Tarsus Pharmaceuticals Inc Reports Second Quarter 2024 Financial Results
Intellectia.AI Updated: 1970-01-01
Tarsus Pharmaceuticals, Inc. Reports Second Quarter 2024 Financial Results
Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS) has announced its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY % Change | Consensus Estimates | Comparison to Estimates |
|---|---|---|---|---|---|---|
| Total Revenue ($M) | 40.8 | 24.7 | N/A | N/A | 31.66 | +28.9% |
| Earnings Per Share (EPS) | -0.76 | -0.96 | N/A | N/A | -0.92 | +17.4% |
Tarsus reported total revenue of $40.8 million in Q2 2024, an increase of 65% from Q1 2024, exceeding the consensus estimate of $31.66 million. The company's EPS for Q2 2024 stood at -$0.76, which was better than the consensus estimate of -$0.92.
Segment Performance
| Segment | Q2 2024 Revenue ($M) | Previous Guidance ($M) | Comparison to Guidance |
|---|---|---|---|
| XDEMVY Sales | 40.8 | N/A | N/A |
All of the company's revenue in Q2 2024 came from sales of XDEMVY. There is no previous guidance available for comparison in the earnings report.
Officer Comments
Key comments from the company’s officers highlighted the significant achievements in their commercialization of XDEMVY. They emphasized securing major contracts, expanding payer coverage, and the successful increase in the team of sales representatives to support business growth.
Stock Price Movement
After the earnings release, the stock price moved positively with an after-event percentage change of +4.05%.
In summary, Tarsus Pharmaceuticals, Inc. displayed strong financial performance for Q2 2024, driven primarily by the impressive growth in XDEMVY sales. The company successfully outperformed revenue and EPS estimates, reflecting effective execution of their commercialization strategies.
