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Jun 30, 2024
Tarsus Q2 2024 Earnings Report
Tarsus' financial performance in Q2 2024 showed significant revenue growth driven by XDEMVY sales, alongside increased operating expenses related to commercialization efforts.
Key Takeaways
Tarsus Pharmaceuticals reported a strong second quarter in 2024, marked by a 65% increase in revenue compared to Q1 2024, driven by $40.8 million in XDEMVY net product sales. The company saw an improved gross-to-net discount of 44% and delivered over 37,000 bottles of XDEMVY to patients. However, the net loss was $33.3 million, impacted by increased selling, general, and administrative expenses related to the commercial launch of XDEMVY.
Generated $40.8 million in XDEMVY net product sales, representing a 65% increase over Q1 2024.
Delivered more than 37,000 bottles of XDEMVY to patients.
Achieved a gross-to-net discount of 44%, reflecting strong payer coverage.
Expanded sales force expected to be fully deployed by the end of Q3 2024.
Tarsus
Tarsus
Tarsus Revenue by Segment
Revenue by Segment
Product Sales, Net Revenue
CapyFin.com Forward Guidance
Tarsus is on track to deploy approximately 50 additional sales force representatives and leaders by the end of Q3 2024 and continuing to advance the pipeline and remain on-track to engage with the FDA on TP-03 (Meibomian Gland Disease), TP-04 (Papulopustular Rosacea) and TP-05 (Lyme disease prevention) by year end 2024
Positive Outlook
- On-track to deploy approximately 50 additional sales force representatives and leaders by the end of Q3 2024
- Continuing to advance the pipeline and remain on-track to engage with the FDA on TP-03 (Meibomian Gland Disease)
- Continuing to advance the pipeline and remain on-track to engage with the FDA on TP-04 (Papulopustular Rosacea)
- Continuing to advance the pipeline and remain on-track to engage with the FDA on TP-05 (Lyme disease prevention) by year end 2024
- Remain well positioned for even broader coverage and a steady state gross-to-net discount percentage in the low 40’s in 2025