NASDAQ
27 days, 10 hours ago 
TARS
Tarsus Pharmaceuticals, INC
8-K: Tarsus Pharmaceuticals Reports Strong Q1 2025 Results Driven by XDEMVY Sales
Tarsus Pharmaceuticals announces a successful first quarter in 2025, highlighted by a 217% year-over-year increase in XDEMVY net product sales and a strengthened financial position following a public equity offering.
Better than expected
 
NASDAQ
27 days, 14 hours ago 
TARS
Tarsus Pharmaceuticals, INC
10-Q: Tarsus Pharmaceuticals Reports Strong Q1 2025 Revenue Growth, Driven by XDEMVY Sales
Tarsus Pharmaceuticals' Q1 2025 revenue surged, fueled by a significant increase in XDEMVY sales, alongside strategic financial moves to bolster its market position.
Delay expected
 
Better than expected
 
NASDAQ
30 days, 10 hours ago 
TARS
Tarsus Pharmaceuticals, INC
DEFA14A: Tarsus Pharmaceuticals Sets Date for 2025 Annual Stockholders Meeting
Tarsus Pharmaceuticals will hold its annual stockholders meeting on June 12, 2025, to elect directors, vote on executive compensation, and ratify the appointment of Ernst & Young LLP as its independent accounting firm.
NASDAQ
30 days, 14 hours ago 
TARS
Tarsus Pharmaceuticals, INC
DEF: Tarsus Pharmaceuticals Sets Date for 2025 Annual Stockholders Meeting
Tarsus Pharmaceuticals will hold its 2025 Annual Meeting of Stockholders virtually on June 12, 2025, to vote on director elections, executive compensation, and auditor ratification.
NASDAQ
63 days, 13 hours ago 
TARS
Tarsus Pharmaceuticals, INC
Form 4: Tarsus Pharmaceuticals CEO Bobak Azamian Sells 6,000 Shares
Bobak Azamian, President/CEO and Board Chair of Tarsus Pharmaceuticals, sold 6,000 shares of common stock at $50 per share on March 24, 2025, according to a Form 4 filing.
NASDAQ
69 days, 8 hours ago 
TARS
Tarsus Pharmaceuticals, INC
Form 4: Tarsus Pharmaceuticals Executive Sells Shares to Cover Tax Obligations
Aziz Mottiwala, Chief Commercial Officer of Tarsus Pharmaceuticals, sold shares of common stock to cover tax withholding obligations related to the vesting of Restricted Stock Units.
NASDAQ
69 days, 8 hours ago 
TARS
Tarsus Pharmaceuticals, INC
Form 4: Tarsus Pharmaceuticals COO Seshadri Neervannan Sells Shares to Cover Tax Obligations
Seshadri Neervannan, COO of Tarsus Pharmaceuticals, sold shares of common stock to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units.
NASDAQ
69 days, 8 hours ago 
TARS
Tarsus Pharmaceuticals, INC
Form 4: Tarsus Pharmaceuticals' General Counsel Sells Shares to Cover Tax Obligations
Bryan Wahl, General Counsel of Tarsus Pharmaceuticals, sold shares of common stock to cover tax withholding obligations related to the vesting of Restricted Stock Units.
NASDAQ
69 days, 8 hours ago 
TARS
Tarsus Pharmaceuticals, INC
Form 4: Tarsus Pharmaceuticals Executive Dianne C. Whitfield Sells Shares to Cover Tax Obligations
Dianne C. Whitfield, Chief Human Resources Officer of Tarsus Pharmaceuticals, sold shares of common stock between March 18 and March 20, 2025, to cover tax withholding obligations related to the vesting of Restricted Stock Units.
NASDAQ
69 days, 8 hours ago 
TARS
Tarsus Pharmaceuticals, INC
Form 4: Tarsus Pharmaceuticals CEO Bobak Azamian Sells Shares to Cover Tax Obligations
Tarsus Pharmaceuticals' CEO, Bobak R. Azamian, sold shares of common stock to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units.
TARS 
Tarsus Pharmaceuticals, INC 
NASDAQ

10-Q: Tarsus Pharmaceuticals Reports Strong Q1 2025 Revenue Growth, Driven by XDEMVY Sales

Sentiment:
 Quarterly Report (10-Q)
 1 May 2025 4:10 PM

Tarsus Pharmaceuticals' Q1 2025 revenue surged, fueled by a significant increase in XDEMVY sales, alongside strategic financial moves to bolster its market position.

Delay expected
  The Carpo trial, evaluating TP-05, experienced patient enrollment delays. 

Better than expected
  Revenue was significantly higher than the same quarter last year.  The company has a strong cash position.  The company is making progress on its clinical pipeline. 

Summary
  • Tarsus Pharmaceuticals reported net product sales of $78.3 million for Q1 2025, a 217% increase compared to Q1 2024.
  • The company dispensed approximately 72,000 bottles of XDEMVY to patients during the quarter, a 23% increase from Q4 2024.
  • Tarsus's gross-to-net discount for XDEMVY was approximately 47% in Q1 2025.
  • The company completed an upsized public equity offering, raising $134.8 million to fund the launch of XDEMVY and ongoing pipeline investment.
  • Tarsus is progressing with clinical trials for TP-04 (Ocular Rosacea) and TP-05 (Lyme disease prophylaxis), with plans to initiate a Phase 2 study for Ocular Rosacea in the second half of 2025.
  • The company estimates its existing capital resources will be sufficient to meet projected operating expense requirements and other liquidity needs for at least 12 months.
  • Tarsus reported a net loss of $25.1 million for Q1 2025, compared to a net loss of $35.7 million for Q1 2024.
Sentiment

Score: 7

Explanation: The document presents a generally positive outlook, driven by strong revenue growth and successful fundraising. However, ongoing net losses and reliance on a single product temper the overall sentiment.

Positives
  • Significant revenue growth driven by XDEMVY sales.
  • Increased prescription depth among eye care professionals.
  • Successful completion of a public equity offering, bolstering financial resources.
  • Advancement of clinical programs for TP-04 and TP-05.
  • Broad reimbursement coverage for XDEMVY.
Negatives
  • The company continues to incur net losses, with a $25.1 million loss reported for Q1 2025.
  • The gross-to-net discount for XDEMVY was approximately 47% in Q1 2025.
Risks
  • The company's future success is heavily dependent on the commercialization of XDEMVY and the development of its product candidates.
  • Clinical trials may be delayed or fail to meet safety or efficacy endpoints.
  • The company relies on third parties for manufacturing and clinical trials, which could lead to supply or quality issues.
  • The company may face competition from existing treatments and new entrants in the market.
  • The company may be subject to product liability claims or regulatory actions.
  • The company may be unable to obtain or maintain sufficient intellectual property protection.
Future Outlook

The company plans to continue commercializing XDEMVY, advance clinical development of TP-04 and TP-05, and explore opportunities for European regulatory approval and expansion into Japan.

Management Comments
  • XDEMVY is on track to potentially be one of the fastest growing and best-selling anterior segment medicines.
  • The company will continue to fund the launch of XDEMVY and ongoing pipeline investment.
Industry Context

Tarsus Pharmaceuticals is operating in a competitive biopharmaceutical industry, focusing on eye care and infectious disease prevention. The company's success depends on its ability to differentiate its products and compete effectively with existing treatments and new entrants in the market.

Comparison to Industry Standards
  • The document does not contain enough information to make a detailed comparison to industry standards.
  • A comparison would require specific benchmarks for revenue growth, profitability, and clinical trial success rates within the biopharmaceutical industry, particularly for companies focused on ophthalmology.
  • Comparable companies in the ophthalmology space include Alcon, Bausch Health Companies, and Novartis (through its Alcon division).
  • However, a direct comparison would need to consider the specific stage of development and product portfolio of each company.
Stakeholder Impact
  • Shareholders: Positive impact due to revenue growth and successful fundraising, but potential dilution from equity offerings.
  • Employees: Positive impact due to company growth and expansion, but potential for increased workload and pressure to meet targets.
  • Customers (ECPs and patients): Positive impact due to increased availability and awareness of XDEMVY.
  • Suppliers: Positive impact due to increased demand for raw materials and manufacturing services.
  • Creditors: Positive impact due to the company's strong financial position and ability to meet debt obligations.
Next Steps
  • Continue commercialization of XDEMVY.
  • Advance clinical development of TP-04 for Ocular Rosacea and TP-05 for Lyme disease prophylaxis.
  • Explore opportunities for European regulatory approval of XDEMVY.
  • Meet with Japanese regulatory authorities to determine a regulatory path forward for XDEMVY in Japan.
Related Party Transactions
  • In April 2024, the Company participated in an equity funding round of an early clinical-stage private eye care company.
  • Drs. Azamian (the Company's CEO) and Link (a director of the Company) are board members of this private company.
  • The Company owns a small minority of this private company.
Key Dates
  • 2016-11-01: Tarsus Pharmaceuticals, Inc. was incorporated as a Delaware corporation.
  • 2019-01-01: Tarsus executed a license agreement with Elanco for exclusive worldwide rights to certain intellectual property for the development and commercialization of lotilaner in the treatment or cure of any eye or skin disease or condition in humans.
  • 2020-09-01: Tarsus executed a license agreement with Elanco granting it a worldwide license to certain intellectual property for the development and commercialization of lotilaner for the treatment, palliation, prevention, or cure of all other diseases and conditions in humans.
  • 2023-07-01: XDEMVY received FDA approval for the treatment of Demodex blepharitis in the U.S.
  • 2023-08-01: Tarsus launched XDEMVY for commercial sale.
  • 2023-11-21: The Company filed a shelf registration statement on Form S-3 that was declared effective by the SEC.
  • 2024-02-01: Tarsus announced positive topline results from the Galatea trial, a Phase 2a trial evaluating TP-04, a novel gel formulation of lotilaner, for the treatment of rosacea.
  • 2024-03-01: Tarsus completed an underwritten follow-on public offering under the 2024 Shelf Registration Statement.
  • 2024-04-01: Tarsus executed a loan and security agreement with Pharmakon with maturity in April 2029.
  • 2024-10-01: Tarsus executed a new in-license agreement from a third party for the exclusive worldwide rights to develop, manufacture, and commercialize a compound for all ophthalmic uses.
  • 2024-12-01: Tarsus met with the FDA about our Lyme disease program.
  • 2024-12-01: Tarsus entered into a new lease agreement for 59,626 square feet of office space located in Irvine, California for a 10-year lease term.
  • 2025-01-01: Tarsus announced plans to initiate a Phase 2 study in the second half of 2025 for the potential treatment of Ocular Rosacea.
  • 2025-03-01: Tarsus completed an underwritten follow-on public offering under the 2024 Shelf Registration Statement.
  • 2025-03-31: End of the quarterly period.
  • 2025-04-24: As of this date, the number of outstanding shares of the registrant's common stock was 42,014,237.
  • 2025-05-01: Date of report.
Keywords
XDEMVY, Demodex blepharitis, Ocular Rosacea, Lyme disease, TP-03, TP-04, TP-05, Revenue, Clinical trials, Pharmaceuticals, FDA, Commercialization
TARS 
Tarsus Pharmaceuticals, INC 
NASDAQ
Sector: TBD
 
Filings with Classifications
Better than expected
1 May 2025 8:07 PM
Earnings Release
  • XDEMVY sales significantly exceeded expectations, demonstrating strong market adoption.
  • The company's net loss decreased compared to the same period last year, indicating improved financial performance.
Better than expected
1 May 2025 4:10 PM
Quarterly Report (10-Q)
  • Revenue was significantly higher than the same quarter last year.
  • The company has a strong cash position.
  • The company is making progress on its clinical pipeline.
Delay expected
1 May 2025 4:10 PM
Quarterly Report (10-Q)
  • The Carpo trial, evaluating TP-05, experienced patient enrollment delays.
Capital raise
18 March 2025 4:01 PM
Current Report
  • Tarsus Pharmaceuticals completed a public offering of 2,808,988 shares of common stock at $44.50 per share.
  • The underwriters exercised their option to purchase an additional 421,348 shares at $41.83 per share.
  • The company received net proceeds of approximately $134.8 million from the offering.
Capital raise
13 March 2025 4:40 PM
Capital Raising Announcement
  • Tarsus Pharmaceuticals is raising capital through a public offering of common stock.
  • The company expects to receive approximately $117.1 million in net proceeds from the offering.
  • The underwriters have an option to purchase additional shares, which could increase the total capital raised.
Better than expected
25 February 2025 7:07 AM
Earnings Release
  • The company's net loss decreased from $135.9 million in 2023 to $115.6 million in 2024.
  • Product sales increased significantly compared to the previous year.
Better than expected
13 January 2025 8:30 AM
Corporate Presentation
  • XDEMVY sales and adoption are exceeding expectations, positioning it as a potential blockbuster.
  • The company is making significant progress in expanding coverage and market reach.
Delay expected
13 November 2024 4:12 PM
Quarterly Report
  • The company experienced delays related to its Carpo trial with topline results pushed out to February 2024 as a result of patient enrollment delays.
Better than expected
13 November 2024 4:12 PM
Quarterly Report
  • The company's product sales significantly exceeded expectations, indicating strong market adoption of XDEMVY.
  • The company's net loss was lower than the same period last year, indicating improved financial performance.
Capital raise
13 November 2024 4:12 PM
Quarterly Report
  • The company may require additional capital to fully develop its product candidates and execute its business strategy.
  • The company's future capital requirements will depend on various factors, including the success of commercialization efforts and the cost of clinical trials.
  • The company may raise additional funds through equity offerings, debt financings, collaborations, strategic alliances, or licensing arrangements.
Better than expected
13 November 2024 4:06 PM
Quarterly Report
  • The company's product sales significantly exceeded the previous year's results.
  • The net loss has decreased compared to the same period last year.
  • The company has secured broad payer coverage, exceeding expectations.
Better than expected
8 August 2024 4:13 PM
Quarterly Report
  • The company's revenue growth in Q2 2024 was better than expected, driven by strong XDEMVY sales.
  • The improvement in gross-to-net discounts was better than expected, indicating better pricing and reimbursement strategies.
Capital raise
8 August 2024 4:13 PM
Quarterly Report
  • The company may be required to raise additional capital to fund its ongoing operations.
  • The company plans to fund its operations, capital funding and other liquidity needs using existing cash and investments and, to the extent available, cash generated from commercial operations.
Better than expected
8 August 2024 4:07 PM
Quarterly Report
  • The company's XDEMVY sales increased by 65% quarter-over-quarter, indicating better than expected market adoption.
  • The gross-to-net discount improved to 44%, which is better than the previous quarter's 55%.
Delay expected
8 May 2024 4:12 PM
Quarterly Report
  • The company experienced delays related to its Carpo trial with topline results pushed out to February 2024 as a result of patient enrollment delays.
Capital raise
8 May 2024 4:12 PM
Quarterly Report
  • The company completed a follow-on public offering in March 2024, raising net proceeds of $107.7 million.
  • The company may be required to raise additional capital to fund its ongoing operations.
Better than expected
8 May 2024 4:12 PM
Quarterly Report
  • The company's revenue from product sales of XDEMVY significantly exceeded expectations for the first quarter of commercialization.
  • The number of bottles of XDEMVY delivered to patients and the number of eye care providers prescribing the treatment both showed substantial growth.
Better than expected
8 May 2024 4:09 PM
Quarterly Report
  • The company's net product sales of XDEMVY increased by 89% compared to the previous quarter, indicating better than expected market adoption.
  • The company delivered 26,000 bottles of XDEMVY to patients, a 65% increase over the previous quarter, showing better than expected demand.
  • The company secured multiple commercial payer contracts and is on track for broad commercial coverage by the end of 2024, indicating better than expected progress in market access.
Capital raise
8 May 2024 4:09 PM
Quarterly Report
  • Tarsus completed an approximately $108 million public equity offering in March 2024.
  • The company secured a $200 million non-dilutive credit facility in April 2024, drawing $75 million at close.
Capital raise
5 March 2024 4:09 PM
Capital Raise Announcement
  • Tarsus Pharmaceuticals raised approximately $107.8 million through a public offering of common stock and pre-funded warrants.
  • The offering included the sale of 3,281,250 shares of common stock and pre-funded warrants to purchase 312,500 shares.
  • The underwriters exercised their option to purchase an additional 468,750 shares.
Capital raise
1 March 2024 5:26 PM
Capital Raise Announcement
  • Tarsus Pharmaceuticals is conducting a public offering of 2,812,500 shares of common stock at $32.00 per share.
  • The company is also offering pre-funded warrants to purchase 312,500 shares at $31.9999 per warrant.
  • The underwriters have a 30-day option to purchase an additional 468,750 shares.
  • The gross proceeds from the offering are expected to be approximately $100 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
  • The net proceeds to the Company from the Offering are expected to be approximately $93.7 million, after deducting underwriting discounts and commissions and estimated Offering expenses payable by the Company, assuming no exercise by the Underwriters of their option to purchase additional shares of common stock.
Delay expected
27 February 2024 4:02 PM
Annual Results
  • The company experienced delays in patient enrollment in the Carpo trial, pushing out topline results to February 2024.
Worse than expected
27 February 2024 4:02 PM
Annual Results
  • The company's net loss increased significantly from $62.1 million in 2022 to $135.9 million in 2023, indicating worse than expected financial performance.
Capital raise
27 February 2024 4:02 PM
Annual Results
  • The company states that it may need to obtain substantial additional funding to achieve its goals.
  • The company has a Credit Facility with Hercules and SVB, but may need to raise additional capital through equity offerings, debt financings, collaborations, strategic alliances, or licensing arrangements.
Better than expected
26 February 2024 9:18 PM
Annual Results
  • The company exceeded expectations with the rapid uptake of XDEMVY and strong initial sales, indicating a successful product launch.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.