Earnings Releases·Nov 3, 2026, 4:06 PM ET

Tarsus Pharmaceuticals — Third Quarter 2026 Earnings Summary

TARS

Net product sales surged 64% year-over-year to $194.6 million for the quarter and $513.9 million year-to-date, while XDEMVY surpassed $1 billion in cumulative net product sales; however, the company reported a net loss of $668.3 million for the quarter ($14.40 per share) compared to $12.6 million in the prior year, driven primarily by $632.2 million in acquired in-process research and development expenses from the iRenix and Alkeus acquisitions.
Gross margins remained consistent at approximately 93%, supported by a 20% increase in daily prescribing Eye Care Professionals and a 75% rise in direct-to-consumer high-value actions, though operating expenses rose significantly with R&D at $44.2 million and SG&A at $168.0 million for the quarter.
Management outlined a pipeline timeline targeting Phase 2 topline data for ocular rosacea (TP-04) and Lyme disease prevention (TP-05) in the first half of 2027, with Phase 3 initiation for the Comfort study (IRX-101) planned for the same period and results expected in 2028.
Strategic capital deployment included the completed acquisitions of iRenix Medical and Alkeus Pharmaceuticals, a $15.0 million regulatory milestone from a China out-license partner, and the appointment of Neera Clase as Chief Commercial Officer to expand market coverage.
The company ended the quarter with $309.6 million in cash and marketable securities and $72.9 million in long-term debt, maintaining a focus on bringing five medicines to patients within the next five years.

Company: TARSUS PHARMACEUTICALS INC
Sector: Healthcare
Industry: Biotechnology