Full-Time
Develops FDA-approved ophthalmic therapies
$255k - $357k/yr
Irvine, CA, USA
Hybrid
Hybrid work environment; remote option; up to 30% travel.
Bachelor's, Master's, PhD
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Tarsus Pharmaceuticals develops and markets treatments for eye care and infectious diseases, including XDEMVY, an FDA-approved lotilaner eye drop for Demodex Blepharitis. It works by applying the ophthalmic solution to the eyelids to kill Demodex mites and reduce eyelid inflammation. The company differentiates itself with a focused ocular and infectious diseases portfolio and by pursuing collaborations to advance its pipeline alongside selling approved products. Its goal is to address unmet medical needs, grow its product lineup, and expand into additional indications in eye care and infectious diseases.
Company Size
201-500
Company Stage
IPO
Headquarters
Irvine, California
Founded
2017
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Health Insurance
Dental Insurance
Vision Insurance
Paid Vacation
Hybrid Work Options
Professional Development Budget
Tarsus Pharmaceuticals reported strong Q2 performance for its Demodex blepharitis treatment XDEMVY, with sales rising 69% year-over-year to $173.9 million. The company raised its 2026 sales guidance to $685–$705 million, noting that over 700,000 patients have used the treatment since launch. Tarsus announced plans to acquire Alkeus Pharmaceuticals for $450 million upfront, adding late-stage Stargardt disease therapy ALK-001 to its pipeline. The Phase III NORTHSTAR trial is underway, with top-line results expected in the second half of 2029. The acquisition will expand Tarsus' strategy beyond XDEMVY into retina care. However, the company raised 2026 R&D guidance to $190–$210 million due to increased near-term spending. Profitability could potentially arrive in 2027, subject to acquisition-related costs.
Tarsus to acquire Alkeus in $450 million deal, reports strong Quarter and half. Friday, August 7, 2026 12:24 AM IRVINE, Calif. - Tarsus Pharmaceuticals announced yesterday that it has entered into a definitive agreement to acquire Alkeus Pharmaceuticals, Inc., a privately held retinal disease-focused biotechnology company developing gildeuretinol (ALK-001), an investigational once-daily oral therapy for Stargardt disease. The deal includes an upfront consideration of about $450 million, the companies said, comprising $270 million in cash and $180 million in Tarsus common stock. The pending transaction is expected to close this year, and also includes a milestone of up to $350 million upon potential regulatory approval and first commercial sale. The news was announced along with a strong unaudited financial report that saw total Q2 revenue for Tarsus rise to $173.9 million and first half revenue rise to nearly $336 million. According to the announcement, the planned acquisition of Alkeus represents what Tarsus said is an important step in its long-term strategy to build a leading eyecare company by bringing differentiated medicines to patients with significant unmet needs. The acquisition is expected to expand Tarsus' growing presence in retina, complement the capabilities established through the acquisition of iRenix Medical last month, and add a differentiated phase 3 program potentially addressing Stargardt disease. "From the beginning, our strategy has been to build a leading eyecare company by identifying significant diseases where patients have been starving for innovation and bringing forward medicines with the potential to change the standard of care," said Bobby Azamian, MD, Ph.D., CEO and chairman of Tarsus. "We believe gildeuretinol has the potential to be a transformational medicine for Stargardt disease and complements the retina capabilities we are already building through IRX-101. We also have tremendous respect for the Alkeus team and the exceptional work they have done to identify and bring forward an optimal asset to potentially address this blinding disease." Second Quarter and First Half Reporting The acquisition announcement came nearly concurrent with strong unaudited second quarter and first half reporting from Tarsus. Net sales of $173.9 million marked more than 69 percent growth versus last year's Q2 of $102.7 million, with net product sales of XDEMVY (lotilaner ophthalmic solution) 0.25%, a prescription eye drop designed to treat Demodex blepharitis, serving as a primary revenue driver, as well as what the company said was higher volume and improvements in the gross-to-net discount. Total first-half revenue for the company was reported at nearly $336 million (versus $181 million for the same period last year), with $319.3 million attributed to XDEMVY product sales and $16.7 million attributed to license fees and collaborations. Cost of sales in Q2 were $12.1 million compared with $6.2 million for the same period in 2025, due to manufacturing costs related to Xdemvy, the company said. Research and development expenses totaled $31.0 million compared with $15.6 million for the same period in 2025. Selling, general and administrative expenses were $150.7 million compared with $103.0 million for the same period in 2025. Net loss in the second quarter narrowed to $18.6 million, compared with $20.3 million for the same period in 2025, the company said. As of June 30, 2026, cash, cash equivalents and marketable securities were $449.7 million. The company also took the further step of increasing 2026 net sales guidance for XDEMVY to $685 million to $705 million. Related to the pending acquisition, Barclays is acting as exclusive financial advisor to Tarsus and Jefferies is acting as exclusive financial advisor to Alkeus. Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP is acting as legal counsel to Tarsus, and Latham & Watkins LLP is acting as legal counsel to Alkeus.
Tarsus Pharmaceuticals has secured $125 million through an oversubscribed private placement equity financing. The transaction includes participation from investors in Alkeus Pharmaceuticals, which Tarsus announced it would acquire earlier the same day. Notable investors include TCGX, Bain Capital Life Sciences, Wellington Management, ADAR1 Capital Management, Sirenia Capital Management LP, RTW Investments, and Vestal Point Capital. The company is selling 2,098,519 shares of common stock at $56 per share and pre-funded warrants to purchase 133,625 additional shares. The financing is expected to close on 7 August 2026. Tarsus intends to use the proceeds to fund clinical development, commercial activities, and general corporate purposes. Barclays is serving as lead placement agent, with BofA Securities and William Blair as co-placement agents.
Tarsus Pharmaceuticals has agreed to acquire Alkeus Pharmaceuticals for approximately $450 million upfront, consisting of $270 million in cash and $180 million in Tarsus stock. The deal includes potential milestone payments of up to $350 million upon regulatory approval and first commercial sale, plus low single-digit royalties. The acquisition adds gildeuretinol (ALK-001), a Phase 3 oral investigational medicine for Stargardt disease, an inherited retinal condition affecting over 36,000 people in the US with no FDA-approved treatments. More than 400 individuals have been treated with the drug to date, showing encouraging clinical findings. Top-line Phase 3 NORTHSTAR data are expected in the second half of 2029. The transaction has been approved by both companies' boards and Alkeus stockholders. It is expected to close in 2026, subject to regulatory clearances and customary conditions.
Tarsus Pharmaceuticals, Inc. (Nasdaq: TARS) has announced a major strategic acquisition, taking over privately held iRenix Medical, Inc., a clinical-stage ophthalmic biopharmaceutical company. This transaction marks a significant step in Tarsus’ ambition to expand its leadership in the eye care market and could have material implications for the company’s future growth, pipeline development, and share price.