Tarsus Pharmaceuticals Inc · Q4 2020 earnings

Briefing

Tarsus reported full-year financial results and business and clinical updates.

Tarsus Pharmaceuticals reported a net loss of $26.8 million for the full year 2020. The company's cash and cash equivalents stood at $168.1 million as of December 31, 2020. A strategic partnership with LianBio was established in March 2021 for TP-03 in Greater China, providing Tarsus with $70 million expected during the next 12 months and up to $130 million in future milestones, plus double-digit royalties and equity in LianBio.

• Completed enrollment for Saturn-1, the first TP-03 pivotal trial for Demodex blepharitis.
• Expected to initiate Saturn-2 in Q2 2021.
• Entered into a strategic partnership with LianBio for TP-03 in Greater China, securing $70 million expected within the next 12 months.
• Cash and cash equivalents totaled $168 million as of December 31, 2020.

Headline financials

Revenue & EPS history

The company's forward-looking statements include expectations regarding the receipt of payments and achievement of milestones under the LianBio collaboration, the ability of LianBio to commercialize TP-03 in Greater China, the market size for TP-03, future events, and the anticipated benefits of its product candidates including TP-03, the timing, objectives and results of the clinical studies and anticipated regulatory and development milestones and the quotations of Tarsus’ management.