Elizabeth Reed registers sale of 10,000 TVTX shares (TVTX) via option exercise

Rhea-AI Filing Summary

Elizabeth Reed reported the proposed sale of 10,000 shares of Common Stock under Form 144, linked to a stock option exercise dated 04/01/2026. The filing lists multiple earlier dispositions in 2026: 10,000 shares on 03/16/2026 for $280,861.00, 10,000 on 02/17/2026 for $278,317.00, and other smaller sales in February and January.

Insights

Securities Counsel

Form 144 registers an affiliate's planned resale tied to an option exercise.

The filing shows a stock option exercise and a concurrent registration to sell 10,000 shares on 04/01/2026. It documents prior open-market dispositions earlier in 2026 with per-trade proceeds listed.

Cash-flow treatment is the seller's proceeds; the filing lists sale dates and gross proceeds. Subsequent transaction timing and execution method are not specified beyond the exercise and cash form of exercise.

Key Figures

Registered shares to be sold: 10,000 shares Value listed (table line): $300,000.00 Disposition on 03/16/2026: 10,000 shares +2 more

5 metrics

Registered shares to be sold 10,000 shares stock option exercise, 04/01/2026

Value listed (table line) $300,000.00 securities table entry paired with 10,000 shares, 04/01/2026

Disposition on 03/16/2026 10,000 shares sold for $280,861.00 on 03/16/2026

Disposition on 02/17/2026 10,000 shares sold for $278,317.00 on 02/17/2026

Smaller February/January sales 7,175 shares; 2,994 shares; 10,000 shares sales on 02/03/2026, 02/04/2026, and 01/20/2026 with listed proceeds

Key Terms

Form 144, Stock Option Exercise, Securities To Be Sold, Broker-Dealer

4 terms

Form 144 regulatory

"proposed sale of 10,000 shares under Form 144"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Stock Option Exercise financial

"Stock Option Exercise | ISSUER | 10000 | 04/01/2026 | Cash"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

Securities To Be Sold regulatory

"Securities To Be Sold | Common | 04/01/2026"

Broker-Dealer market

"Morgan Stanley Smith Barney LLC Executive Financial Services"

A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	10000	300000.00	92241550	04/01/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	04/01/2026	Stock Option Exercise	ISSUER			10000	04/01/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	03/16/2026	10000	280861.00
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	02/17/2026	10000	278317.00
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	02/04/2026	2994	96360.09
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	02/03/2026	7175	230463.88
ELIZABETH REED 3611 Valley Centre Drive Suite 300 San Diego CA 92130	Common	01/20/2026	10000	273420.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Elizabeth Reed's Form 144 for TVTX report?

It reports the intended sale of 10,000 shares of Common Stock tied to a stock option exercise on 04/01/2026. The filing also lists prior 2026 sales with gross proceeds for each transaction.

How many shares and proceeds are shown for the 04/01/2026 transaction?

The Form 144 lists 10,000 shares related to a stock option exercise with an associated value of $300,000.00. That line pairs the share count and cash amount on the filing's securities table.

Does the filing show other sales by Elizabeth Reed in 2026?

Yes. The filing lists multiple earlier dispositions in 2026, including 10,000 shares on 03/16/2026 for $280,861.00 and 10,000 shares on 02/17/2026 for $278,317.00. Smaller February and January trades are also listed.

Was the 04/01/2026 exercise paid in cash?

Yes. The filing indicates the stock option exercise for 10,000 shares on 04/01/2026 was effected with cash. The securities table shows 'Cash' as the exercise method.

Who is the broker or intermediary named in the filing?

The filing lists Morgan Stanley Smith Barney LLC with an address at 1 New York Plaza. That broker-dealer is named in the securities information section of the Form 144.