Tarsus Pharmaceuticals, Inc. · NASDAQ:TARS
Tarsus Pharmaceuticals — Merger or Acquisition (July 2026)
13 slides from Tarsus Pharmaceuticals's merger presentation, Jul 8, 2026
Slide 1: Tarsus Acquires iRenix Medical
Tarsus Acquires iRenix Medical July 8, 2026 Vivian, an XDEMVY patient.
Slide 2: World-Class Leadership Team With Proven Track Record of Success
World-Class Leadership Team With Proven Track Record of Success Bobby Azamian, MD, PhD Elizabeth Yeu, MD Aziz Mottiwala Jeff Farrow CEO & Chairman Chief Medical Officer Chief Commercial Officer Chief Financial & Strategy Officer 2 | © Tarsus Pharmaceuticals | For Investor Purposes Only
Slide 3: Forward-looking Statements
Forward-looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. These statements include statements regarding the anticipated benefits of Tarsus Pharmaceuticals’ acquisition of iRenix Medical, Inc. and the potential of IRX-101; the expected inte
Slide 4: Building A Leading Eye Care Company
Building A Leading Eye Care Company XDEMVY’s success validated our strategy. IRX-101 is the next step. Identify overlooked, Execute through clinical Develop differentiated, meaningful unmet needs in evidence, physician education science-backed innovation eye care and broad access 4 | © Tarsus Pharma
Slide 5: Tarsus Enters Retina with Acquisition of IRX-101
Tarsus Enters Retina with Acquisition of IRX-101 Differentiated, late-stage asset targeting a meaningful unmet need in one of the highest- volume procedures in eye care with 11M+ intravitreal (IVT) injections performed annually Strategic expansion into retina, establishing Tarsus in one of the large
Slide 6: The Burden Isn’t the Needle
The Burden Isn’t the Needle 11M+ >75% IVT injections performed Of retinal specialists surveyed each year1 attributed patient complaints to povidone-iodine2 Intravitreal (IVT) Injections Patients return every 4-8 weeks for sight saving IVTs; pain and ocular surface damage from repeated povidone-iodin
Slide 7: IRX-101 is a Patented, Novel, Cornea-Sparing Investigational Ocular Antiseptic
IRX-101 is a Patented, Novel, Cornea-Sparing Investigational Ocular Antiseptic with the Potential to Improve the Standard of Care Pain reduction and toxicity Active ingredient: purified, stable aqueous chlorine- dioxide (CIO2), a broad-spectrum agent, with no known resistance and effective penetrati
Slide 8: RELIEF Study: IRX-101 Reductions in Pain and Tolerability vs Povidone-Iodine
RELIEF Study: IRX-101 Demonstrated Statistically Significant Reductions in Pain and Tolerability Compared to Povidone-Iodine Mean Pain Score Mean Corneal Fluorescein Staining (CFS) Score Suggestive of Epithelial Cell Death 1.6 1.49 3 2.63 1.4 2.5 1.2 2.04 1 2 0.8 0.74 1.5 0.6 p=0.0003 1 0.4 0.2 p=0.
Slide 9: IRX-101: A Clear, De-Risked Path to Potential Approval
IRX-101: A Clear, De-Risked Path to Potential Approval Phase 3 • Anticipated to enroll ~270 participants • Slated to begin in 1H 2027 COMFORT Study • Topline data expected in 2028 Novel, Investigational Defined Anti-Infective Agent FDA Pathway • Sterilizes the eye by killing • Expected to generate m
Slide 10: Bringing Tarsus’ Category-Creating Engine to Retina
Bringing Tarsus’ Category-Creating Engine to Retina Existing Procedural Market 11M+ annual IVT injections1, each requiring antiseptic preparation Focused Physician Audience ~3,500 retina specialists perform the vast majority of injections Efficient Commercial Model Focused commercial effort that wil
Slide 11: IRX-101: A Disciplined Acquisition that Checks Every Box
IRX-101: A Disciplined Acquisition that Checks Every Box Late-Stage, Disciplined Large, Durable Market Differentiated Asset Transaction Structure Significant unmet need, with over 11 A clear, de-risked path to potential Milestone-based economics funded million IVT procedures performed approval align
Slide 12: A Transaction Structured to Balance Opportunity and Risk
A Transaction Structured to Balance Opportunity and Risk Approval & Upfront Cash / Cost to Tiered Commercial Consideration Equity % Approval Royalties Milestones $75mm 50% / 50% Up to Low-to mid- $490mm $20-30mm single-digit % 12 | © Tarsus Pharmaceuticals | For Investor Purposes Only Note: U.S. dol
Slide 13: Thank you Q&A
Thank you Q&A Bobby Azamian, MD, PhD Elizabeth Yeu, MD Aziz Mottiwala Jeff Farrow Neera Clase CEO & Chairman Chief Medical Officer Chief Commercial Officer Chief Financial & Strategy Officer SVP, Market Access & Reimbursement 13 | © Tarsus Pharmaceuticals | For Investor Purposes Only
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