---
schema_version: "secwatch.filing_event.v1"
accession: "0001819790-26-000060"
form_type: "8-K"
ticker: "TARS"
cik: "0001819790"
company_name: "Tarsus Pharmaceuticals, Inc."
filed_at: "2026-08-06T11:08:34+00:00"
generated_at: "2026-08-06T11:10:36.352623+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Tarsus to acquire Alkeus for $450M upfront; adds Phase 3 Stargardt drug gildeuretinol

## Summary
- Upfront consideration: $270M cash + $180M in Tarsus stock ($61.38/share); total ~$450M.
- Milestones up to $350M (regulatory approval + first commercial sale) plus low-single-digit royalties.
- Gildeuretinol (ALK-001) is a once-daily oral for Stargardt disease; no FDA-approved therapy exists.
- Phase 3 NORTHSTAR trial enrolling ~230 patients; topline data expected H2 2029.
- Deal approved by both boards; expected to close in 2026, subject to HSR clearance.

## SEC filing metadata
- accession: 0001819790-26-000060
- form_type: 8-K
- ticker: TARS
- cik: 0001819790
- company_name: Tarsus Pharmaceuticals, Inc.
- filed_at: 2026-08-06T11:08:34+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000060/0001819790-26-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000060/tars-20260731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819790-26-000060
- JSON: https://secwatch.observer/filing/0001819790-26-000060.json
- Plain text: https://secwatch.observer/filing/0001819790-26-000060.txt

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