Tarsus acquires iRenix Medical for ~$75M upfront; adds late-stage ocular antiseptic IRX-101

Tarsus Pharmaceuticals, Inc.

• Upfront consideration of $75M: $37.5M cash + $37.5M in Tarsus common stock (607,093 shares).
• Potential approval/commercial milestones up to $490M plus low-to-mid single-digit revenue sharing.
• IRX-101 Phase 2b/3 RELIEF trial: ~50% relative reduction in post-procedural pain (p=0.0003) vs povidone-iodine.
• Phase 3 study expected to start H1 2027 with results in 2028; FDA-aligned program.
• Over 11M intravitreal injections performed annually in US; no new FDA-approved ocular antiseptic in >40 years.