Overview

* Tarsus Q3 revenue of $118.7 mln beats analyst expectations, driven by XDEMVY sales

* Net loss for Q3 narrows to $12.6 mln from $23.4 mln in 2024

* Company sees 30% increase in weekly multi-patient prescribers in Q3

Outlook

* Company plans Phase 2 study for TP-04 in December 2025

* Company expects topline data for TP-04 by year-end 2026

* Company plans Phase 2 study for TP-05 in 2026

Result Drivers

* XDEMVY SALES GROWTH - XDEMVY net sales increased 147% year-over-year, reaching $119 mln, reflecting strong commercial momentum

* INCREASED PRESCRIBERS - 30% increase in weekly multi-patient prescribers in Q3, indicating strong integration into clinical practice

* BROAD COVERAGE - Over 90% coverage across commercial, Medicare, and Medicaid lives, supporting sales growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $118.69 $113.10

Revenue mln mln (6

Analysts

)

Q3 EPS -$0.30

Q3 Net -$12.58

Income mln

Q3 Basic -$0.30

EPS

Analyst Coverage

* The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the pharmaceuticals peer group is "buy."

* Wall Street's median 12-month price target for Tarsus Pharmaceuticals Inc ( TARS ) is $85.00, about 17.9% above its November 3 closing price of $69.79

* The stock recently traded at 85 times the next 12-month earnings vs. a P/E of 121 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)