TARS - Why Shares of Tarsus Pharmaceuticals Are Up Thursday
2023-07-20 14:04:17 ET
Shares of Tarsus Pharmaceuticals (NASDAQ: TARS) were up more than 12% as of 12:30 p.m. on Thursday. The stock is up more than 53% so far this year.
Tarsus is a clinical-stage biotech company that focuses on disorders with unmet needs, particularly eye disorders, dermatology, and infectious diseases. Its lead candidate, TP-03, is in phase 2b/3 trials to treat blepharitis (an inflammation of the eyelids) that is caused by an infestation of Demodex mites. There's a lot of enthusiasm lately around TP-03, with the therapy under Food and Drug Administration (FDA) review. The final decision is expected on Aug. 25 and investors appear to be anticipating a positive decision.
TP-03 has the potential to be the first FDA-approved treatment for Demodex blepharitis. The company said if approved this August by the FDA, it expects to begin sales in the fourth quarter and that there were 25 million cases of Demodex blepharitis last year in the U.S.
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Why Shares of Tarsus Pharmaceuticals Are Up Thursday