Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $53.8952W HIGH $91.53
Volume
642.11 K
Value Traded
63.15 M
Short % Float
13.89%
-1.07%Week
-12.75%1 Month
+24.22%3 Month
-0.47%6 Month
+95.17%5 Year
+284.32%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
3.17 B
EPS (TTM)
-0.99
P/E Ratio
-
Ent. Value
2.79 B
Total Shares
43.90 M
Float Shares
44.11 M
Insiders
5.74%
Institutions
100.48%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
TARS Catalyst Timeline
Dated clinical, regulatory and corporate events for Tarsus Pharmaceuticals, Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Tarsus Pharmaceuticals, Inc.
345Total events
14Upcoming
76Tier-1 (high impact)
2020 to 2029Coverage
Upcoming catalysts 2
Event history 50
◆Oral PresentationPresentation
Paper: Assessment of Tea Tree-Based Management in Demodex Blepharitis: A Real-World Longitudinal Study
Demodex blepharitissource ↗
◆Poster PresentationXdemvyApprovedPresentation
Poster: Real-World Longitudinal Study of Patients with Demodex Blepharitis and Soft Contact Lens Wear in the United States: Interim Data Analysis
Demodex blepharitissource ↗
◆Poster PresentationlotilanerPresentation
Poster: Efficacy of Lotilaner 0.25% and Tea Tree Oil in Demodex Blepharitis: A Systematic Review and Meta-analysis
Demodex blepharitissource ↗
◆Poster PresentationPresentation
Poster: Real-World Longitudinal Study of Patients with Demodex Blepharitis in the United States: 9-Month Follow-up Findings
Demodex blepharitissource ↗
◆Poster PresentationPresentation
Poster: Real-World Patient-Reported Satisfaction and Factors Associated with Perceived Benefit of Lotilaner Ophthalmic Solution, 0.25% for Demodex Blepharitis
Demodex blepharitissource ↗
▼Equity OfferingCorporate
Oversubscribed $125.0 million private placement equity financing announced
◆Management ChangeCorporate
Chief Commercial Officer Aziz Mottiwala departs; Neera Clase appointed Interim Chief Commercial Officer
▲Enrollment UpdateTrial
On track to activate approximately 20 new Key Account Leaders by Q3 2026
◆Oral PresentationPresentation
Tarsus management to participate in June 2026 investor conferences
▲Partnership / LicenseCorporate
Partnership with John Cena to raise awareness of Demodex blepharitis and XDEMVY
Demodex blepharitissource ↗
▲Trial InitiationTP-05Trial
Initiated Calliope Phase 2 trial of TP-05 for Lyme disease prevention
Lyme disease preventionsource ↗
▲FDA ApprovalXdemvyApprovedFDA Decision
Regulatory approval in China for XDEMVY (TP-03) by Grand Pharmaceuticals
Demodex blepharitissource ↗
▲Milestone PaymentXdemvyApprovedCorporate
$15 million milestone payment from Grand Pharmaceuticals for China approval
Demodex blepharitissource ↗
▲Trial InitiationTP-05Trial
Plans to initiate Phase 2 trial of TP-05 for Lyme disease prevention in Q2 2026
Lyme disease preventionsource ↗
▲First Patient DosedTP-05Trial
First participant dosed in Phase 2 Calliope trial of TP-05 for Lyme disease prevention
Lyme disease preventionsource ↗
▲Quarterly UpdateXdemvyApprovedCorporate
Q1 2026 XDEMVY net product sales of $145M, up 85% YoY
Demodex blepharitissource ↗
▲NMPA NDA ApprovalXdemvyApprovedEx-US Regulatory
TP-03 approved by NMPA in China for Demodex blepharitis
Demodex blepharitissource ↗
▲Milestone PaymentXdemvyApprovedCorporate
$15M milestone payment achieved from Grand Pharma for TP-03 NMPA approval and patent issuance
Demodex blepharitissource ↗
▲Trial InitiationTP-04Trial
Initiation of Phase 2 trial of TP-04 in ocular rosacea
ocular rosaceasource ↗
▲Quarterly UpdateXdemvyApprovedCorporate
Increased full-year 2026 XDEMVY net product sales guidance to $685-705 million
◆Oral PresentationPresentation
Management participation in fireside chat at BTIG 5th Annual Ophthalmology Day
◆Trial InitiationTP-04Trial
Phase 2 study of TP-04 for ocular rosacea to initiate in December 2025
ocular rosaceasource ↗
◆Oral PresentationPresentation
Fireside chat at Guggenheim 2nd Annual Healthcare Innovation Conference
▲Quarterly UpdateXdemvyApprovedCorporate
Q3 2025 XDEMVY net sales of approximately $119 million, up ~147% YoY
Demodex blepharitissource ↗
◆Trial InitiationTP-04Trial
Initiation of Phase 2 study for TP-04 planned for 2H 2025
Ocular Rosaceasource ↗
Past FDA Catalysts and PDUFA Decisions
How TARS actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2023-12-31 | TP-03 (Ersa) | Phase 2a topline data readout | Phase 2a |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
C57 / 100
Pipeline Score
$1.9B
Pipeline Value
$2.5B
Commercial Value
Fair Value
Valuation Signal
3
Drugs Scored
2.0x
rNPV / MCap
Top 10%
Small Cap(rank 67 of 658)
Percentile Rank
Tarsus Pharmaceuticals, Inc. carries a moderate pipeline score (57/100), with $2.9B risk-adjusted pipeline value, led by IRX-101 in Retinal Disease (Phase 3).
Commercial products (revenue basis: trailing 4 quarters of total revenue (10-K and 10-Q), to Jun 2026; product lines: last four quarters to Jun 2026 (10-K and 10-Q)) Revenue $606.3M x 4.1 = $2.5B
| Product | Revenue | Prior period | Change |
|---|---|---|---|
| XDEMVY | $590M | $296M | +99.5% |
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IRX-101 Small moleculeNCT05747430 | Retinal Disease | Phase 3 | COMPLETED | 395 | Mar 31, 2026 |
Clinical Trial Results
Readouts, endpoints and source filings for every TARS program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| TP-05 | Lyme disease prevention | Phase 2a | 2024-02-22 | Day 1: high dose mortality 97.0%, low dose mortality 92.0%, placebo mortality 5.0%; Day 30: high dose mortality 89.0%, low dose mortality 91.0%, placebo mortality 9.0%Read More | Tarsus Announces Positive Topline Results from Carpo, a Phase 2a Proof-of-Concept “Tick-Kill” Trial Evaluating TP-05 (lotilaner) for the Prevention of Lyme DiseaseRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| YARNO WENDY LDirector | Option | 302 16,956 held | $0.00 | 09/15/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in TARS
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| Deep Track Capital, LP | 3.4 % (-17.1 %) | 230.79 M | 3.67 M | 1.85% ( 66.77 K) |
TARS Institutional Ownership Trends
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-10-16 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How TARS ranks across every disease it competes in
Competitive Position is a premium feature
See how TARS ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialTARS News
TARSTarsus Plans to Present 11 Abstracts Highlighting New Insights in Demodex Blepharitis, Ocular Rosacea and the Real-World Impact of XDEMVY at the American Academy of Optometry 2026 Annual Meeting
Tarsus Pharmaceuticals plans to present 11 scientific abstracts at the American Academy of Optometry 2026 Annual Meeting, focusing on Demodex blepharitis, ocular rosacea, and the real-world impact of XDEMVY. These findings aim to enhance understanding and management of these conditions among eye care professionals. The conference will take place from September 30 to October 3 in Anaheim, California.
Read more →TARS▲ +9.1%on this news
Tarsus Pharmaceuticals Completes Acquisition of Alkeus Pharmaceuticals, Expanding Leadership in Eye Care
Tarsus Pharmaceuticals has completed its acquisition of Alkeus Pharmaceuticals, enhancing its focus on eye care. The acquisition adds ALK-001, an investigational treatment for Stargardt disease, which has received multiple FDA designations. Tarsus aims to advance the NORTHSTAR Phase 3 trial for ALK-001, with topline data expected in 2029.
Read more →TARS▲ +11.8%on this newsshared move
Tarsus to Participate in Upcoming Investor Conferences
Tarsus Pharmaceuticals, Inc. announced its participation in two upcoming investor conferences, including the Wells Fargo 21st Annual Healthcare Conference and the H.C. Wainwright 28th Annual Global Investment Conference. Management will engage in a fireside chat during the latter event. The company continues to advance its pipeline in eye care and other therapeutic areas.
Read more →TARS▲ +6.6%on this news
Tarsus Reports Second Quarter 2026 Financial Results, Advances Next Phase of Growth
Tarsus reported strong financial results for the second quarter of 2026, with net product sales of $173.9 million, reflecting a 69% increase year-over-year. The company has raised its full-year sales guidance to between $685 million and $705 million. Additionally, Tarsus is pursuing the acquisition of Alkeus Pharmaceuticals to further develop its retina pipeline, which includes a Phase 3 study.
Read more →TARS▲ +6.6%on this newsshared move
Tarsus Pharmaceuticals Announces Oversubscribed $125.0 Million Private Placement Equity Financing
Tarsus Pharmaceuticals has announced a successful $125 million private placement equity financing. The deal includes participation from existing and new investors, aimed at funding clinical development and other corporate purposes. The financing is set to close on August 7, 2026, subject to customary conditions.
Read more →TARS▲ +6.6%on this newsshared move
Tarsus Pharmaceuticals to Acquire Alkeus Pharmaceuticals and Advance Eye Care Leadership Position
Tarsus Pharmaceuticals has announced its acquisition of Alkeus Pharmaceuticals, focusing on gildeuretinol (ALK-001), an investigational oral therapy for Stargardt disease. This acquisition aims to enhance Tarsus' position in the retina market and is backed by positive clinical findings. The deal includes a $450 million upfront payment and potential future milestones. Top-line data from the Phase 3 NORTHSTAR trial is expected in 2029.
Read more →TARS▲ +6.6%on this newsshared move
Tarsus to Report Second Quarter 2026 Financial Results on Thursday, August 6, 2026
Tarsus Pharmaceuticals will report its second quarter 2026 financial results on August 6, 2026. The company will host a live webcast at 5:00 a.m. PT to provide updates. Tarsus focuses on innovative treatments in eye care and other therapeutic areas, with products in various stages of development.
Read more →TARS▼ -5.4%on this news
Tarsus Pharmaceuticals Announces Executive Leadership Transition as Company Advances Next Phase of Growth
Tarsus Pharmaceuticals announced the departure of Chief Commercial Officer Aziz Mottiwala, who will become CEO of a medical device company. Neera Clase has been appointed as Interim Chief Commercial Officer. This transition occurs as Tarsus enters a growth phase following the successful launch of XDEMVY and the acquisition of iRenix Medical, strengthening its position in eye care.
Read more →TARS▼ -5.3%on this news· ran to -17% by day 3shared move
Tarsus Advances Eye Care Leadership Strategy with Acquisition of iRenix Medical and Late-Stage Asset IRX-101
Tarsus has acquired iRenix Medical and its late-stage asset IRX-101, which aims to address vision loss in millions of patients. The acquisition is supported by positive Phase 2b/3 data and an FDA-aligned Phase 3 program, indicating a clear path forward for the treatment. This strategic move enhances Tarsus's leadership in eye care.
Read more →TARSTarsus to Participate in Upcoming June 2026 Investor Conferences
Tarsus Pharmaceuticals, Inc. announced its participation in several upcoming investor conferences in June 2026. The company aims to showcase its advancements in eye care and infectious disease prevention. Tarsus is also progressing its pipeline, including FDA-approved XDEMVY and other treatments in Phase 2 development.
Read more →TARSTarsus and John Cena Partner to Raise Awareness of Demodex blepharitis, a Common Eyelid Disease Affecting Approximately 25 Million Americans
Tarsus Pharmaceuticals has partnered with John Cena to raise awareness about Demodex blepharitis, a common eyelid disease affecting around 25 million Americans. Cena shares his personal experience with the condition and the FDA-approved treatment, XDEMVY. The campaign aims to encourage individuals to prioritize their eye health and seek proper diagnosis and treatment.
Read more →TARSTarsus to Participate in Upcoming May 2026 Investor Conferences
Tarsus Pharmaceuticals, Inc. has announced its participation in upcoming investor conferences. The company is focused on advancing its pipeline, which includes FDA-approved XDEMVY for Demodex blepharitis and other treatments in development. These efforts highlight Tarsus's commitment to addressing high unmet needs in eye care and infectious disease prevention.
Read more →TARSTarsus Reports First Quarter 2026 Financial Results and Recent Business Achievements
Tarsus Pharmaceuticals reported strong first quarter 2026 financial results, with XDEMVY sales exceeding $145 million, marking an 85% increase year-over-year. The company reaffirmed its full-year sales guidance of $670-700 million and highlighted the growing adoption of XDEMVY among eye care professionals. Additionally, Tarsus initiated a Phase 2 trial for TP-05, an investigational oral tablet aimed at preventing Lyme disease.
Read more →TARSTarsus to Report First Quarter 2026 Financial Results on Wednesday, May 6, 2026
Tarsus Pharmaceuticals, Inc. will host a live webcast on May 6, 2026, to report its first quarter financial results and provide a corporate update. The company is focused on innovative treatments in eye care and infectious disease prevention. Tarsus has FDA approval for its product XDEMVY and is developing additional therapies in Phase 2.
Read more →TARSTarsus Doses First Participant in Calliope, A Phase 2 Clinical Trial of TP-05 (lotilaner), a Novel Investigational Oral Tablet for the Potential Prevention of Lyme Disease
Tarsus Pharmaceuticals has initiated the Phase 2 Calliope trial for TP-05, an investigational oral therapy aimed at preventing Lyme disease. The trial will involve around 700 healthy adults and aims to complete enrollment during the 2026 tick season. Results are expected in the first half of 2027, marking a potential breakthrough in Lyme disease prevention.
Read more →TARSTP-03 (lotilaner ophthalmic solution) 0.25% Now Approved in China for the Treatment of Demodex Blepharitis, Triggering a $15M Milestone Payment to Tarsus
Tarsus Pharmaceuticals has received regulatory approval for TP-03 (lotilaner ophthalmic solution) 0.25% in China, leading to a $15 million milestone payment. This approval, achieved through Grand Pharmaceutical Group, marks a significant advancement in treating Demodex blepharitis, affecting over 40 million individuals in the region. Tarsus aims to support its partner in the upcoming product launch.
Read more →About Tarsus Pharmaceuticals, Inc.
Headquarters15440 LAGUNA CANYON ROAD, IRVINE, CA, 92618
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