Tvardi's stock fell 84.18% to $6.58 after trial update. Phase 2 REVERT trial did not meet efficacy goals. Discontinuation rates higher for TTI-101 in IPF patients. FVC improvement similar between placebo and treatment arms. Company has $41 million to fund operations through 2026.
Tvardi completed its merger with Cara Therapeutics in April. The company’s lead drug, TTI-101, is in Phase 2 for IPF. Piper Sandler initiated coverage, rating TVRD as overweight with $78 target. TVRD is well-funded, expected to last into the second half of 2026. TTI-109, a next-gen drug, is also under development for STAT3.