Financial Data and Key Metrics Changes - In Q1 2025, Tarsus Pharmaceuticals generated over $78 million in Xtendi sales, representing a year-over-year increase of 217% [5][21] - Approximately 72,000 bottles of Xtendi were dispensed to patients, with a quarter-over-quarter growth of 18% [14][21] - Total operating expenses were approximately $104.6 million, an increase of $14 million compared to Q4 2024, primarily driven by direct-to-consumer advertising and related commercial costs [22] Business Line Data and Key Metrics Changes - Xtendi's sales growth was driven by an expanded sales force, which has led to a significant increase in prescribing frequency among eye care professionals (ECPs) [14][15] - The number of ECPs writing more than one prescription per week increased by approximately 110% compared to the end of Q3 2024 [14] Market Data and Key Metrics Changes - The company reported that over 90% of commercial and Medicare lives are covered, which has significantly reduced barriers to physician adoption [15][16] - The DTC campaign has increased average weekly website visits by 140% in March 2025 compared to December 2024 [16] Company Strategy and Development Direction - Tarsus aims to establish itself as a leader in eye care by creating new categories of treatment, such as ocular rosacea, and expanding the market for Xtendi [7][10] - The company is focused on leveraging its strong financial position to drive growth and advance its pipeline of category-creating medicines [11][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory of Xtendi, anticipating an increase in bottles dispensed to a range of 85,000 to 90,000 in Q2 2025 [26] - The company expects to see continued growth despite typical seasonal headwinds in the summer [26] Other Important Information - Tarsus recently secured approximately $135 million in equity financing, which strengthens its financial position and supports ongoing growth initiatives [10][25] - The company is on track to initiate a Phase II trial for TPO4 in ocular rosacea later this year [10][59] Q&A Session Summary Question: Have there been any disruptions in meeting with the FDA regarding pipeline products? - Management confirmed there have been no delays in meeting schedules with the FDA [32] Question: What is the current split between Medicare and commercial prescriptions? - The prescribing volume is currently split relatively equally between Medicare and commercial prescriptions, with Medicare coverage acting as a significant growth driver [33][34] Question: What are the key drivers for repeat prescribing? - Key drivers include an expanded sales force and improved coverage, which have led to increased frequency of prescribing among doctors [38][40] Question: How is the feedback from the ORION Registry and MGD data being received? - Doctors are responding positively to the new data, which is prompting them to diagnose and treat more patients across various segments [55][56] Question: What are the potential factors that might affect future guidance? - Factors include the impact of the DTC campaign and macroeconomic events that could influence visibility [64] Question: What is the expected level of stocking in the channel? - The company does not anticipate significant changes in inventory levels, which have remained consistent at around two to two and a half weeks [67]