10x Insights
Loading account…
Companies / Healthcare / Tarsus Pharmaceuticals, Inc.
TARS

Tarsus Pharmaceuticals, Inc.

HealthcareBiological Products
Ticker TARSIRVINE, CAFiscal year ends DecemberBook value per share $8.03Diluted shares 43.2M

Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS) is a commercial-stage biopharmaceutical company focused on developing and commercializing therapeutics for eye care and infectious disease prevention. The company's website is www.tarsuspharm.com. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$451.36M
+146.7% year over year
Last 12 mo $606.33M
-15.72%
+50.2 percentage points
Last 12 mo -8.00%
$-66.42M
+42.5% year over year
Last 12 mo $-46.48M
-19.34%
+32.1 percentage points
Last 12 mo -13.40%
Cash & financing
$-12.45M
+85.0% year over year
Last 12 mo $74.16M
$-22.31M
+73.6% year over year
Last 12 mo $56.00M
0.21
Was 0.32× a year earlier
Last 12 mo 0.21
41.8M
+11.1% year over year
Last 12 mo 43.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Tarsus Pharmaceuticals, Inc. does

In the company’s own words

Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS) is a commercial-stage biopharmaceutical company focused on developing and commercializing therapeutics for eye care and infectious disease prevention. The company's website is www.tarsuspharm.com.

Tarsus launched XDEMVY (lotilaner ophthalmic solution) 0.25% in August 2023 following FDA approval in July 2023. XDEMVY is the first and only FDA-approved therapeutic for Demodex blepharitis, a disease caused by infestation of Demodex mites that affects an estimated 25 million Americans. The drug works by paralyzing and eradicating mites through selective inhibition of parasite-specific GABA-chloride channels. XDEMVY has generated over $646 million in net product sales since launch.

The company's pipeline includes several investigational product candidates utilizing the lotilaner active pharmaceutical ingredient. TP-04 is a sterile aqueous gel formulation in development for ocular rosacea, a chronic eye disease affecting approximately 15 to 18 million Americans with no current FDA-approved treatments. TP-05 is an oral tablet formulation being developed for Lyme disease prophylaxis, targeting the approximately 80 million Americans at risk of Lyme disease exposure, with roughly 400,000 estimated cases annually in the United States.

Tarsus has completed seven clinical trials for XDEMVY in Demodex blepharitis, including Phase 3 and Phase 2b/3 pivotal trials, all of which met primary and secondary endpoints with favorable safety profiles. The company has also completed clinical trials evaluating XDEMVY in Demodex blepharitis patients with Meibomian Gland Disease, another common eye condition affecting 30 to 40 million Americans.

The company licenses its core intellectual property from Elanco Tiergesundheit AG and has entered into a development and license agreement with Xi An Grand Chang An Pharmaceutical Co., Ltd. for TP-03 rights in China. Tarsus retains global rights to all other indications for its product candidates. The company employs a specialty sales force focused on eye care professionals and has implemented direct-to-consumer marketing campaigns to build disease awareness and drive patient engagement with XDEMVY.

Company details
Sector
Healthcare
Industry
Biological Products
Headquarters
IRVINE, CA
Fiscal year end
December
CIK
1819790
SIC
2836

Financial performance, year by year

Fiscal 2020–2025 · USD
$-210.12M$12.55M$235.22M$457.89M$680.55M202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Tarsus Pharmaceuticals, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

239
funds hold it
0 of 35
superinvestors hold it
$780.85M
held by funds, at market
28.5%
of shares held by funds

Largest fund holders · Tarsus Pharmaceuticals, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.08%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.03%of fund net assets
LORD ABBETT DEVELOPING GROWTH FUND INC
LAGWX · LORD ABBETT DEVELOPING GROWTH FUND, INC.
1.20%of fund net assets
PGIM Jennison Small Company Fund
PGOAX · Prudential Jennison Small Co Fund, Inc.
0.74%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Tarsus Pharmaceuticals, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Tarsus Pharmaceuticals, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Tarsus Pharmaceuticals, Inc.'s last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.