Quick Answer
Tvardi Therapeutics, Inc. reported R&D Expense of $18.01 million for fiscal year 2025.
Tvardi Therapeutics, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $18.01M | -23.8% |
| 2024 | $23.65M | -78.2% |
| 2023 | $108.51M | +18.1% |
| 2022 | $91.88M | +11.1% |
| 2021 | $82.70M | -23.3% |
| 2020 | $107.85M | -5.2% |
| 2019 | $113.82M | +50.7% |
| 2018 | $75.53M | +55.7% |
| 2017 | $48.52M | -1.5% |
| 2016 | $49.25M | +132.1% |
| 2015 | $21.22M | +40.8% |
| 2014 | $15.07M | +73.5% |
| 2013 | $8.69M | +88.9% |
| 2012 | $4.60M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $3.60M | -24.9% | -37.9% |
| June 30, 2025 | $5.81M | -11.1% | +1720.1% |
| March 31, 2025 | $319.0K | -98.5% | -93.3% |
| September 30, 2024 | $4.79M | -81.2% | -26.6% |
| June 30, 2024 | $6.53M | -78.5% | -70.3% |
| March 31, 2024 | $21.96M | -9.7% | -13.7% |
| September 30, 2023 | $25.45M | +3.1% | -16.0% |
| June 30, 2023 | $30.31M | +52.3% | +24.6% |
- Tvardi Therapeutics, Inc. showed a decrease of -23.8% in R&D Expense compared to the prior fiscal year.
- Over the 2012–2025 period, Tvardi Therapeutics, Inc.’s r&d expense has grown by 291.8% (from $4.60 million to $18.01 million).
- The most recent figure is from Tvardi Therapeutics, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 31, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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