Every 8-K that Tarsus Pharmaceuticals, Inc. (TARS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow TARS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TARS filings page.
Tarsus Pharmaceuticals, Inc. (TARS) completed its acquisition of Alkeus Pharmaceuticals, Inc. on September 4, 2026, merging Apex 2026 Merger Sub into Alkeus, which now operates as a wholly owned subsidiary. Tarsus paid $270,000,000 in up-front cash, subject to customary and post-closing adjustments, and issued 2,908,692 shares of common stock as additional up-front consideration to Alkeus equityholders.
Alkeus holders are also eligible for up to $350,000,000 in future milestone payments, including $250,000,000 payable in cash and/or Tarsus common stock upon U.S. regulatory approval of an Alkeus product, and $100,000,000 in cash upon the first U.S. sale of an Alkeus product, plus tiered low-to-mid single-digit revenue sharing on future annual worldwide gildeuretinol (ALK-001) net sales. Tarsus gains worldwide rights to ALK-001, an oral Phase 3 investigational therapy for Stargardt disease, which has received Breakthrough Therapy, Orphan Drug, Fast Track and Rare Pediatric Disease designations from the FDA and is being studied in the NORTHSTAR Phase 3 trial with topline data anticipated in 2029.
Tarsus Pharmaceuticals reported strong Q2 2026 performance, with XDEMVY net product sales of $173.9 million, an increase of more than 69% year-over-year. For the first half of 2026, XDEMVY product sales reached $319.3 million and license and collaboration revenue totaled $16.7 million from a China out-license milestone.
Operating expenses rose as the company invested in commercialization and pipeline programs: Q2 R&D was $31.0 million and SG&A was $150.7 million. Net loss was $18.6 million for Q2 and $25.5 million year-to-date, both lower than in 2025. Cash, cash equivalents and marketable securities were $449.7 million as of June 30, 2026.
Tarsus completed the acquisition of iRenix Medical, gaining IRX-101 in retina, and entered into an agreement to acquire Alkeus Pharmaceuticals and ALK-001. It also priced a $125 million private placement and advanced multiple clinical programs, with several Phase 2 and Phase 3 readouts expected beginning in 2027.
Tarsus Pharmaceuticals, Inc. agreed on August 5, 2026 to a private investment in public equity with existing and new healthcare investors, selling 2,098,519 shares of common stock at $56.00 per share and issuing pre-funded warrants to purchase up to 133,625 shares at $55.9999 per warrant, with a $0.0001 per-share exercise price. The financing is expected to close on August 7, 2026, subject to customary conditions, and is expected to generate approximately $125.0 million in gross proceeds before fees and any warrant-exercise proceeds. Tarsus plans to use net proceeds for clinical development, commercial activities and other general corporate purposes.
The pre-funded warrants are exercisable at any time, do not expire until fully exercised, and limit each holder’s ownership to 4.99% (or 9.99% if elected) of outstanding common stock after exercise. Tarsus agreed to a 90-day restriction on additional equity offerings, and its directors and officers entered 90-day lock-ups. A Registration Rights Agreement commits Tarsus to register the resale of the investors’ securities on a timeline linked to its pending acquisition of Alkeus Pharmaceuticals, with Tarsus bearing related registration expenses. Barclays acts as lead placement agent, with BofA Securities and William Blair as co-placement agents, and the securities are being sold under Section 4(a)(2) of the Securities Act.
Tarsus Pharmaceuticals, Inc. agreed to acquire Alkeus Pharmaceuticals through a merger that will make Alkeus a wholly owned subsidiary. The pending deal includes approximately $450 million in up-front consideration, consisting of $270 million in cash and $180 million of common stock valued at $61.38 per share, plus up to $350 million in additional milestone payments tied to U.S. regulatory approval and first commercial sale of an Alkeus product. Alkeus equityholders are also entitled to tiered payments based on worldwide net sales of gildeuretinol. Closing is subject to customary conditions, including expiration of the Hart-Scott-Rodino waiting period, and is expected in 2026, with an outside date that can be extended to January 31, 2027.
The acquisition adds gildeuretinol (ALK-001), an oral Phase 3 candidate for Stargardt disease, to Tarsus’ retina portfolio. Prior studies in more than 400 individuals showed a 29.5% slower growth rate of atrophic lesions and an 87% lower risk of significant low light visual acuity loss versus control, with some patients treated for over seven years. Top-line data from the ongoing NORTHSTAR Phase 3 trial in approximately 230 patients are expected in the second half of 2029. Tarsus also agreed to register the resale of stock issued in the transaction and to lock up certain Alkeus holders for two months after closing.
Tarsus Pharmaceuticals, Inc. reported a leadership change in its commercial organization. On July 13, 2026, the company announced that Aziz Mottiwala will leave his role as Chief Commercial Officer and end his employment with Tarsus on July 15, 2026.
The company stated that Mottiwala is departing to pursue a new opportunity as Chief Executive Officer of a public medical device company. The report is made as a departure of a certain officer under the disclosure requirements for corporate officers.
Tarsus Pharmaceuticals completed the acquisition of privately held iRenix Medical, bringing in late-stage ocular antiseptic candidate IRX-101. The upfront consideration totals approximately $75 million, consisting of $37.5 million in cash and 607,093 Tarsus common shares, valued at about $37.5 million.
iRenix equityholders may receive up to an additional $490 million in regulatory and commercial milestone payments, plus low-to-mid single-digit revenue sharing on future net sales of certain products. IRX-101, a stable aqueous chlorine dioxide solution, showed statistically significant ~50% relative reduction in post-procedural pain and ~25% reduction in corneal staining versus povidone-iodine in a 154-patient Phase 2b/3 RELIEF trial.
With FDA-aligned feedback, Tarsus plans a Phase 3 study of IRX-101 versus povidone-iodine, expected to begin enrolling in the first half of 2027 with results anticipated in 2028, supporting its strategy to expand leadership in eye care beyond its approved product XDEMVY.
Tarsus Pharmaceuticals, Inc. held its annual stockholder meeting on June 25, 2026. A total of 38,237,214 shares were represented in person or by proxy, out of 43,023,959 shares of common stock outstanding and entitled to vote as of the record date, establishing a quorum.
Stockholders elected four Class III directors — Wendy Yarno, Andrew Goldberg, Scott Morrison, and David E.I. Pyott — to serve until the 2029 annual meeting, with each nominee receiving substantially more votes for than withheld. Several other directors will continue serving under existing terms.
Stockholders also approved, on an advisory and non‑binding basis, the compensation of the company’s named executive officers, with 34,486,767 votes for and 238,014 against. In addition, they ratified the appointment of Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 38,219,521 votes for and minimal opposition.
Tarsus Pharmaceuticals reported strong first quarter 2026 growth driven by XDEMVY. Net product sales were $145.4 million, more than 85% higher than a year earlier, and total revenue reached about $162.1 million including $16.7 million of license and collaboration revenue from a China milestone.
The company reaffirmed full-year 2026 XDEMVY net product sales guidance of $670–700 million and continues to highlight peak sales potential exceeding $2 billion. Operating expenses rose as Tarsus invested heavily in commercialization and R&D, yet net loss narrowed to $7.0 million, or $(0.16) per share.
Cash, cash equivalents and marketable securities totaled $388.7 million as of March 31, 2026, supporting a pipeline that includes Phase 2 programs for ocular rosacea (TP-04) and Lyme disease prevention (TP-05), with topline data from both expected in the first half of 2027.
Tarsus Pharmaceuticals reported strong fourth quarter and full-year 2025 growth driven by its Demodex blepharitis eye drop XDEMVY. Full-year 2025 net product sales of XDEMVY reached $451.4 million, an increase of more than 150% year-over-year, with fourth quarter net product sales of $151.7 million.
The company delivered about 400,000 bottles to patients in 2025 and maintained gross margins of 93%. Despite heavy investment in commercial and R&D spend, the full-year net loss narrowed to $66.4 million from $115.6 million, with basic and diluted loss per share improving to $(1.59) from $(3.07).
Tarsus ended 2025 with a strong cash position of $417.3 million in cash, cash equivalents and marketable securities. Management highlighted peak sales potential for XDEMVY of more than $2 billion and ongoing Phase 2 development for TP-04 in ocular rosacea and TP-05 for Lyme disease prevention.
Tarsus Pharmaceuticals, Inc. has expanded its Board of Directors from seven to eight members and appointed David E.I. Pyott, former Chairman and CEO of Allergan, as a Class III director effective immediately. His term runs until the 2026 annual meeting of stockholders, or until a successor is elected and qualified.
Pyott will serve as Chairperson of the Board’s Commercial Committee and as a member of the Nominating and Corporate Governance and Compensation Committees. He is classified as an independent director under Nasdaq and SEC rules and will receive cash and equity compensation under Tarsus’ non-employee director compensation policy, including an initial equity grant with a target value of $540,000, split equally between stock options and RSUs.
Tarsus Pharmaceuticals, Inc. furnished a new corporate presentation under Regulation FD. The company posted the presentation on the Investor & News section of its website and attached it as Exhibit 99.1 to this report. The materials are designated as “furnished” rather than “filed,” which means they are not subject to certain liability provisions under the Exchange Act and are not automatically incorporated into other Securities Act or Exchange Act filings unless expressly stated.
Tarsus Pharmaceuticals (TARS) filed an 8-K stating it furnished a press release reporting results for the three and nine months ended September 30, 2025. The press release is attached as Exhibit 99.1 and is incorporated by reference.
The information was furnished under Item 2.02 and is not deemed filed for liability purposes under Section 18. The filing was signed by Jeffrey Farrow, Chief Financial Officer and Chief Strategy Officer.