<p>康涅狄格州斯坦福德，2025 年 4 月 14 日（环球新闻通讯社）——Cara Therapeutics, Inc.（“公司”）今天宣布，其董事会（“董事会”）已批准将其已发行普通股进行 1 比 3 的反向股票拆分。</p>
<p>Cara 的普通股预计将在 2025 年 4 月 16 日星期三市场开盘时以反向股票拆分调整后的基础开始交易，新的公司名称为 “Tvardi Therapeutics, Inc.”，新的股票代码为 “TVRD”，此举是在与 Tvard Therapeutics, Inc.（“Tvardi”）合并（“合并”）预计完成后进行的，新的 CUSIP 号码为 140755 307。</p>
<p>反向股票拆分已获得 Cara 股东在 2025 年 4 月 1 日举行的特别股东会议上的批准，董事会有权决定拆分比例不低于 1 比 2 且不超过 1 比 4。最终的反向股票拆分比例 1 比 3 已于 2025 年 4 月 1 日获得董事会批准，并将于 2025 年 4 月 15 日下午 4:01（东部时间）生效。</p>
<p>在反向股票拆分生效时，每三（3）股已发行和流通的公司普通股将自动合并为一（1）股已发行和流通的公司普通股，且每股面值不变。反向股票拆分将使公司已发行和流通的普通股数量从约 460 万股减少到约 150 万股（在合并完成之前）。反向股票拆分不会改变 Cara 普通股的授权股数。</p>
<p>在反向股票拆分中不会发行零碎股份。原本有权获得零碎股份的股东将有权获得现金支付。反向股票拆分将对所有股东产生统一影响，不会改变任何股东在公司股权证券中的相对权益，除非是针对零碎股份的调整。</p>
<p>此外，将对公司已发行股票期权的基础股份数量及其行使或转换价格，以及公司股权激励计划下可发行的普通股数量进行相应的比例调整。</p>
<p>在合并完成后，合并公司的总流通普通股预计将约为 940 万股。</p>
<p><strong>关于 Tvardi Therapeutics, Inc.</strong></p>
<p>Tvardi 是一家私营的临床阶段生物制药公司，专注于开发针对 STAT3 的新型口服小分子疗法，以治疗具有重大未满足需求的纤维化驱动疾病。STAT3 是驱动不受控制的沉积、增殖、生存和免疫抑制的关键纤维化信号通路的中心介导因子。STAT3 还位于许多信号通路的交汇处，这些信号通路对癌细胞的生存和免疫逃逸至关重要。该公司正在进行针对具有高未满足需求的纤维化驱动疾病的二期临床试验：特发性肺纤维化（NCT05671835）和肝细胞癌（NCT05440708）。</p>
<p><strong>关于 Cara Therapeutics</strong></p>
<p>Cara 是一家生物制药公司，专注于引领新的治疗范式，以改善患有慢性瘙痒症患者的生活。Cara 开发了一种静脉注射配方的 difelikefalin，该药物已在美国、欧盟及多个其他国家获得批准，用于治疗接受透析的成人中度至重度瘙痒症，特别是与晚期慢性肾病相关的瘙痒症。该静脉注射配方已在全球范围内获得许可。</p>
<p><strong>前瞻性声明</strong></p>
<p>本新闻稿中关于非历史事实事项的某些陈述是根据 1995 年《私人证券诉讼改革法》定义的 “前瞻性陈述”。这些前瞻性陈述的例子包括关于拟议合并的预期完成及其影响，以及各方在预期时间表上或根本上完成合并的能力；反向股票拆分及其时机；反向股票拆分对股东的影响，包括可能因处理零碎股份而导致的任何调整，以及期权持有者；反向股票拆分和合并后预期发行和流通的普通股数量，以及其他关于管理层意图、计划、信念、期望或未来预测的陈述，因此，您被提醒不要过度依赖这些陈述。由于这些陈述受到风险和不确定性的影响，实际结果可能与这些前瞻性陈述所表达或暗示的结果有重大差异。这些风险和不确定性包括与合并相关的风险，包括合并的完成及满足（或放弃）交割条件的风险；可能导致合并协议终止的任何事件、变化或其他情况或条件的发生；公司实际支出减少与预期成本减少的比较；公司作为上市公司继续运营的成本；以及在 Cara Therapeutics 向证券交易委员会提交的文件中更全面描述的其他风险，包括公司截至 2024 年 12 月 31 日的年度报告中 “风险因素” 部分及其随后提交或提供给证券交易委员会的其他文件中描述的风险。本新闻稿中包含的所有前瞻性陈述仅在作出时有效。除法律要求外，公司没有义务更新这些陈述，以反映作出时之后发生的事件或存在的情况。</p>
<p><strong>投资者联系：</strong></p>
<p>investor@caratherapeutics.com</p>

CARA

TVRD

<p>Cara Therapeutics 宣布将其普通股进行 1 比 3 的反向拆股，以配合其与 Tvardi Therapeutics 的拟议合并。反向拆股将于 2025 年 4 月 15 日生效，届时流通股数量将从约 460 万股减少至约 150 万股。合并后，合并公司将拥有约 940 万股流通股。新公司将以 Tvardi Therapeutics, Inc. 的名称运营，股票代码为 "TVRD"</p>

<p>STAMFORD, Conn., April 14, 2025 (GLOBE NEWSWIRE) — Cara Therapeutics, Inc.  (the “Company”), today announced that its Board of Directors (the “Board”) has approved a 1-for-3 reverse stock split of its outstanding shares of common stock.</p>
<div class="lb-trans"><p>康涅狄格州斯坦福德，2025 年 4 月 14 日（环球新闻通讯社）——Cara Therapeutics, Inc.（“公司”）今天宣布，其董事会（“董事会”）已批准将其已发行普通股进行 1 比 3 的反向股票拆分。</p>
</div><p>Cara’s common stock is expected to begin trading on a reverse stock split-adjusted basis at the opening of the market on Wednesday, April 16, 2025 under the new name “Tvardi Therapeutics, Inc.” and under the new symbol “TVRD” following the anticipated closing of the merger (the “Merger”) with Tvard Therapeutics, Inc. (“Tvardi”), with a new CUSIP number 140755 307.</p>
<div class="lb-trans"><p>Cara 的普通股预计将在 2025 年 4 月 16 日星期三市场开盘时以反向股票拆分调整后的基础开始交易，新的公司名称为 “Tvardi Therapeutics, Inc.”，新的股票代码为 “TVRD”，此举是在与 Tvard Therapeutics, Inc.（“Tvardi”）合并（“合并”）预计完成后进行的，新的 CUSIP 号码为 140755 307。</p>
</div><p>The reverse stock split was approved by Cara’s stockholders at Cara’s special meeting of stockholders held on April 1, 2025, to be effected in the Board’s discretion of not less than 1-for-2 and not more than 1-for-4. The final reverse stock split ratio of 1-for-3 was approved by the Board on April 1, 2025 and will become effective as of 4:01 p.m. Eastern Time on Tuesday, April 15, 2025.</p>
<div class="lb-trans"><p>反向股票拆分已获得 Cara 股东在 2025 年 4 月 1 日举行的特别股东会议上的批准，董事会有权决定拆分比例不低于 1 比 2 且不超过 1 比 4。最终的反向股票拆分比例 1 比 3 已于 2025 年 4 月 1 日获得董事会批准，并将于 2025 年 4 月 15 日下午 4:01（东部时间）生效。</p>
</div><p>At the effective time of the reverse stock split, every three (3) issued and outstanding shares of the Company’s common stock will automatically be combined into one (1) issued and outstanding share of the Company’s common stock without any change in the par value per share. The reverse stock split will reduce the number of issued and outstanding shares of the Company’s common stock from approximately 4.6 million to approximately 1.5 million (prior to giving effect to the closing of the Merger). The reverse stock split will not change the authorized number of shares of Cara’s common stock.</p>
<div class="lb-trans"><p>在反向股票拆分生效时，每三（3）股已发行和流通的公司普通股将自动合并为一（1）股已发行和流通的公司普通股，且每股面值不变。反向股票拆分将使公司已发行和流通的普通股数量从约 460 万股减少到约 150 万股（在合并完成之前）。反向股票拆分不会改变 Cara 普通股的授权股数。</p>
</div><p>Fractional shares will not be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share will be entitled to receive a cash payment. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s relative interest in the Company’s equity securities, except for any adjustments for fractional shares.</p>
<div class="lb-trans"><p>在反向股票拆分中不会发行零碎股份。原本有权获得零碎股份的股东将有权获得现金支付。反向股票拆分将对所有股东产生统一影响，不会改变任何股东在公司股权证券中的相对权益，除非是针对零碎股份的调整。</p>
</div><p>In addition, proportionate adjustments will be made to the number of shares underlying, and the exercise or conversion prices of, the Company’s outstanding stock options, and to the number of shares of common stock issuable under the Company's equity incentive plans.</p>
<div class="lb-trans"><p>此外，将对公司已发行股票期权的基础股份数量及其行使或转换价格，以及公司股权激励计划下可发行的普通股数量进行相应的比例调整。</p>
</div><p>Following the closing of the Merger, the combined company's total outstanding common stock is expected to be approximately 9.4 million shares.</p>
<div class="lb-trans"><p>在合并完成后，合并公司的总流通普通股预计将约为 940 万股。</p>
</div><p><strong>About Tvardi Therapeutics, Inc.</strong></p>
<div class="lb-trans"><p><strong>关于 Tvardi Therapeutics, Inc.</strong></p>
</div><p>Tvardi is a privately held, clinical-stage, biopharmaceutical company focused on the development of novel, oral small molecule therapies targeting STAT3 to treat fibrosis-driven diseases with significant unmet need. STAT3 is a central mediator across critical fibrotic signaling pathways that drive uncontrolled deposition, proliferation, survival and immune suppression. 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 Phase 2 clinical trials in fibrosis-driven diseases with high unmet need: idiopathic pulmonary fibrosis (NCT05671835) and hepatocellular carcinoma (NCT05440708).</p>
<div class="lb-trans"><p>Tvardi 是一家私营的临床阶段生物制药公司，专注于开发针对 STAT3 的新型口服小分子疗法，以治疗具有重大未满足需求的纤维化驱动疾病。STAT3 是驱动不受控制的沉积、增殖、生存和免疫抑制的关键纤维化信号通路的中心介导因子。STAT3 还位于许多信号通路的交汇处，这些信号通路对癌细胞的生存和免疫逃逸至关重要。该公司正在进行针对具有高未满足需求的纤维化驱动疾病的二期临床试验：特发性肺纤维化（NCT05671835）和肝细胞癌（NCT05440708）。</p>
</div><p><strong>About Cara Therapeutics</strong></p>
<div class="lb-trans"><p><strong>关于 Cara Therapeutics</strong></p>
</div><p>Cara is a biopharmaceutical company that has been focused on leading a new treatment paradigm to improve the lives of patients suffering from chronic pruritus. Cara developed an IV formulation of difelikefalin, which is approved for the treatment of moderate-to-severe pruritus associated with advanced kidney disease in adults undergoing hemodialysis in the United States, European Union, and multiple other countries for the treatment of moderate-to-severe pruritus associated with advanced chronic kidney disease in adults undergoing hemodialysis. The IV formulation is out-licensed worldwide.</p>
<div class="lb-trans"><p>Cara 是一家生物制药公司，专注于引领新的治疗范式，以改善患有慢性瘙痒症患者的生活。Cara 开发了一种静脉注射配方的 difelikefalin，该药物已在美国、欧盟及多个其他国家获得批准，用于治疗接受透析的成人中度至重度瘙痒症，特别是与晚期慢性肾病相关的瘙痒症。该静脉注射配方已在全球范围内获得许可。</p>
</div><p><strong>Forward-looking Statements</strong></p>
<div class="lb-trans"><p><strong>前瞻性声明</strong></p>
</div><p>Certain 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 regarding the anticipated completion and effects of the proposed Merger and the ability of the parties to consummate the Merger on the expected timeline or at all; the reverse stock split and the timing thereof; the impact of the reverse stock split on stockholders, including any adjustments that may result from the treatment of fractional shares, and option holders; the expected number of shares of common stock to be issued and outstanding following the reverse stock split and the Merger, 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 risks and uncertainties include risks related to the Merger, including the completion of the Merger and the satisfaction (or waiver) of closing conditions; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement; the Company’s actual reductions in spending as compared to anticipated cost reductions; the Company’s costs of continuing to operate as a public company; and the other risks described more fully in Cara Therapeutics’ filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and its other documents subsequently filed with or furnished to the Securities and Exchange Commission. 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 reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.</p>
<div class="lb-trans"><p>本新闻稿中关于非历史事实事项的某些陈述是根据 1995 年《私人证券诉讼改革法》定义的 “前瞻性陈述”。这些前瞻性陈述的例子包括关于拟议合并的预期完成及其影响，以及各方在预期时间表上或根本上完成合并的能力；反向股票拆分及其时机；反向股票拆分对股东的影响，包括可能因处理零碎股份而导致的任何调整，以及期权持有者；反向股票拆分和合并后预期发行和流通的普通股数量，以及其他关于管理层意图、计划、信念、期望或未来预测的陈述，因此，您被提醒不要过度依赖这些陈述。由于这些陈述受到风险和不确定性的影响，实际结果可能与这些前瞻性陈述所表达或暗示的结果有重大差异。这些风险和不确定性包括与合并相关的风险，包括合并的完成及满足（或放弃）交割条件的风险；可能导致合并协议终止的任何事件、变化或其他情况或条件的发生；公司实际支出减少与预期成本减少的比较；公司作为上市公司继续运营的成本；以及在 Cara Therapeutics 向证券交易委员会提交的文件中更全面描述的其他风险，包括公司截至 2024 年 12 月 31 日的年度报告中 “风险因素” 部分及其随后提交或提供给证券交易委员会的其他文件中描述的风险。本新闻稿中包含的所有前瞻性陈述仅在作出时有效。除法律要求外，公司没有义务更新这些陈述，以反映作出时之后发生的事件或存在的情况。</p>
</div><p><strong>INVESTOR CONTACT:</strong></p>
<div class="lb-trans"><p><strong>投资者联系：</strong></p>
</div><p>investor@caratherapeutics.com</p>
<div class="lb-trans"><p>investor@caratherapeutics.com</p>
</div>

Cara Therapeutics 宣布将进行 1 比 3 的反向股票拆分，以配合与 Tvardi Therapeutics 的拟议合并