---
schema_version: "secwatch.filing_event.v1"
accession: "0001819790-26-000037"
form_type: "8-K"
ticker: "TARS"
cik: "0001819790"
company_name: "Tarsus Pharmaceuticals, Inc."
filed_at: "2026-05-06T23:59:59+00:00"
generated_at: "2026-05-14T22:52:01.989259+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Tarsus Q1 XDEMVY sales $145.4M (+85% YoY); net loss narrows to $7.0M

## Summary
- XDEMVY net product sales $145.4M vs $78.3M YoY; gross margin 94%.
- Reaffirmed FY2026 XDEMVY guidance $670-700M; peak sales potential >$2B.
- Net loss $7.0M ($0.16 loss per share) vs $25.1M loss ($0.64) YoY.
- License fees $16.7M from $15M China regulatory milestone; cash $388.7M.
- Phase 2 Calliope trial started for TP-05 Lyme disease prophylaxis; topline H1 2027.

## SEC filing metadata
- accession: 0001819790-26-000037
- form_type: 8-K
- ticker: TARS
- cik: 0001819790
- company_name: Tarsus Pharmaceuticals, Inc.
- filed_at: 2026-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000037/0001819790-26-000037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000037/tars-20260506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819790-26-000037
- JSON: https://secwatch.observer/filing/0001819790-26-000037.json
- Plain text: https://secwatch.observer/filing/0001819790-26-000037.txt

## Source-grounded claims
- claim_id: 00971625ff66d9ea9a2b4d511bb84b87f7751685
  claim: Tarsus Pharmaceuticals, Inc. reported first quarter ended March 31, 2026 results: revenue $145.4 million, net income $7.0 million, EPS $(0.16). Guidance reaffirmed.
  evidence_excerpt: • Product sales, net: were $145.4 million compared to $78.3 million for the same period in 2025, driven by higher volume and improvements in the gross-to-net discount. • License fees and collaboration revenue: were $16.7 million related to a $15.0 million regulatory milestone achieved under the China Out-License and $1.7 million of required China withholding tax associated with this milestone. The milestone payment was recorded on a gross basis, which increased license fees and collaboration revenue by $1.7 million, with an equal offsetting amount recorded as foreign tax expense within provision for income taxes. There were no license fees and collaboration revenue in the same period in 2025. • Cost of sales: were $9.4 million compared to $5.2 million for the same period in 2025, due to manufacturing costs related to XDEMVY, the royalty Tarsus pays on net product sales, and amortization expense for the milestone payments made to our licensor, which is being amortized over its remaining
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000037/0001819790-26-000037-index.htm

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