IRVINE, Calif.—Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS), a biopharmaceutical company focused on the development and commercialization of therapeutic eyecare treatments, announced financial results for the second quarter and year-to-date period ended June 30, 2024. Revenues in the second quarter were $40.8 million, the company advised, an approximate 65 percent increase over first quarter 2024, driven by net product sales. Reported year-to-date revenue was $68.4 million, driven primarily by $65.5 million in net product sales, and $2.9 million in license fees and collaboration revenue, according to the announcement.

In the second quarter, the company said it generated $40.8 million in Xdemvy (a prescription eye drop designed to treat Demodex blepharitis) net product sales, a 65 percent increase over first quarter 2024. It also noted that it had accelerated eyecare professional adoption of  Xdemvy: As of August 7, 2024, approximately 11,000 ECPs started patients on Xdemvy and more than 60 percent of those ECPs were prescribing Xdemvy to multiple patients.

“The Xdemvy launch continues building a strong foundation to serve patients and doctors with a high-value, new category of medicine, with impressive quarter-over-quarter growth and robust payer coverage, including additional Medicare coverage—making it one of the most successful eyecare launches to date,” said Bobak Azamian, MD, PhD, chief executive officer and chairman of Tarsus. “We believe we’re just scratching the surface of Xdemvy’s potential and expect the expansion of our sales force and a planned new direct-to-consumer campaign to continue accelerating our growth and the potential ability to reach millions of patients with Demodex blepharitis.”

Reported net loss in the second quarter was $33.3 million, compared with a net loss of $31.4 million for the same period in 2023. Reported year-to-date net loss was $69.0 million, compared with a net loss of $54.8 million for the same period in 2023. As of June 30, 2024, cash, cash equivalents and marketable securities were reported to be $323.6 million, which includes the receipt of approximately $39.6 million of net proceeds from an initial draw on the company’s new credit facility in April 2024.