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Dec 31, 2021
Tarsus Q4 2021 Earnings Report
Tarsus Pharmaceuticals reported full-year 2021 financial results and business achievements.
Key Takeaways
Tarsus Pharmaceuticals reported a full-year net loss of $13.8 million, with research and development expenses at $41.7 million and general and administrative expenses at $25.4 million. The company's cash, cash equivalents, and marketable securities totaled $171.8 million as of December 31, 2021. They anticipate topline data for the Saturn-2 Phase 3 trial in April 2022 and an NDA submission this year for TP-03.
Completed enrollment in the Saturn-2 Phase 3 trial for TP-03, with topline data expected in April 2022.
Reported positive pivotal Saturn-1 trial results, highlighting TP-03's potential as a standard of care for Demodex blepharitis patients.
Advanced TP-05 into the Callisto Phase 1b trial for Lyme disease prevention, with data expected in the second half of 2022.
Secured a $175 million non-dilutive credit facility and anticipate receiving $30 million in milestones in 2022 from the TP-03 out-license in Greater China.
Forward Guidance
Tarsus Pharmaceuticals anticipates several milestones in 2022, including topline data from the Saturn-2 trial and an NDA submission for TP-03. They also plan to initiate Phase 2 trials for TP-03 and TP-04, and expect Phase 1b data for TP-05.
Positive Outlook
- TP-03 Topline Pivotal Data (Saturn-2) for Demodex blepharitis anticipated in H1 2022
- TP-03 Initiate Phase 2 (Ersa) for Meibomian Gland Disease anticipated in H1 2022
- TP-03 NDA Submission for Demodex blepharitis anticipated in H2 2022
- TP-04 Initiate Phase 2 (Galatea) for Rosacea anticipated in H2 2022
- TP-05 Phase 1b Data (Callisto) for Lyme disease prevention anticipated in H2 2022
Challenges Ahead
- Tarsus has incurred significant losses and negative cash flows from operations since inception and anticipates that it will continue to incur significant expenses and losses for the foreseeable future
- Tarsus may need to obtain additional funding to complete the development and any commercialization of its product candidates, if approved
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