Tarsus Pharmaceuticals (TARS) investor relations material

Company overview and product launch

• Commercial-stage biopharma focused on XDEMVY for Demodex blepharitis, approved August 2023.

• Achieved $450 million revenue in the last year, treating 500,000 patients from a 9 million addressable market.

• Demodex blepharitis affects 25 million in the U.S., with 9 million immediately addressable.

• 2024 revenue guidance set at $690–$700 million, with long-term peak sales estimated at $2 billion.

• Pipeline includes Phase 2 studies for ocular rosacea (topical gel) and Lyme disease prevention (oral tablet).

Market education and access

• Created a new therapeutic category, educating physicians and payers about Demodex blepharitis.

• Achieved 90% payer coverage, including Medicare, stabilizing gross-to-net discounts at 43–45%.

• Early launch required significant co-pay assistance; Medicare coverage in 2025 improved economics.

• Gross-to-net discounts higher in Q1 due to deductible resets, then normalize through the year.

Sales infrastructure and prescriber engagement

• Sales force started at 100, expanded by 50% after one year, with 15–20 key account leaders added recently.

• Over 20,000 prescribers, with 15,000 accounting for 85% of prescriptions; focus on increasing weekly/daily prescribers.

• 40% of core prescribers write weekly; daily prescribers up 20% quarter-over-quarter.

• Direct-to-consumer (DTC) advertising supports prescriber engagement and patient demand.