Tarsus reports FY2025 XDEMVY sales of $451.4M (+150% YoY); net loss narrows to $66.4M; guides peak >$2B

Tarsus Pharmaceuticals, Inc.

2025-FY EPS reported -$1.59 revenue$451,360,000

Q4 2025 net product sales $151.7M (Q4 2024: $66.4M); full-year $451.4M; ~400,000 bottles delivered in 2025.
Full-year net loss $66.4M ($1.59 loss per share) vs $115.6M ($3.07) in 2024; Q4 net loss $8.4M ($0.20) vs $23.1M ($0.60).
Management guided XDEMVY peak sales potential >$2B; gross margin held at 93%; cash $417.3M at year-end.
Initiated Phase 2 trial of TP-04 for ocular rosacea (topline 1H 2027); TP-05 Phase 2 for Lyme prevention expected Q2 2026.
David E.I. Pyott (former Allergan CEO) appointed to board; DTC campaign boosted patient awareness of Demodex blepharitis to ~25%.

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