Study of TVB-2640 in Subjects With Non-Alcoholic Steatohepatitis (NASH)

Inclusion Criteria: 1. Aged ≥ 18 years with a body mass index (BMI) ≤40 kg/m2. 2. Prior liver biopsy within 24 months of randomization with fibrosis Stage 1 to 3 and a non-alcoholic fatty liver disease (NAFLD) activity score (NAS) of ≥ 4 with at least a score of 1 in each of the following NAS components: * Steatosis * Ballooning degeneration * Lobular inflammation AND * Confirmation of ≥ 8% liver fat content on MRI-PDFF. OR, if prior biopsy is not available: * Either overweight or obese or diabetic or ALT ≥ 30 U/L or fatty liver on ultrasound and at least one more feature of metabolic syndrome by Adult Treatment Panel III (ATP III) criteria. AND * Magnetic resonance elastography (MRE) ≥ 2.5 kPa and MRI-PDFF ≥ 8% during screening. Exclusion Criteria: Subjects meeting any of the following criteria are not eligible for enrollment in the study. 1. History of significant alcohol consumption for a period of more than 3 consecutive months within 1 year prior to screening. Note: Significant alcohol consumption is defined as average of \> 20 g/day in female subjects and \> 30 g/day in male subjects. 2. Type 1 diabetes. 3. Uncontrolled Type 2 diabetes defined as: * HbA1c ≥ 9.5% during screening. (Subjects with HbA1c ≥ 9.5% may be rescreened). * Basal insulin dose adjustment \> 10% within 60 days prior to enrollment. * Requirement for glucagon-like peptide analogue or a complex oral anti-diabetic (OAD) regimen (3 or more OADs) within 6 months of screening. * History of severe hypoglycemia (symptomatic hypoglycemia requiring outside assistance to regain normal neurologic status) within the previous year. Note: Individual diabetes regimens will be reviewed by Investigator and may be adjusted based on American Diabetes Association guidelines. 4. Presence of cirrhosis on liver biopsy (Stage 4 fibrosis) or imaging.