---
schema_version: "secwatch.filing_event.v1"
accession: "0001819790-26-000017"
form_type: "8-K"
ticker: "TARS"
cik: "0001819790"
company_name: "Tarsus Pharmaceuticals, Inc."
filed_at: "2026-02-23T23:59:59+00:00"
generated_at: "2026-05-16T01:14:21.489435+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001819790-26-000017
- form_type: 8-K
- ticker: TARS
- cik: 0001819790
- company_name: Tarsus Pharmaceuticals, Inc.
- filed_at: 2026-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000017/0001819790-26-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000017/tars-20260223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819790-26-000017
- JSON: https://secwatch.observer/filing/0001819790-26-000017.json
- Plain text: https://secwatch.observer/filing/0001819790-26-000017.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.