Revenue Performance - Fourth quarter 2023 revenues were $13.1 million, driven by XDEMVY net product sales[8] - Total revenues for 2023 were $17.4 million, primarily from XDEMVY sales[9] - Total revenues for Q4 2023 were $13.076 million, compared to $10 million in Q4 2022, representing a 30.76% increase[21] - Product sales for the year ended December 31, 2023, were $14.729 million, while there were no product sales in 2022[21] Expenses - Cost of sales for the fourth quarter was $1.2 million, attributed to manufacturing costs and royalties[8] - Research and development (R&D) expenses increased to $13.3 million in Q4 2023, up from $10.0 million in Q4 2022[8] - Selling, general and administrative (SG&A) expenses rose to $43.0 million in Q4 2023, compared to $14.6 million in the same period last year[8] - Full-year R&D expenses were $50.3 million, an increase from $42.6 million in 2022[9] - SG&A expenses for 2023 totaled $108.7 million, up from $44.9 million in 2022[9] - Research and development expenses increased to $50.312 million for the year ended December 31, 2023, up from $42.624 million in 2022, reflecting a 17.5% rise[21] - Selling, general and administrative expenses surged to $108.700 million in 2023, compared to $44.949 million in 2022, marking a 142.5% increase[21] Net Loss - Net loss for Q4 2023 was $41.9 million, compared to a net loss of $13.6 million in Q4 2022[8] - Net loss for 2023 was $135.9 million, compared to a net loss of $62.1 million in 2022[9] - The net loss for Q4 2023 was $41.902 million, compared to a net loss of $13.599 million in Q4 2022, indicating a significant increase in losses[21] Cash and Assets - Cash and cash equivalents as of December 31, 2023, were $224.947 million, a substantial increase from $71.660 million in 2022[23] - Total assets grew to $265.491 million in 2023, up from $227.863 million in 2022, reflecting a 16.5% increase[23] Liabilities and Deficit - Total liabilities increased to $68.503 million in 2023, compared to $34.963 million in 2022, indicating a 96.5% rise[23] - The accumulated deficit as of December 31, 2023, was $244.656 million, up from $108.763 million in 2022[23] Shares Outstanding - The weighted-average shares outstanding increased to 31,944,237 in Q4 2023 from 26,685,563 in Q4 2022[21]

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Q3 2023 Results Conference Call November 9, 2023 4:30 PM ET Company Participants David Nakasone - Head, IR Bobak Azamian - Chairman, CEO Aziz Mottiwala - CCO Jeff Farrow - CFO, CSO Conference Call Participants Jason Gerberry - Bank of America Eddie Hickman - Guggenheim Securities Oren Livnat - H.C. Wainwright Frank Brisebois - Oppenheimer Operator Good afternoon and welcome to the Tarsus Pharmaceuticals Third Quarter 2023 Financial Results Conference Call. As a rem ...

Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ____ . Commission File Number: 001-39614 TARSUS PHARMACEUTICALS, INC. (Exact name of Registrant as specified in its charter) Delaware 81-4717861 (State or other jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCH ...

Product Development and Clinical Trials - XDEMVY, the first FDA-approved therapeutic for Demodex blepharitis, targets approximately 25 million patients in the U.S. and aims to become the standard of care [148]. - The company completed seven clinical trials for XDEMVY, all of which met their primary and secondary endpoints, demonstrating significant efficacy and safety [150]. - TP-03 for Meibomian Gland Disease is expected to have topline results available in the second half of 2023, while TP-04 for rosacea is expected in the first half of 2024 [153]. - TP-05, a potential Lyme disease prophylactic, has shown positive results in Phase 1 trials and is currently in Phase 2a trials, with topline results expected in the second half of 2023 [155]. Sales and Marketing Efforts - The sales force of 85 personnel is expected to target around 15,000 optometrists and ophthalmologists, covering over 80% of the projected market [154]. - The "Look at the Lids" disease education campaign has generated nearly 300,000 unique website visits and over 3 million digital/media impressions, indicating strong awareness efforts [154]. - The company is actively engaging in contracting discussions to secure commercial coverage for XDEMVY throughout 2024 and Medicare coverage in 2025 [154]. Financial Performance - The net loss for the three months ended June 30, 2023, was $31.4 million, compared to $5.7 million for the same period in 2022, indicating significant operating expenses [161]. - Total operating expenses for the three months ended June 30, 2023, were $32.8 million, an increase of $12.3 million from $20.5 million in the same period in 2022 [170]. - Research and development expenses increased by $2.9 million for the three months ended June 30, 2023, totaling $12.5 million compared to $9.6 million in the prior year [174]. - General and administrative expenses rose by $9.9 million for the three months ended June 30, 2023, reaching $20.3 million, primarily due to increased payroll and market research costs [175]. - For the six months ended June 30, 2023, the company recognized $2.5 million in license fees and collaboration revenue, down from $15.8 million in the same period in 2022, a decrease of $13.3 million [178]. - Total operating expenses for the six months ended June 30, 2023, were $60.3 million, an increase of $19.7 million from $40.6 million in the same period in 2022 [177]. - Research and development expenses for the six months ended June 30, 2023, totaled $24.9 million, an increase of $3.2 million compared to $21.7 million in the prior year [182]. Cash and Capital Management - As of June 30, 2023, the company's aggregate cash, cash equivalents, and marketable securities totaled $178.2 million [166]. - The company completed a Follow-On Public Offering on August 4, 2023, raising approximately $93.6 million from the sale of 5,714,285 shares at an offering price of $17.50 per share [189]. - The company has received $82.5 million in total proceeds from its China Out-License and expects an additional $2.5 million in 2023 for milestone achievements, totaling $85.0 million by December 2023 [190]. - Net cash used in operating activities was $45.8 million for the six months ended June 30, 2023, primarily due to a net loss of $54.8 million [206]. - Net cash provided by investing activities was $75.4 million for the six months ended June 30, 2023, mainly from $105.2 million of proceeds from maturities of investments [208]. - The company anticipates having at least $55.0 million of available capital from its Credit Facility through March 2024 [195]. - The company has approximately $120 million remaining under its Shelf Registration Statement for future capital access [197]. Debt and Liabilities - The company reported $25.0 million of debt principal outstanding as of June 30, 2023, with an interest expense of $0.7 million and $1.4 million for the three and six months ended June 30, 2023, respectively [220]. - The company incurred significant losses and had an accumulated deficit of $163.6 million as of June 30, 2023 [194]. - The company has not engaged in any off-balance sheet arrangements since its inception [215]. Accounting and Regulatory Compliance - The company has opted out of the JOBS Act provision, committing to comply with new or revised accounting standards as they are adopted [217]. - The company will remain an emerging growth company until it meets certain revenue or market value thresholds, including total annual gross revenues of at least $1.235 billion [218]. - There were no material changes to the company's critical accounting policies during the three and six months ended June 30, 2023 [213]. - Recent accounting pronouncements that may impact the company's financial position are disclosed in the accompanying financial statements [214]. Economic Factors - The company does not believe inflation, interest rate changes, or foreign currency exchange rate fluctuations significantly impacted its results of operations for the periods presented [221]. - An immediate 100 basis point change in interest rates would not materially affect the fair market value of the company's cash, cash equivalents, and marketable securities due to their low-risk profile [219]. - The company has not recorded any liabilities for indemnification rights and agreements as of June 30, 2023, as their fair value is considered minimal [216].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ____ . Commission File Number: 001-39614 TARSUS PHARMACEUTICALS, INC. (Exact name of Registrant as specified in its charter) Delaware 81-47178 ...

TP-03 Vehicle 20 23 © Tarsus Pharmaceuticals Active Disease Education Building Purposeful Momentum Toward Launch Early and frequent disease education, market awareness & engagement activities to prepare market confident diagnosis 1 st all optometrist field medical team • ECPs excited about compelling value proposition and the opportunity to potentially provide a solution to patients and expand/optimize their practice • Positive initial payer feedback from top commercial and Medicare accounts may enable acce ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-396147 TARSUS PHARMACEUTICALS, INC. (Exact name of Registrant as specified in its charter) Delaware 81-4717861 (State or other j ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ____ . Commission File Number: 001-39614 TARSUS PHARMACEUTICALS, INC. (Exact name of Registrant as specified in its charter) Delaware 81-4 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ____ . Commission File Number: 001-39614 TARSUS PHARMACEUTICALS, INC. (Exact name of Registrant as specified in its charter) Delaware 81-4717861 ( ...

Tarsus Corporate Presentation May 2022 © Tarsus Pharmaceuticals 2022 Legal Disclaimer This presentation contains forward-looking statements that involve risks and uncertainties. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations about future events that we believe may affect our financial condition, results of operations, business strategy, and financial needs. All statements other than statements of historical fa ...