Tvardi Therapeutics Announces First Quarter

Tvardi Therapeutics Announces First Quarter

2026 Results and Provides Business Update

Topline results from healthy volunteer study

and clinical development strategy for next-generation STAT3 inhibitor, TTI-109, anticipated in June

Topline data from Phase 2 trial of TTI-101

in hepatocellular carcinoma (HCC) on track for 2H 2026

Cash runway expected to be sufficient to fund

operations through clinical readouts and into Q4 2026

HOUSTON, TX - May 8,

2026 - Tvardi Therapeutics, Inc. ("Tvardi") (NASDAQ: TVRD), a clinical-stage biopharmaceutical company focused on

the development of novel, oral, small molecule therapies targeting STAT3 to treat inflammatory and proliferative diseases, today reported

its financial and operating results for the first quarter ended March 31, 2026, and provided a business update.

Recent Progress and Upcoming Catalysts:

Imran Alibhai, Ph.D., Chief Executive Officer of Tvardi, stated, "We

are approaching a key inflection point with topline data from our next-generation STAT3 inhibitor, TTI-109, expected in June. These results

are expected to inform our future clinical development strategy."

"TTI-109 is designed to build on the preclinical and clinical

activity observed with TTI-101 while potentially offering improved tolerability through its prodrug profile and enabling broader development

across inflammatory and proliferative diseases driven by STAT3."

"In parallel, we remain on track to report topline data from

our ongoing Phase 2 REVERT LIVER CANCER trial in the second half of this year. Prior interim findings demonstrated clinically meaningful

activity across treatment settings, and we look forward to evaluating the full dataset."

"We continue to make significant progress advancing both programs,

providing line of sight to two near-term value inflection points," Dr. Alibhai concluded.

Key Upcoming Milestones:

First Quarter 2026 Financial Results

Research and development expenses for the three months ended

March 31, 2026, were $4.9 million as compared to $3.1 million for the comparable period in 2025. The increase was primarily driven

by higher TTI-109 developmental costs, partly offset by declining clinical costs associated with TTI-101.

General and administrative expenses were $2.1 million for the

three months ended March 31, 2026, as compared to $1.2 million for the three months ended March 31, 2025. The increase was

primarily driven by higher personnel costs, including stock-based compensation, and professional fees, including costs associated with

being a publicly traded company.

Net loss for the three months ended March 31, 2026, was

$6.8 million, as compared to a net loss of $9.6 million for the comparable period in 2025.

Basic and diluted net loss per share attributable to common

shareholders for the three months ended March 31, 2026, were a net loss of $(0.73), compared to a net loss of $(3.72) for the comparable

Cash, cash equivalents and short-term investments as of March 31,

2026, were $25.0 million, as compared to $30.8 million as of December 31, 2025. Tvardi anticipates that its current cash runway

is sufficient to fund operations, as currently planned, through clinical readouts and into the fourth quarter of 2026.

About Tvardi Therapeutics

Tvardi is a clinical-stage biopharmaceutical company focused on the

development of novel, oral small molecule therapies targeting STAT3 to treat inflammatory and proliferative diseases with significant

unmet need. STAT3 is a central mediator across critical signaling pathways that drive uncontrolled, proliferation, survival and immune

dysregulation. STAT3 is also positioned at the intersection of many signaling pathways integral to the survival and immune evasion of

cancer cells. The company is conducting clinical trials with TTI-109 in healthy volunteers and TTI-101 in hepatocellular carcinoma (NCT05440708).

Cautionary Statement Regarding Forward-looking Statements

Statements contained in this press release regarding matters that

are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform

Act of 1995. Examples of these forward-looking statements include statements concerning the anticipated benefits of Tvardi's

product candidates; its ongoing clinical trials and anticipated timing of reporting data from such trials; potential indications for

its product candidates; its anticipated cash runway; and other statements regarding management's intentions, plans, beliefs, expectations

or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them.

Because such statements are subject to risks and uncertainties, actual

results may differ materially from those expressed or implied by such forward-looking statements. These forward- looking statements are

subject to a number of risks, including, among other things: the uncertainties associated with Tvardi's product candidates, as

well as risks associated with the clinical development and regulatory approval of product candidates, including potential delays in the

completion of clinical trials; the significant net losses Tvardi has incurred since inception; Tvardi's ability to initiate

and complete ongoing and planned preclinical studies and clinical trials and advance its product candidates through clinical development;

the timing of the availability of data from Tvardi's clinical trials; the outcome of preclinical testing and clinical trials of

the Tvardi's product candidates, including the ability of those trials to satisfy relevant governmental or regulatory requirements;

Tvardi's plans to research, develop and commercialize its current and future product candidates; the clinical utility, potential

benefits and market acceptance of Tvardi's product candidates; the requirement for additional capital to continue to advance

these product candidates, which may not be available on favorable terms or at all; Tvardi's anticipated cash runway; Tvardi's

ability to attract, hire, and retain skilled executive officers and employees; Tvardi's ability to protect its intellectual property

and proprietary technologies; Tvardi's reliance on third parties, contract manufacturers, and contract research organizations;

the possibility that Tvardi may be adversely affected by other economic, business, or competitive factors; risks associated with changes

in applicable laws or regulations; those factors discussed in Tvardi's filings with the Securities and Exchange Commission,

including the "Risk Factors" section of the Annual Report on Form 10-K for the year ended December 31, 2025, and

Tvardi's other documents subsequently filed with or furnished to the SEC, all of which are available on the SEC's website

at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they

were made. The company undertakes no obligation to update such statements to re ect events that occur or circumstances that exist

after the date on which they were made, except as required by law.

Tvardi Investor Relations

Consolidated Balance Sheets

Consolidated Statement