Tvardi Therapeutics expands at-the-market stock sale program by up to $9.7 million
Tvardi Therapeutics filed a prospectus supplement on July 17, 2026, raising its at-the-market share sale capacity under its JonesTrading sales agreement by up to $9,689,765. The filing says the company is subject to the SEC's baby shelf rule, which caps sales based on non-affiliate market value, and that no further shares will be sold under the prior prospectus after the supplement date. For shareholders, the expansion signals potential dilution from additional share issuance.
Key points
- On July 17, 2026, the company filed a prospectus supplement allowing issuance of up to $9,689,765 in shares, in addition to amounts previously sold.
- Baby shelf limits apply: non-affiliate market value is $62,208,945, based on 12,441,789 shares at $5.00 on July 8, 2026.
- In the prior twelve months, the company sold 3,110,769 shares for about $11.0 million in gross proceeds under the sales agreement.
- The Sales Agreement with JonesTrading Institutional Services LLC was entered into on May 1, 2026; Cooley LLP's legal opinion is filed as Exhibit 5.1.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 17, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.