---
schema_version: "secwatch.filing_event.v1"
accession: "0001819790-26-000066"
form_type: "8-K"
ticker: "TARS"
cik: "0001819790"
company_name: "Tarsus Pharmaceuticals, Inc."
filed_at: "2026-09-10T20:05:37+00:00"
generated_at: "2026-09-10T20:08:19.120574+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Tarsus closes $270M cash + stock buy of Alkeus; adds Stargardt drug ALK-001

## Summary
- Up-front consideration: $270M cash plus 2,908,692 Tarsus shares to Alkeus equityholders.
- Milestones up to $350M: $250M on US regulatory approval, $100M on first US sale; plus low-to-mid single-digit revenue share.
- Adds ALK-001, Phase 3 oral for Stargardt disease, with FDA Breakthrough, Orphan, Fast Track, Rare Pediatric designations.
- NORTHSTAR Phase 3 trial ongoing; topline data expected 2029.
- Acquisition closed Sept 4, 2026; Alkeus becomes wholly-owned subsidiary.

## SEC filing metadata
- accession: 0001819790-26-000066
- form_type: 8-K
- ticker: TARS
- cik: 0001819790
- company_name: Tarsus Pharmaceuticals, Inc.
- filed_at: 2026-09-10T20:05:37+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000066/0001819790-26-000066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819790/000181979026000066/tars-20260904.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819790-26-000066
- JSON: https://secwatch.observer/filing/0001819790-26-000066.json
- Plain text: https://secwatch.observer/filing/0001819790-26-000066.txt

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