Core Insights - Tarsus Pharmaceuticals will present data on the global prevalence and patient burden of Demodex blepharitis, along with the efficacy of XDEMVY at the ASCRS 2025 Annual Meeting [1][2] Group 1: Demodex Blepharitis - Demodex blepharitis is a common eyelid disease caused by Demodex mites, affecting over two-thirds of blepharitis cases and potentially impacting 25 million Americans [7] - The Titan study indicates that 58% of patients visiting U.S. eye care clinics show signs of Demodex mite infestation, with 45 million annual visits to eye care clinics [7] Group 2: XDEMVY (Lotilaner Ophthalmic Solution) - XDEMVY is a novel prescription eye drop designed to treat Demodex blepharitis by targeting the underlying mite infestation [8] - Clinical trials involving over 800 patients demonstrated that XDEMVY met primary and secondary endpoints with statistical significance and no serious treatment-related adverse events [8][9] - The most common side effect reported was stinging and burning in 10% of patients, while other adverse reactions were less than 2% [9][11] Group 3: Upcoming Presentations - The ASCRS meeting will feature several presentations, including: - A longitudinal evaluation of disease burden and treatment efficacy in patients with Demodex blepharitis [3] - A study assessing specific symptoms of Demodex blepharitis [4] - Research on the treatment of Demodex blepharitis in patients with Meibomian gland dysfunction [5] - An observational study on the prevalence of Demodex blepharitis in Japan [6]

Group 1 - Tarsus Pharmaceuticals, Inc. announced the pricing of an upsized underwritten public offering of 2,808,988 shares at a public offering price of $44.50 per share, with expected gross proceeds of approximately $125.0 million before deductions [1] - The offering is expected to close on March 14, 2025, subject to customary closing conditions [1] - Underwriters have a 30-day option to purchase an additional 421,348 shares at the public offering price [1] Group 2 - Goldman Sachs & Co. LLC, BofA Securities, Barclays, and Oppenheimer & Co. are acting as joint book-running managers for the offering [2] - A registration statement for the shares was filed with the U.S. Securities and Exchange Commission (SEC) on February 29, 2024, and became effective upon filing [3] - A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on their website [4] Group 3 - Tarsus Pharmaceuticals focuses on advancing its pipeline to address diseases with high unmet needs, particularly in eye care and infectious disease prevention [6] - The company’s FDA-approved product, XDEMVY, is for the treatment of Demodex blepharitis, and it is also developing TP-04 for Ocular Rosacea and TP-05 for Lyme disease prevention [6]

IRVINE, Calif., March 12, 2025 (GLOBE NEWSWIRE) -- Tarsus Pharmaceuticals, Inc. (Nasdaq: TARS) (the “Company” or “Tarsus”) today announced the commencement of an underwritten public offering of $100.0 million of shares of its common stock. Tarsus also intends to grant the underwriters a 30-day option to purchase up to an additional $15.0 million of shares of its common stock offered in the proposed offering. All shares in the proposed offering are to be sold by Tarsus. The offering is subject to market and ...

IRVINE, Calif., March 06, 2025 (GLOBE NEWSWIRE) -- Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), today announced that management will participate in a fireside chat at the Barclays 27th Annual Global Healthcare Conference on Tuesday, March 11th, at 8:00 a.m. / 11:00 a.m. ET. A live webcast and additional information can be accessed on the events section of the Tarsus website. The replay will be available on the Tarsus website within 48 hours and will be archived for a limited time. About Tarsus Pharmaceutical ...

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Q4 2024 Earnings Conference Call February 25, 2025 8:00 AM ET Company Participants David Nakasone - Head of IR Bobby Azamian - CEO and Chairman Aziz Mottiwala - CCO Seshadri Neervannan - COO Jeff Farrow - CFO and CSO Conference Call Participants Francois Brisebois - Oppenheimer Corey Jubinville - Life Sci Capital Jason Gerberry - Bank of America Oren Livnat - HC Wainright Eddie Hickman - Guggenheim Securities Andrea Newkirk - Goldman Sachs Lachlan Hanbury-Brown - W ...

Fourth Quarter and Full-Year 2024 Financial Results Conference Call February 25, 2025 Matt, an XDEMVY® Patient Today's Speakers Bobby Azamian, MD, PhD CEO & Chairman Jeff Farrow Chief Financial & Strategy Officer Aziz Mottiwala Chief Commercial Officer Sesha Neervannan, PhD Chief Operating Officer 2 | © Tarsus Pharmaceuticals | For Investor Purposes Only Forward-Looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. These statements include statements ...

Financial Performance - XDEMVY generated $66.4 million in net product sales for Q4 2024 and $180.1 million for the full year 2024[521]. - Total revenues for the year ended December 31, 2024, were $182.9 million, a significant increase from $17.4 million in 2023[564]. - The net loss for the year ended December 31, 2024, was $115.6 million, an improvement from a net loss of $135.9 million in 2023[564]. - Total net cash provided by financing activities was $154.7 million for 2024, primarily from $98.3 million in net proceeds from a public offering and $75.0 million from an initial draw against the 2024 Credit Facility[603]. - The company reported a significant increase in accounts receivable, netting $46.760 million in 2024 compared to $16.621 million in 2023, suggesting improved sales performance[630]. - The company’s accumulated deficit increased to $360.210 million in 2024 from $244.656 million in 2023, highlighting ongoing financial challenges[630]. - The net loss for 2024 was $115.554 million, compared to a net loss of $135.893 million in 2023, indicating an improvement in financial performance[632]. Product Sales and Market Performance - Over 58,500 bottles of XDEMVY were dispensed in Q4 2024, totaling 163,000 bottles for the full year 2024[521]. - Product sales, net increased by $165.3 million to $180.1 million for the year ended December 31, 2024, driven by over 163,000 bottles of XDEMVY dispensed compared to 17,400 bottles in the prior year[565]. - XDEMVY was commercially launched in August 2023 following FDA approval in July 2023, contributing to the significant increase in product sales[565]. - Major customers accounted for 61% of gross revenue in 2024, down from 99% in 2023, with Customer A contributing 47% in 2024[677]. - Customer A represented 55% of accounts receivable in 2024, compared to 13% in 2023, indicating increased reliance on this customer[677]. Research and Development - Positive topline results from the Ersa trial showed statistically significant improvements in Meibomian Gland Disease metrics[523]. - The Galatea trial for TP-04 demonstrated statistically significant improvements in inflammatory lesions and Investigator's Global Assessment score[525]. - The Carpo trial for TP-05 showed statistical significance in tick mortality compared to the vehicle (p<0.001)[526]. - The company expects to initiate a Phase 2 study for TP-04 in the second half of 2025 for Ocular Rosacea[525]. - Research and development expenses increased to $53.4 million in 2024 from $50.3 million in 2023, indicating ongoing investment in product development[564]. - Research and development expenses rose to $53.386 million in 2024 from $50.312 million in 2023, reflecting ongoing investment in innovation[632]. Operating Expenses - Operating expenses increased to $303.5 million in 2024 from $160.6 million in 2023, primarily due to higher selling, general and administrative expenses[564]. - Selling, general and administrative expenses rose to $237.3 million in 2024, up from $108.7 million in 2023, reflecting the costs associated with the commercialization of XDEMVY[561]. - Selling, general and administrative expenses increased by $128.6 million to $237.3 million, mainly due to $39.7 million in payroll costs and $52.0 million in commercial and marketing expenses[570]. - Advertising costs were $29.8 million and $9.4 million for the years ended December 31, 2024 and 2023, respectively[706]. Cash and Liquidity - As of December 31, 2024, the company had $291.4 million in cash, cash equivalents, and marketable securities[539]. - Cash and cash equivalents decreased to $94.819 million in 2024 from $224.947 million in 2023, reflecting a reduction in liquidity[630]. - The company reported a net cash used in operating activities of $83.0 million for the year ended December 31, 2024, compared to $117.5 million for 2023, indicating an improvement in operational cash flow[599][600]. - The company’s investing activities resulted in a net cash outflow of $199.2 million for 2024, primarily due to $262.6 million in purchased marketable securities[601]. Future Outlook and Obligations - The company expects to incur significant operating losses as it expands clinical development programs and continues to commercialize XDEMVY[590]. - The company has milestone obligations totaling up to $9.0 million for development milestones and up to $249.0 million for commercial and sales-based milestones[596]. - The company plans to fund operations using existing cash and investments, alongside cash generated from commercial operations[649]. - The company expects to recognize additional license fees and collaboration revenue under the China Out-License based on future milestone achievements[567]. Compliance and Risk Management - The company has served as the auditor since 2020, ensuring compliance with PCAOB standards and maintaining independence in financial reporting[627]. - The company relies on third-party manufacturers for the production of XDEMVY, which poses a risk of disruption if key suppliers are lost[678]. - The company has established guidelines for diversification of investments to mitigate credit risk, with no losses reported to date[674]. - The company has not experienced significant credit risk due to the financial position of its depository institutions[674].

Company Performance - Tarsus Pharmaceuticals reported a quarterly loss of $0.60 per share, better than the Zacks Consensus Estimate of a loss of $0.68, and an improvement from a loss of $1.31 per share a year ago, representing an earnings surprise of 11.76% [1] - The company posted revenues of $66.41 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 12.33%, and significantly up from $13.08 million in the same quarter last year [2] - Over the last four quarters, Tarsus Pharmaceuticals has surpassed consensus EPS estimates four times and topped consensus revenue estimates four times as well [2] Stock Outlook - Tarsus Pharmaceuticals shares have declined approximately 17.8% since the beginning of the year, contrasting with the S&P 500's gain of 1.7% [3] - The company's earnings outlook is currently favorable, with a Zacks Rank of 2 (Buy), indicating expectations for the stock to outperform the market in the near future [6] - The current consensus EPS estimate for the upcoming quarter is -$0.69 on revenues of $62.81 million, and for the current fiscal year, it is -$1.44 on revenues of $316.68 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Tarsus Pharmaceuticals belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - In 2024, Tarsus Pharmaceuticals reported net product sales of over $180 million, with Q4 sales reaching $66.4 million [5][21] - The company dispensed more than 163,000 bottles of Xtendvy throughout the year, with Q4 dispensing exceeding 58,500 bottles [21] - Gross margins were approximately 93%, with total operating expenses around $303.5 million, primarily due to commercial and marketing costs related to the launch of Xtendvy [21][22] Business Line Data and Key Metrics Changes - Xtendvy has seen significant adoption, with over 15,000 eye care physicians now prescribing the product, and the sales force expanded from 100 to 150 representatives [6][12] - The company achieved over 90% commercial and Medicare coverage for Xtendvy, facilitating easier access for patients [12][21] Market Data and Key Metrics Changes - The market for deminex blepharitis (DB) is substantial, with millions of Americans potentially benefiting from Xtendvy [5][6] - The company is also targeting ocular rosacea, which affects approximately 15 to 18 million Americans, indicating a large and underserved market [18] Company Strategy and Development Direction - Tarsus aims to establish itself as a leader in eye care by advancing a robust pipeline of therapeutics, including ocular rosacea and Lyme disease prevention programs [5][10][18] - The company plans to initiate a Phase 2 trial for TP04 (ocular rosacea) later in the year and a Phase 2 study for TPO5 (Lyme disease prevention) in 2026 [10][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2025, driven by expanded sales efforts and a direct-to-consumer advertising campaign [11][21] - The company anticipates that growth will not be linear, with modest growth expected in the first and third quarters and stronger growth in the second and fourth quarters [23] Other Important Information - The direct-to-consumer advertising campaign has been expanded to major network television events, generating positive responses from both eye care physicians and patients [14][15] - The company is preparing for increased operating expenses in 2025 due to ongoing marketing efforts and clinical trials [24] Q&A Session Summary Question: How to motivate prescribers to increase prescribing frequency? - Management highlighted four key drivers: sales force expansion, increased coverage, direct-to-consumer campaigns, and compelling MGD data [30][32] Question: What medical conferences are important for Tarsus? - Key conferences include the Academy of Ophthalmology and the ASCRS conference, which provide platforms to engage with physicians [37] Question: What is the anticipated duration of the DTC campaign? - The campaign aims to educate consumers over time, with ongoing adjustments based on metrics and ROI [98] Question: How does the company view the potential for Lyme disease prevention? - The company sees a clear regulatory path for TPO5 and plans to initiate a Phase 2 study in 2026, with a focus on partnering for larger trials [19][52] Question: What is the expected impact of the DTC campaign on new patient starts? - Management noted a correlation between website engagement metrics and prescription rates, indicating a delayed impact as patients take time to respond [90][92]

Financial Performance - XDEMVY generated net product sales of $66.4 million in Q4 2024 and $180.1 million for the full year, marking a significant increase from $13.1 million and $14.7 million in the respective periods of 2023[3][8][9]. - Product sales for Q4 2024 reached $66.4 million, a significant increase from $13.1 million in Q4 2023, representing a growth of 408%[20]. - Total revenues for the year ended December 31, 2024, were $183.0 million, compared to $17.4 million in 2023, marking a year-over-year increase of 949%[20]. - The net loss for Q4 2024 was $23.1 million, an improvement from a net loss of $41.9 million in Q4 2023, with a basic and diluted net loss per share of $(0.60) compared to $(1.31) in the prior year[8][9]. - The net loss for Q4 2024 was $23.1 million, a decrease from a net loss of $41.9 million in Q4 2023, indicating an improvement of 45%[20]. - The company reported a comprehensive loss of $23.3 million for Q4 2024, compared to a comprehensive loss of $41.9 million in Q4 2023[20]. Expenses - Research and development (R&D) expenses increased to $16.9 million in Q4 2024 from $13.3 million in Q4 2023, driven by higher milestone expenses and program spending[8]. - Research and development expenses for the year were $53.4 million, slightly up from $50.3 million in 2023[20]. - Selling, general and administrative (SG&A) expenses rose to $69.0 million in Q4 2024, up from $43.0 million in Q4 2023, primarily due to increased commercial and market research costs[8][9]. - Selling, general and administrative expenses surged to $237.3 million for the year, compared to $108.7 million in 2023, an increase of 118%[20]. - Operating expenses for Q4 2024 totaled $90.8 million, up from $57.5 million in Q4 2023, reflecting a 58% increase[20]. Market Adoption and Product Development - Over 58,500 bottles of XDEMVY were dispensed in Q4 2024, compared to approximately 15,700 bottles in Q4 2023, reflecting strong market adoption[3][8]. - The gross-to-net discount for XDEMVY was approximately 45% in Q4 2024 and the full year, with broad reimbursement coverage extending to over 90% of covered lives as of February 25, 2025[3][8]. - Tarsus plans to initiate a Phase 2 study for TP-04, an investigational treatment for Ocular Rosacea, in the second half of 2025 following positive FDA feedback[5][6]. - The company is on track for potential European regulatory approval of a preservative-free formulation of XDEMVY in 2027, with market development activities already initiated[5]. - The company activated a Direct-To-Consumer campaign in Q4 2024, with positive initial patient responses, and plans to expand this campaign into network television in 2025[5]. Leadership and Strategic Initiatives - Tarsus has expanded its executive team with the appointment of Elizabeth Yeu, M.D., as Chief Medical Officer, enhancing its leadership in eye care[5]. - The company anticipates continued investment in its business to establish itself as a leader in eye care, with a focus on expanding its product pipeline and market presence[17]. Assets and Cash Position - Cash and cash equivalents decreased to $94.8 million as of December 31, 2024, down from $224.9 million in 2023[22]. - Total assets increased to $377.0 million in 2024, compared to $265.5 million in 2023, representing a growth of 42%[22].