 shares were issued and outstanding. Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the Board of Directors, if any. As of December 31, 2025, no dividends were declared. |