Tvardi Therapeutics, Inc. reported a material weakness in internal control
Internal control reported effective→Material weakness in internal control
If these third parties do not successfully carry out their contractual duties, meet expected deadlines or comply with regulatory requirements, we may not be able to obtain regulatory approval of or commercialize any potential product candidates. ● Legacy Tvardi identified material weaknesses in its internal control over financial reporting. If we fail to remediate these material weaknesses, or if we experience additional material weaknesses in the future or otherwise fail to maintain effective internal control…
Evidence
Current state
material_weakness
Current state label
Material weakness in internal control
Direction
newly reported
Prior filed
2025-03-11
Prior form
10-K
Prior state
effective
Prior state label
Internal control reported effective
Remediation stated
Yes
Severity
high
Source
Item 9A internal control conclusion, compared with the prior filing
Why
The company's conclusion on internal control over financial reporting changed: a material weakness was newly reported, or a previously reported one no longer appears.
Tvardi Therapeutics, Inc. disclosed substantial doubt about its ability to continue as a going concern in its first report following a change of registrant
The prior filing was made by a different business under the same CIK, so this is a new disclosure rather than a change.
Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has suffered recurring losses from operations and does not have sufficient cash on hand or available liquidity to fund operations, which raises substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.…
Evidence
Blank check
No
Caveat
The prior filing was made by a different business under the same CIK, so this is a new disclosure rather than a change.
Comparable
No
Current state
substantial_doubt
Current state label
Substantial doubt about ability to continue as a going concern
Direction
not comparable
Located in
going-concern note
Prior filed
2025-03-11
Prior form
10-K
Registrant changed from
Cara Therapeutics, Inc.
Source
ASC 205-40 going-concern note comparison
Why
Disclosure about the company's ability to continue as a going concern changed compared with its previous report.