Tarsus reports Q3 net loss $39.1M; XDEMVY launch yields $1.7M in 5 weeks

Tarsus Pharmaceuticals, Inc.

2023-Q3 EPS reported -$3.35 revenue$4,371,000

Net product sales of XDEMVY were $1.7M with ~1,700 bottles dispensed in first 5 weeks post-launch.
Net loss of $39.1M ($1.28 per share) vs. $22.5M loss ($0.84) in Q3 2022; SG&A rose to $30.3M on launch costs.
Gross-to-net discount on XDEMVY was 73%, better than anticipated; cash, equivalents and marketable securities $246.9M.
Received $99.4M net proceeds from August 2023 public equity offering; balance sheet strengthened.
XDEMVY added to AAO Preferred Practice Pattern guidelines as first FDA-approved therapy for Demodex blepharitis.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Tarsus Pharmaceuticals, Inc. reported the third quarter ended September 30, 2023 results: revenue $1.9 million, net income $(1.28), EPS $(1.28).

Period: the third quarter ended September 30, 2023
Revenue: $1.9 million
Net income: $(1.28)
EPS: $(1.28)
Result: reported results

Exact text from the filing

Gland Disease ● TP-04 Topline Phase 2a (Galatea) Rosacea ● TP-05 Topline Phase 2a (Carpo) Lyme Disease Prevention ● Third Quarter 2023 Financial Results • Total revenues were $1.9 million, driven primarily by $1.7 million in net product sales, representing five weeks of sales following the launch of XDEMVY in late August. • Cost of sales were $0.4 million, due

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Source: SEC EDGAR

accession 0001819790-23-000081

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