Welcome to our dedicated page for Tarsus Pharmaceuticals SEC filings (Ticker: TARS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Tarsus Pharmaceuticals, Inc. filings document operating results, product commercialization, pipeline disclosures, governance matters, and capital-market reporting for a Nasdaq-listed biopharmaceutical company. Form 8-K reports include quarterly and annual financial results, XDEMVY net product sales commentary, corporate presentations, and clinical or commercial business updates involving TP-04 and TP-05.
Proxy and governance filings describe board composition, committee assignments, director elections, executive compensation, auditor ratification, stockholder voting results, and related compensation policies. The filing record also includes material-event disclosures for board appointments, Regulation FD presentations, common-stock voting matters, and formal disclosure of risk, oversight, and governance subjects relevant to Tarsus' commercial-stage pharmaceutical business.
Tarsus Pharmaceuticals, Inc. Chief Operating Officer Neervannan Seshadri sold 8,366 shares of common stock in an open-market transaction on March 4, 2026 at $76.67 per share. The sale was executed automatically under a Rule 10b5-1 trading plan adopted on November 13, 2025. After the sale, he directly held 70,817 shares. The filing also reports 475 shares held by his daughter, for which he disclaims beneficial ownership.
Tarsus Pharmaceuticals files its annual report describing rapid growth of XDEMVY, its first approved eye-care drug for Demodex blepharitis, and a broader lotilaner-based pipeline. XDEMVY generated $451.4 million in net product sales in 2025, with about 400,000 bottles delivered and more than $646 million in sales since launch.
The company is advancing TP-04 into a Phase 2 trial for ocular rosacea, with topline data expected in the first half of 2027, and TP-05 into a Phase 2 Lyme disease prophylaxis trial planned to start in the second quarter of 2026. Tarsus highlights extensive licensing from Elanco, significant reliance on XDEMVY, single‑source manufacturing, and ongoing capital needs as key business risks.
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.
PYOTT DAVID E I reported acquisition or exercise transactions in this Form 4 filing.
Tarsus Pharmaceuticals director David E. I. Pyott received new equity awards. On February 18, 2026, he was granted 5,893 stock options with a right to buy Tarsus common stock and 3,729 restricted stock units (RSUs).
The option grant will vest in three equal annual installments on February 18 of 2027, 2028, and 2029, contingent on his continuous service. Each RSU represents one share of common stock and will vest in three equal annual installments on March 15 of 2027, 2028, and 2029, also subject to continued service.
Tarsus Pharmaceuticals director David E. I. Pyott filed an initial statement of beneficial ownership, reporting his equity holdings in the company. The filing lists several stock options granted under the Tarsus Pharmaceuticals, Inc. 2020 Stock Plan that vested and became exercisable on April 24, 2023, August 1, 2024, and April 24, 2025. Another option grant is scheduled to vest and become exercisable on April 24, 2026, subject to his continuous service. He also holds restricted stock units that vest on April 24, 2026, subject to continuous service. In addition, 7,991 shares of common stock are reported as held indirectly by the David E.I. Pyott Trust.
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. received an amended Schedule 13G/A showing that investment entities associated with Kevin Tang collectively beneficially own 1,188,624 shares of Tarsus common stock. This represents 2.80% of the company’s outstanding common shares as of October 29, 2025.
The shares are held with shared voting and dispositive power through Tang Capital Management, LLC and its affiliated funds, including Tang Capital Partners, Tang Capital Partners International, Tang Capital Partners III, Inc., and Tang Capital Partners IV, Inc. The filing notes that the securities are not held for the purpose of changing or influencing control of Tarsus.
Tarsus Pharmaceuticals, Inc. director Katherine Goodrich reported the settlement of vested restricted stock units into common shares. On December 15, 2025, 2,233 restricted stock units (RSUs) were converted into 2,233 shares of common stock at a reported price of $0.00 per share, which she now holds directly.
Following this transaction, Goodrich directly holds 2,233 common shares and 4,467 RSUs. The RSUs are scheduled to vest in three equal installments on December 15 of 2025, 2026 and 2027, subject to her continuous service with the company, with each RSU representing the right to receive one share of Tarsus common stock.
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.