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]