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Sep 30, 2021
Tarsus Q3 2021 Earnings Report
Reported third quarter results with a net loss of $15.7 million and advanced the clinical pipeline.
Key Takeaways
Tarsus Pharmaceuticals reported a net loss of $15.7 million for the third quarter of 2021. The company is on track to complete enrollment in the Saturn-2 Phase 3 trial for TP-03 by the end of the year and expects topline data in Q1 2022. They also continue to advance the Callisto Phase 1 trial of TP-05.
On track to complete enrollment in Saturn-2 Phase 3 trial for TP-03 by year end 2021, with topline data expected in Q1 2022.
Presented data from Titan and Atlas studies on the prevalence and impact of Demodex blepharitis at the American Academy of Optometry 2021 Annual Meeting.
Advanced the Callisto Phase 1 trial of TP-05 for the prevention of Lyme disease with data expected in the first half of 2022.
Cash and equivalents of $183.8 million as of September 30, 2021, for expected runway into the second half of 2023.
Tarsus
Tarsus
Forward Guidance
Tarsus Pharmaceuticals anticipates significant advancements in its pipeline, including initiating TP-03 for Meibomian Gland Disease and TP-04 for rosacea in the first half of 2022. The company also expects to complete the Phase 1 trial of TP-05 for the prevention of Lyme disease and conduct further FDA discussions in the first half of 2022.
Positive Outlook
- Initiating TP-03 for Meibomian Gland Disease in the first half of 2022.
- Initiating TP-04 for rosacea in the first half of 2022.
- Completing the Phase 1 trial of TP-05 for the prevention of Lyme disease in the first half of 2022.
- Conducting further FDA discussions in the first half of 2022.
- Expecting to earn an additional $15 million in clinical milestones in the first half of 2022 from LianBio partnership.
Challenges Ahead
- Incurred significant losses and negative cash flows from operations since inception.
- May need to obtain additional funding to complete the development and any commercialization of its product candidates.
- Heavily dependent on the success of its lead product candidate, TP-03 for the treatment of Demodex blepharitis.
- COVID-19 pandemic may affect Tarsus’ ability to initiate and complete preclinical studies and clinical trials.
- May not be successful in educating healthcare professionals and the market about the need for treatments specifically for Demodex blepharitis, Lyme disease, and/or other diseases or conditions targeted by Tarsus’ products.