TARS Tarsus Pharmaceuticals, Inc.

company

SEC Filings & Insider Trading Activity 2026

Business Overview

• • Core business model: Development and commercialization of therapeutics addressing root causes of eye diseases, beginning with FDA-approved XDEMVY for Demodex blepharitis launched August 2023
• • New product emphasis: Advancement of TP-04 for ocular rosacea with Phase 2 trial initiated December 2025; TP-05 oral tablet for Lyme disease prophylaxis with Phase 2 planned for Q2 2026
• • Strategic shift: Expanding beyond eye care with systemic prophylactic indication targeting Lyme disease, exploring significant unmet needs outside ophthalmology
• • Quantitative highlight: XDEMVY achieved $646 million net product sales launch-to-date; Saturn-2 trial showed 55% complete collarette cure vs 12% vehicle (p<0.0001)
• • Noteworthy fact: First FDA-approved therapeutic for Demodex blepharitis with U.S. patient base estimated at 25 million; ongoing global regulatory progress including China approval expected in 2026

Risk Factors

• • Risk from OBBB Act tax reform, enacted July 2025, with $2.1M state income tax due to nonconforming states' capitalization requirements
• • China geopolitical risk from reliance on China Out-License with $86.1M proceeds and up to $100M sales milestones and royalties exposure
• • Supply chain vulnerability from $23.8M non-cancelable minimum XDEMVY manufacturing purchase obligations through 2029
• • Commercial disruption risk from expanded direct-to-consumer advertising costs of $112.6M for XDEMVY competing in market
• • Financial risk from credit facility with 6.75%+ SOFR interest, $75M drawn in 2024, and potential covenants restricting operations

Management Discussion & Analysis

• • Revenue $451.4M full year 2025 from XDEMVY sales, up from zero in 2024, delivering 400,000 bottles in 2025
• • Net loss $66.4M in 2025 versus $115.6M in 2024 and $135.9M in 2023, operating expenses to increase with commercial expansion
• • Best segment: XDEMVY eye care with $151.7M Q4 sales, ~90% covered lives, gross-to-net discount ~45% annually
• • Cash, cash equivalents and marketable securities $417.3M at Dec 31, 2025; funded by IPOs, follow-on offerings, license fees, and credit facilities
• • Forward outlook: Phase 2 trials ongoing for TP-04 ocular rosacea (results H1 2027) and TP-05 Lyme prophylaxis (Phase 2 start Q2 2026), potential EU/Japan/China approvals for TP-03

What are the latest TARS SEC filings in 2026?

Tarsus Pharmaceuticals, Inc. (TARS) has filed a 10-K annual report on February 23, 2026, a 10-Q quarterly report on May 6, 2026, an 8-K current report on August 6, 2026 with the SEC. SignalX tracks every new SEC EDGAR filing daily, including 10-K, 10-Q, 8-K, and Form 4 insider transactions, with AI-powered summaries of key sections.

When did TARS file its most recent 10-K annual report?

Tarsus Pharmaceuticals, Inc. (TARS) filed its most recent 10-K annual report on February 23, 2026. The 10-K includes audited financial statements, business overview, risk factors, and management discussion, all available on SignalX with AI-generated summaries and XBRL financial data.

How do I view TARS 10-Q quarterly reports?

Tarsus Pharmaceuticals, Inc. (TARS)'s most recent 10-Q quarterly report was filed on May 6, 2026. SignalX displays every TARS 10-Q with AI-generated summaries of the MD&A (Management Discussion & Analysis) and Risk Factors sections, plus links to the original SEC EDGAR document.

What 8-K current reports has TARS filed recently?

Tarsus Pharmaceuticals, Inc. (TARS)'s most recent 8-K was filed on August 6, 2026. 8-K filings disclose material corporate events such as earnings releases, executive changes, mergers, and other significant developments. SignalX surfaces each 8-K with item-level summaries so you can quickly see what happened.

Where can I find TARS insider trading activity (Form 4)?

SignalX aggregates every TARS Form 4 insider transaction from SEC EDGAR. Form 4 reports show when officers, directors, and 10% shareholders buy or sell company stock, with transaction code, share count, and price per share.

How often does TARS file with the SEC?

Tarsus Pharmaceuticals, Inc. (TARS) files a 10-K annual report once per year (typically within 60 days of fiscal year-end) and 10-Q quarterly reports three times per year. 8-K current reports are filed as needed when material events occur, and Form 4 insider transaction reports are due within two business days of a trade. SignalX monitors SEC EDGAR daily to surface every new TARS filing with AI-powered analysis.

What is the difference between 10-K, 10-Q, and 8-K SEC filings?

A 10-K is a comprehensive annual report with audited financials, business overview, and risk factors. A 10-Q is a shorter quarterly report with unaudited financials and management discussion. An 8-K is a current report filed when a material event occurs, such as earnings releases, executive changes, acquisitions, or other significant developments. SignalX provides AI-generated summaries for all three filing types for Tarsus Pharmaceuticals, Inc. (TARS).

What is TARS's SEC CIK number?

Tarsus Pharmaceuticals, Inc. (TARS)'s SEC CIK (Central Index Key) number is 1819790. The CIK is a unique identifier assigned by the SEC to every filing entity. You can use CIK 1819790 to look up all TARS filings on SEC EDGAR, or browse them here on SignalX with AI-powered analysis.

Where can I find TARS return on equity (ROE) and financial data?

SignalX extracts XBRL financial data from Tarsus Pharmaceuticals, Inc. (TARS) 10-K annual filings, including revenue, net income, gross profit, operating income, EPS, total assets, stockholders' equity, and operating cash flow. Return on equity (ROE) can be derived from net income divided by stockholders' equity. Multi-year financial trends are displayed in the Financial Summary table above.