Summary of Tarsus Conference Call Company Overview - **Company**: Tarsus - **Product**: XtendV, launched in September 2023 - **Market Focus**: Demodex blepharitis, ocular rosacea, Lyme disease Key Points Product Launch and Market Penetration - XtendV has experienced strong demand and revenue growth since its launch, with over 90% payer coverage including Medicare and commercial plans [2][3] - The company targets an initial segment of 9 million patients out of an estimated 25 million in the U.S. suffering from Demodex blepharitis [9][10] - The initial target includes patients with endemic blepharitis and meibomian gland dysfunction (MGD) [10] Clinical Efficacy and Safety - Over 85% of patients in Phase III studies reported clinically meaningful results, with a favorable safety profile [6] - The treatment is a six-week regimen, with a noted recurrence rate of about 40% between months six and twelve post-treatment [28][29] Sales and Marketing Strategy - The company has expanded its sales force by hiring an additional 50 sales representatives to enhance market penetration and reduce territory sizes for better efficiency [17][19] - Education campaigns for eye care professionals (ECPs) have been crucial in increasing awareness and adoption of the treatment [12][22] Payer Dynamics and Reimbursement - Rapid payer uptake is attributed to the pharmacoeconomic benefits of XtendV compared to previous treatments like tea tree oil, which were less effective [31][34] - The company reports a gross-to-net discount of approximately 47%, with expectations to decrease to the low 40s by Q4 [41][42] Pipeline and Future Studies - Tarsus is exploring additional indications, including ocular rosacea and Lyme disease, with plans for Phase IV studies in MGD and other conditions [46][51] - The company is developing a scale for assessing ocular rosacea severity, aiming for a Phase II study later this year [52] Financial Outlook - As of Q1, Tarsus reported approximately $48 million in cash, sufficient to support ongoing growth and upcoming studies [56] - The company has not yet provided revenue guidance due to the uncertainty surrounding direct-to-consumer (DTC) impacts [57] Additional Insights - The treatment addresses a significant unmet need in the market, with no FDA-approved alternatives for Demodex blepharitis prior to XtendV [34][35] - The company is focused on operational excellence and evidence generation to support ongoing market expansion [12][46]

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]