TARS - Tarsus completes enrollment in phase 3 study in eyelid disease; secures $175M credit line

Tarsus Pharmaceuticals (NASDAQ:TARS) completed enrollment in a second phase 3 trial, dubbed Saturn-2, of TP-03 (lotilaner ophthalmic solution, 0.25%) for patients with Demodex blepharitis; and executed a $175M credit facility with Hercules Capital and Silicon Valley Bank. The study has enrolled 408 patients with Demodex blepharitis. The demodex mite can cause blepharitis, which causes inflammation of the eyelids and dry eye. “We are committed to developing a solution for this disease as rapidly as possible and expect to share topline results from Saturn-2 in April, which, if positive, will be followed by a New Drug Application for TP-03 planned this year,” said Tarsus President and CEO Bobak Azamian. The company noted that the Saturn-1 trial had successfully met its primary and all secondary goal. The company said availability under the credit facility potentially extends cash runway into the anticipated commercialization of TP-03. The facility includes: $40M at closing with $20M drawn, $25M at

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Tarsus completes enrollment in phase 3 study in eyelid disease; secures $175M credit line