Tarsus Sets Q4 Sales Goal of $140M–$145M Amidst Increased XDEMVY Adoption and Pipeline Development
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2025
0mins
Should l Buy TARS?
Source: SeekingAlpha
Earnings Performance: Tarsus Pharmaceuticals reported Q3 2025 net product sales of $118.7 million for XDEMVY, with over 103,000 bottles dispensed, exceeding previous guidance. The company anticipates Q4 sales between $140 million to $145 million and annual revenue of $440 million to $445 million.
Market Engagement: CEO Bobak Azamian noted significant growth in physician engagement, with over 20,000 doctors prescribing XDEMVY, and a 20% increase in weekly prescribers. The direct-to-consumer (DTC) campaign has also driven a 90% increase in website visits and a 42% rise in unaided awareness.
Pipeline Development: Tarsus plans to initiate a Phase II trial for ocular rosacea by the end of the year and expects to start a Phase 2b study for Lyme disease prevention in 2026, indicating a strong commitment to expanding its product offerings.
Operational Outlook: Management expressed confidence in sustaining growth despite potential challenges from seasonal demand fluctuations and rising operating expenses due to increased DTC investments. Analysts showed cautious optimism regarding the sustainability of growth and repeat prescriptions.
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Analyst Views on TARS
Wall Street analysts forecast TARS stock price to rise
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 63.960
Low
68.00
Averages
89.33
High
100.00
Current: 63.960
Low
68.00
Averages
89.33
High
100.00
About TARS
Tarsus Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics, starting with eye care. The Company’s lead product candidate, XDEMVY, is a lotilaner ophthalmic solution that targets and eradicates the root cause of Demodex blepharitis, Demodex mite infestation. The active pharmaceutical ingredient (API) of XDEMVY, lotilaner, paralyzes and eradicates mites and other parasites through the inhibition of parasite-specific gamma-aminobutyric acid-gated chloride channels. The Company is investigating the development of its product candidates to address targeted diseases with high unmet medical needs, which include TP-04, a novel ophthalmic gel formulation of lotilaner for the potential treatment of Ocular Rosacea, and TP-05, a novel investigational oral formulation of lotilaner, for potential Lyme disease prophylaxis and community malaria reduction.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tarsus Pharmaceuticals Q1 2026 Earnings Call Highlights
- Significant Sales Growth: In Q1 2026, Tarsus Pharmaceuticals reported over $145 million in net product sales for XDEMVY, reflecting an 85% year-over-year increase, indicating strong market acceptance and physician endorsement, which is expected to drive growth in the coming years.
- Full-Year Guidance Reaffirmed: Management reiterated its full-year 2026 guidance of net product sales between $670 million and $700 million, with gross margins around 93%, demonstrating confidence in future performance and reflecting a solid position in market competition.
- New Product Development Progress: Tarsus has initiated a Phase II trial for TP-05 with approximately 700 participants aimed at preventing Lyme disease, with top-line data expected in the first half of 2027, which will provide crucial support for the company's future product line expansion.
- One-Time Milestone Revenue: The company reported $16.7 million in license fees and collaboration revenues for the quarter, including a one-time $15 million regulatory milestone from the approval of TP-03 in Greater China, which will provide additional financial support for the company.
See More
Tarsus (TARS) Q1 2026 Earnings Transcript
See More
Tarsus Pharmaceuticals Q1 Earnings Announcement Scheduled
- Earnings Release Date: Tarsus Pharmaceuticals is set to announce its Q1 earnings on May 6th after market close, with a consensus EPS estimate of -$0.40, reflecting a 37.5% year-over-year improvement, indicating potential financial performance enhancement.
- Revenue Growth Expectations: The anticipated revenue for Q1 is $148.73 million, representing an impressive 89.9% year-over-year increase, which underscores the company's strong growth in market demand and product sales, potentially laying the groundwork for future profitability.
- Estimate Revision Dynamics: Over the past three months, there have been no upward revisions for EPS or revenue estimates, with one downward revision each, suggesting a cautious stance from analysts regarding the company's short-term performance, which may affect investor confidence.
- Future Sales Outlook: Tarsus expects sales to reach between $670 million and $700 million by 2026, with XDEMVY poised to become a blockbuster product exceeding $2 billion, highlighting the company's positive prospects in pipeline advancement and market potential.
See More
Tarsus Pharmaceuticals to Report Q1 2026 Financial Results on May 6
- Earnings Call Announcement: Tarsus Pharmaceuticals will host a live webcast on May 6, 2026, at 1:30 PM PT to report its Q1 2026 financial results and provide a corporate update, which is expected to draw attention from investors and analysts.
- Webcast Access: Participants can access the webcast via the company’s website, and a recorded version will be available shortly after the live event, providing crucial financial and strategic insights for subsequent analysis.
- Pipeline Progress: Tarsus is advancing its pipeline with a focus on eye care and infectious disease prevention, notably with XDEMVY® (lotilaner ophthalmic solution) receiving FDA approval for treating Demodex blepharitis, showcasing the company's innovative capabilities in ophthalmic treatments.
- New Drug Development: The company is also developing TP-04 as an ophthalmic gel for potential ocular rosacea treatment and TP-05 as an oral tablet for potential Lyme disease prevention, both currently in Phase 2 clinical trials, indicating Tarsus's commitment to addressing high unmet medical needs.
See More
Tarsus Initiates Clinical Trial for Lyme Disease Prevention
- Trial Launch: Tarsus Pharmaceuticals announced the dosing of the first participant in its Phase 2 clinical trial, Calliope, evaluating the novel oral therapy TP-05 (lotilaner) designed to kill Lyme-infected ticks before disease transmission, with enrollment expected to complete during the 2026 tick season and topline results anticipated in the first half of 2027.
- Urgent Market Need: Recent market research indicates that over 35 million Americans are at moderate to high risk for Lyme disease, with approximately 300,000 to 400,000 diagnosed annually, highlighting the critical demand for new prophylactic measures, especially as climate change expands the geographic range of ticks.
- Significant Efficacy: In the Phase 2a Carpo trial, TP-05 demonstrated over 90% tick mortality within 24 hours of attachment, compared to only 5% in the placebo group (p<0.001), indicating its potential in preventing Lyme disease transmission while showing good tolerability.
- Strategic Implications: TP-05 is considered the only non-vaccine drug-based prophylactic in development, and if approved by the FDA, it could fundamentally shift Lyme disease management from treatment to prevention, significantly reducing infection risks and improving public health outcomes.
See More
Tarsus Pharmaceuticals Executive Sells Shares Amid Strong Sales Growth
- Executive Stock Sale: Dianne C. Whitfield, Chief Human Resources Officer at Tarsus Pharmaceuticals, sold 12,274 shares of common stock between March 17 and 19, 2026, for approximately $839,000, indicating her ongoing pattern of reducing holdings.
- Shareholding Reduction: This transaction reduced Whitfield's direct holdings from 47,302 shares to 35,028 shares, representing a 25.95% decrease, reflecting her strategy of gradual divestment in line with available share capacity.
- Market Performance Analysis: Tarsus Pharmaceuticals generated $451.4 million in net product sales in 2025, more than doubling from the previous year, although the company remains unprofitable with a narrowed net loss of $66.4 million, showcasing strong unit economics.
- Future Growth Prospects: The company is advancing multiple clinical trials, including indications for ocular rosacea and Lyme disease prevention, with several Phase 2 catalysts on the horizon, indicating potential growth drivers for its product pipeline.
See More
Tarsus Pharmaceuticals Q1 2026 Earnings Call Highlights
- Significant Sales Growth: In Q1 2026, Tarsus Pharmaceuticals reported over $145 million in net product sales for XDEMVY, reflecting an 85% year-over-year increase, indicating strong market acceptance and physician endorsement, which is expected to drive growth in the coming years.
- Full-Year Guidance Reaffirmed: Management reiterated its full-year 2026 guidance of net product sales between $670 million and $700 million, with gross margins around 93%, demonstrating confidence in future performance and reflecting a solid position in market competition.
- New Product Development Progress: Tarsus has initiated a Phase II trial for TP-05 with approximately 700 participants aimed at preventing Lyme disease, with top-line data expected in the first half of 2027, which will provide crucial support for the company's future product line expansion.
- One-Time Milestone Revenue: The company reported $16.7 million in license fees and collaboration revenues for the quarter, including a one-time $15 million regulatory milestone from the approval of TP-03 in Greater China, which will provide additional financial support for the company.
See More
Tarsus (TARS) Q1 2026 Earnings Transcript
See More
Tarsus Pharmaceuticals Q1 Earnings Announcement Scheduled
- Earnings Release Date: Tarsus Pharmaceuticals is set to announce its Q1 earnings on May 6th after market close, with a consensus EPS estimate of -$0.40, reflecting a 37.5% year-over-year improvement, indicating potential financial performance enhancement.
- Revenue Growth Expectations: The anticipated revenue for Q1 is $148.73 million, representing an impressive 89.9% year-over-year increase, which underscores the company's strong growth in market demand and product sales, potentially laying the groundwork for future profitability.
- Estimate Revision Dynamics: Over the past three months, there have been no upward revisions for EPS or revenue estimates, with one downward revision each, suggesting a cautious stance from analysts regarding the company's short-term performance, which may affect investor confidence.
- Future Sales Outlook: Tarsus expects sales to reach between $670 million and $700 million by 2026, with XDEMVY poised to become a blockbuster product exceeding $2 billion, highlighting the company's positive prospects in pipeline advancement and market potential.
See More
Tarsus Pharmaceuticals to Report Q1 2026 Financial Results on May 6
- Earnings Call Announcement: Tarsus Pharmaceuticals will host a live webcast on May 6, 2026, at 1:30 PM PT to report its Q1 2026 financial results and provide a corporate update, which is expected to draw attention from investors and analysts.
- Webcast Access: Participants can access the webcast via the company’s website, and a recorded version will be available shortly after the live event, providing crucial financial and strategic insights for subsequent analysis.
- Pipeline Progress: Tarsus is advancing its pipeline with a focus on eye care and infectious disease prevention, notably with XDEMVY® (lotilaner ophthalmic solution) receiving FDA approval for treating Demodex blepharitis, showcasing the company's innovative capabilities in ophthalmic treatments.
- New Drug Development: The company is also developing TP-04 as an ophthalmic gel for potential ocular rosacea treatment and TP-05 as an oral tablet for potential Lyme disease prevention, both currently in Phase 2 clinical trials, indicating Tarsus's commitment to addressing high unmet medical needs.
See More
Tarsus Initiates Clinical Trial for Lyme Disease Prevention
- Trial Launch: Tarsus Pharmaceuticals announced the dosing of the first participant in its Phase 2 clinical trial, Calliope, evaluating the novel oral therapy TP-05 (lotilaner) designed to kill Lyme-infected ticks before disease transmission, with enrollment expected to complete during the 2026 tick season and topline results anticipated in the first half of 2027.
- Urgent Market Need: Recent market research indicates that over 35 million Americans are at moderate to high risk for Lyme disease, with approximately 300,000 to 400,000 diagnosed annually, highlighting the critical demand for new prophylactic measures, especially as climate change expands the geographic range of ticks.
- Significant Efficacy: In the Phase 2a Carpo trial, TP-05 demonstrated over 90% tick mortality within 24 hours of attachment, compared to only 5% in the placebo group (p<0.001), indicating its potential in preventing Lyme disease transmission while showing good tolerability.
- Strategic Implications: TP-05 is considered the only non-vaccine drug-based prophylactic in development, and if approved by the FDA, it could fundamentally shift Lyme disease management from treatment to prevention, significantly reducing infection risks and improving public health outcomes.
See More
Tarsus Pharmaceuticals Executive Sells Shares Amid Strong Sales Growth
- Executive Stock Sale: Dianne C. Whitfield, Chief Human Resources Officer at Tarsus Pharmaceuticals, sold 12,274 shares of common stock between March 17 and 19, 2026, for approximately $839,000, indicating her ongoing pattern of reducing holdings.
- Shareholding Reduction: This transaction reduced Whitfield's direct holdings from 47,302 shares to 35,028 shares, representing a 25.95% decrease, reflecting her strategy of gradual divestment in line with available share capacity.
- Market Performance Analysis: Tarsus Pharmaceuticals generated $451.4 million in net product sales in 2025, more than doubling from the previous year, although the company remains unprofitable with a narrowed net loss of $66.4 million, showcasing strong unit economics.
- Future Growth Prospects: The company is advancing multiple clinical trials, including indications for ocular rosacea and Lyme disease prevention, with several Phase 2 catalysts on the horizon, indicating potential growth drivers for its product pipeline.
See More
