Tarsus Reports Strong Fourth Quarter and Full-Year 2024 Financial Results and Recent Business Achievements

Core Insights - Tarsus Pharmaceuticals reported significant growth in net product sales for XDEMVY, achieving $66.4 million in the fourth quarter and $180.1 million for the full year 2024, marking a substantial increase from previous periods [1][3][5] - The company presented groundbreaking data indicating that XDEMVY is the first pharmacologic treatment to show functional improvements in Meibomian Gland Disease and symptoms in patients with Demodex blepharitis [1][3] - Tarsus is advancing its pipeline with TP-04 for Ocular Rosacea and TP-05 for Lyme disease prevention, indicating a commitment to addressing unmet needs in eye care and infectious disease [1][3][16] Financial Performance - For Q4 2024, Tarsus reported net product sales of $66.4 million, a significant increase from $13.1 million in Q4 2023, driven by the dispensing of over 58,500 bottles of XDEMVY [3][5][18] - Full-year 2024 net product sales reached $180.1 million, compared to $14.7 million in 2023, with more than 163,000 bottles dispensed [3][5][18] - The company recognized a gross-to-net discount of approximately 45% in both the fourth quarter and full year 2024 [3] Business Highlights - Tarsus established broad utilization of XDEMVY among over 15,000 Eye Care Professionals (ECPs) and expanded its sales force, contributing to increased prescription volumes [3][5] - A Direct-To-Consumer (DTC) campaign launched in Q4 2024 has shown positive initial patient responses, with plans to expand into network television in 2025 [3][5] - The company is on track for potential European regulatory approval of a preservative-free formulation of XDEMVY by 2027 [7] Research and Development - R&D expenses for Q4 2024 were $16.9 million, up from $13.3 million in the same period in 2023, primarily due to increased milestone expenses and program spending [5][15] - Tarsus plans to initiate a Phase 2 study for TP-04 in the second half of 2025, following positive FDA feedback [3][7] - The company is also advancing TP-05, an investigational oral tablet aimed at preventing Lyme disease transmission [3][16] Management and Leadership - Tarsus strengthened its leadership team with the appointment of Elizabeth Yeu, M.D., as Chief Medical Officer and Katherine H. Goodrich, M.D., to the Board of Directors, enhancing its expertise in eye care [7][16] - The company is focused on expanding its development and regulatory capabilities to support its growth in the eye care sector [7][16]