IRVINE, Calif. - Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), a company dedicated to addressing unmet medical needs by leveraging proven science and new technology, particularly in eye care, announced today the initiation of a stock offering.
The company is offering $100 million of its common stock, with an alternative for certain investors to opt for pre-funded warrants instead. Tarsus has also proposed to provide underwriters a 30-day option to purchase up to an additional $15 million worth of common stock.
This move comes as Tarsus seeks to expand its financial base amid efforts to advance its product pipeline. The company is currently developing treatments for a variety of conditions, including eye care, dermatology, and infectious disease prevention.
Among its products, XDEMVY® (lotilaner ophthalmic solution) 0.25% has already received FDA approval in the United States for the treatment of Demodex blepharitis. Additionally, Tarsus is working on TP-03 for Meibomian Gland Disease, TP-04 for rosacea, and TP-05, an oral tablet designed to prevent Lyme disease, all of which are in Phase 2 clinical trials.
The offering is contingent on market conditions, and there is no certainty regarding the completion of the offering or its final terms. Goldman Sachs & Co (NYSE:GS). LLC, BofA Securities, Guggenheim Securities, LLC, and Oppenheimer & Co. are serving as joint book-running managers for the offering.
The securities will be offered pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (SEC) on February 29, 2024.
While the registration statement is accessible via the SEC's website, the offering is only made by means of a prospectus. Interested parties can obtain copies of the preliminary prospectus supplement and the accompanying prospectus from the book-running managers mentioned above.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of any such jurisdiction.
The information provided here is based on a press release statement from Tarsus Pharmaceuticals, Inc. The forward-looking statements in the press release are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.
These statements are not guarantees of future performance, and investors are cautioned not to place undue reliance on them.
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