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Get filing alertsTarsus reports $145M Q1 XDEMVY sales (+85% YoY), receives $15M China milestone
Filed May 6, 2026 · Period ending May 6, 2026 · ~1 min read
Key Changes
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Q1 2026 net product sales reached $145.4M, up 85% from $78.3M in Q1 2025, driven by higher prescription volume and improved gross-to-net discounts. Company reaffirmed full-year 2026 guidance of $670-700M.
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Received $15M regulatory milestone from China partner Grand Pharmaceuticals following XDEMVY approval in the People's Republic of China, recorded as $16.7M in collaboration revenue including withholding tax.
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Q1 net loss narrowed to $7.0M ($0.16 per share) from $25.1M ($0.64 per share) in Q1 2025. Cash position stood at $388.7M as of March 31, 2026.
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Initiated Calliope Phase 2 trial for TP-05, an oral Lyme disease prevention candidate designed to kill ticks before disease transmission. Topline data expected in first half of 2027.
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SG&A expenses increased 60% to $136.4M from $85.0M, reflecting $25.7M in expanded commercial and DTC advertising, $21.2M in patient support infrastructure, and plans to add 20 Key Account Leaders by Q3 2026.
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Summary
Tarsus Pharmaceuticals reported strong first-quarter 2026 results, with XDEMVY sales of $145.4 million representing 85% year-over-year growth. The company is successfully scaling its commercial launch, with nearly half of core eye care professionals now prescribing weekly. The $15 million China regulatory milestone adds non-dilutive capital following partner approval in that market.
The narrowed net loss to $7.0 million (from $25.1 million a year ago) demonstrates improving unit economics as the commercial ramp continues. The 60% increase in SG&A expenses reflects deliberate investment in commercial infrastructure, including direct-to-consumer advertising and an expanded sales force targeting high-opportunity practices.
With $388.7 million in cash and reaffirmed full-year guidance of $670-700 million in net sales, the company appears well-capitalized to support its growth trajectory. The Phase 2 initiation for TP-05 in Lyme disease prevention represents pipeline expansion into a new indication, though commercial impact remains years away. For XDEMVY shareholders, the quarter validates the commercial thesis with strong volume growth and improving gross-to-net dynamics.
Section-by-Section Diff
Event · Exhibit 99.1
Tarsus reported Q1 2026 XDEMVY sales of $145.4M (+85% YoY), received a $15M China regulatory milestone, and initiated a Phase 2 Lyme disease prevention trial.
Added in current filing · view on EDGAR →
Initiated Calliope, a Phase 2 trial evaluating TP-05, a novel investigational lotilaner-based oral prophylactic designed to kill ticks before potential disease transmission. Topline data is expected in the first half of 2027, with the potential to support a Phase 3-ready package.
Tarsus initiated the Calliope Phase 2 trial for TP-05, an investigational oral tablet designed to kill ticks and potentially prevent Lyme disease transmission. Topline data is expected in the first half of 2027, and the company believes the results could support a Phase 3-ready package. TP-05 is described as the only non-vaccine, drug-based preventative therapeutic in development for this indication.
Added in current filing · view on EDGAR →
Selling, general and administrative (SG&A) expenses: were $136.4 million compared to $85.0 million for the same period in 2025. The increase was due primarily to $25.7 million of commercial and marketing costs, including DTC advertising costs as we continue to expand promotional efforts for XDEMVY’s commercial launch, $21.2 million of patient support functions, information technology, legal, and professional expenses, and $4.5 million of payroll and personnel-related costs.
SG&A expenses increased 60% to $136.4 million in Q1 2026 from $85.0 million in Q1 2025, driven by expanded commercial activities. The increase included $25.7 million in commercial and marketing costs (including direct-to-consumer advertising), $21.2 million in patient support and infrastructure, and $4.5 million in additional personnel costs. The company is adding approximately 20 new Key Account Leaders by Q3 2026 to drive deeper utilization in high-opportunity practices.
Event · Item 2.02 — Results of Operations and Financial Condition
Tarsus Pharmaceuticals disclosed Q1 2026 financial results via press release on May 6, 2026.
Added in current filing · verify on EDGAR →
On May 6, 2026, Tarsus Pharmaceuticals, Inc. (the “Company”) issued a press release, which, among other matters, sets forth the Company’s results of operations for the three months ended March 31, 2026.
The company announced its first quarter 2026 financial results through a press release. The 8-K body itself does not contain the actual financial figures—those are in the attached press release exhibit. This is a standard earnings announcement filing.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 2, 2026 · How we verify