Tarsus Pharmaceuticals Announces $100M Public Offering

Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS) has announced a proposed $100.0 million public offering, with the option for underwriters to purchase up to an additional $15.0 million of shares of its common stock. The offering will consist of shares of its common stock or pre-funded warrants to purchase shares of its common stock. The company intends to use the proceeds for general corporate purposes, including working capital, research and development, and potential acquisitions.

Tarsus Pharmaceuticals, Inc. aims to address unmet medical needs by applying proven science and new technology, initially focusing on eye care. The company has received FDA approval for XENDEMVY® (lotilaner ophthalmic solution) 0.25%, which is used for the treatment of demodex blepharitis. Additionally, Tarsus is developing TP-03 for the treatment of meibomian gland disease, TP-04 for rosacea, and TP-05 as an oral tablet for the prevention of lyme disease, all of which are in Phase 2.

The offering is being managed by Goldman Sachs & Co. LLC, BofA Securities, Guggenheim Securities, LLC, and Oppenheimer & Co. The registration statement related to the securities was filed with the U.S. Securities and Exchange Commission (SEC) on February 29, 2024, and became automatically effective upon filing.

The public offering is subject to market and other conditions, and there is no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

As of the most recent period, Tarsus Pharmaceuticals, Inc. has shown promising progress in its pipeline, with FDA approval for XENDEMVY and ongoing development of TP-03, TP-04, and TP-05. These developments indicate the company's commitment to addressing high unmet needs across various therapeutic categories, including eye care, dermatology, and infectious disease prevention. The market reacted to these announcements by moving the company's shares -3.3% to a price of $36.95. If you want to know more, read the company's complete 8-K report here.

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