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Lyme Disease: one US-listed biotech with a clinical-stage programme

Infectious Disease & VaccinesUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$3.7Buniverse median $1.20B
Allocated capital$1.8B$3.7B competing
Phase 3 or filed01 mid, 0 early
Pure plays0this indication only
Capital rank105/299crowding rank 128

Lyme Disease is uncontested. Tarsus Pharmaceuticals (TARS) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with TP-05 Low Dose in phase 2.

There is no public comparable to price it against. TARS spreads its $3.7B market cap across 2 indications, so $1.8B of it is allocated here.

Nothing here has reached Phase 3: 1 programme in mid stage and 0 in early stage, so the field is still several years from a first approval.

$1.8B of allocated capital sits in Lyme Disease, ranking it 105th of 299 indications by the money committed to it.

Companies developing drugs for Lyme Disease 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
TARSTarsus PharmaceuticalsTP-05 Low DosePhase 21$3.7BNo2 30 Jun 2027

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Lyme Disease counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Lyme Disease has one competitor and a median of $3.7B.

Infectious Disease & Vaccines

Infectious Disease & Vaccines holds $16.5B of the map's capital, 2.5% of the total, spread across 13 indications and 10 companies. 0 of those indications have more than one company competing.

See every Infectious Disease & Vaccines indication on the map

Related indications in Infectious Disease & Vaccines

Hepatitis1 company · $1.3B · median $2.5BUncontestedMycobacterium Abscessus Infection1 company · $771M · median $1.5BUncontestedIntra-Abdominal Infections1 company · $771M · median $1.5BUncontestedSepsis1 company · $723M · median $8.7BUncontestedChronic Hepatitis B1 company · $484M · median $1.9BUncontestedCompensated Chronic Hepatitis B1 company · $484M · median $1.9BUncontestedHepatitis C1 company · $467M · median $467MUncontestedRSV Infection1 company · $408M · median $408MUncontested

Lyme Disease pipeline questions

Which biotech companies are developing drugs for Lyme Disease?

Tarsus Pharmaceuticals (TARS, TP-05 Low Dose, Phase 2). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Lyme Disease.

How advanced is the Lyme Disease pipeline?

Of the 1 clinical-stage programme in Lyme Disease, 0 are in Phase 3 or filed, 1 is in mid-stage development and 0 are in early-stage development.

Is anyone else developing a drug for Lyme Disease?

No. TARS is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Lyme Disease, which is why the indication is classified as uncontested.

When is the next Lyme Disease catalyst?

The next dated catalyst in Lyme Disease is TARS on 30 Jun 2027. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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