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Mar 31
Tarsus Q1 2025 Earnings Report
Tarsus Pharmaceuticals, Inc. Reports First Quarter 2025 Financial Results
Key Takeaways
Tarsus Pharmaceuticals reported strong performance in Q1 2025, driven by robust net product sales of XDEMVY, which increased 217% year over year. The company also strengthened its financial position with a successful equity offering and advanced its pipeline, including plans to initiate a Phase 2 trial for TP-04.
Generated $78.3 million in XDEMVY net product sales, a 217% increase year over year.
Dispensed approximately 72,000 bottles of XDEMVY to patients, up 23% over Q4 2024.
Strengthened financial position with approximately $135 million raised in a public equity offering, ending the quarter with $407.9 million in cash, cash equivalents, and marketable securities.
On-track to initiate a Phase 2 trial of TP-04 for Ocular Rosacea in the second half of 2025.
Tarsus
Tarsus
Tarsus Revenue by Segment
Revenue by Segment
Product Sales, Net Revenue
CapyFin.com Forward Guidance
Tarsus is focused on accelerating the growth of XDEMVY, creating a new category in Ocular Rosacea with TP-04, and advancing its pipeline with multiple catalysts expected in 2025 and 2026.
Positive Outlook
- On-track to initiate a Phase 2 study of TP-04 for Ocular Rosacea in H2 2025.
- Anticipated to meet with regulatory authorities in Japan in H2 2025 to determine a regulatory path for XDEMVY.
- On-track for potential European regulatory approval in 2027 of a preservative-free formulation of XDEMVY.
- On-track to initiate a Phase 2 study of TP-05 for the potential prevention of Lyme disease in 2026.
- Continued investment expected to increase alongside leading indicators of utilization.
Challenges Ahead
- Future results may differ materially due to various important factors.
- Heavily dependent on the successful commercialization of XDEMVY and the development/approval of product candidates.
- Significant losses and negative cash flows from operations are anticipated for the foreseeable future.
- May need to obtain additional funding to achieve goals.
- Market sizes for product candidates may be smaller than estimated.