Tarsus Pharmaceuticals, Inc. · NASDAQ:TARS
Tarsus Pharmaceuticals — Q3 2025 Earnings Presentation
14 slides from Tarsus Pharmaceuticals's earnings presentation, Nov 4, 2025
Slide 1: Third Quarter 2025 Financial Results Conference Call
Third Quarter 2025 Financial Results Conference Call November 4, 2025 Matt, an XDEMVY® Patient
Slide 2: Today's Speakers
Today’s Speakers Bobby Azamian, MD, PhD Aziz Mottiwala Jeff Farrow CEO & Chairman 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 and the most recent Form 10-Q quarterly filing filed with the SEC include statements regarding the potential commercial success and growth of XDEMVY in Demodex blep
Slide 4: XDEMVY: On Track to be a Potential Blockbuster-Plus Therapeutic
XDEMVY® On Track to be a Potential Blockbuster-Plus Therapeutic XDEMVY Net Sales XDEMVY Bottles ($ in millions) ~147% Delivered to Patients YoY growth (in thousands) $118.7 103.0 $102.7 91.0 $78.3 72.0 $66.4 58.5 $48.1 41.4 $40.8 37.0 26.0 $24.7 15.7 $13.1 $1.7 1.7 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'2
Slide 5: Extending Our Category-Creating Leadership
Tarsus Extending Our Category-Creating Leadership Ocular Rosacea (TP-04)1 Lyme Prevention (TP-05)2 Global Opportunity Plan to initiate Phase 2 Plan to initiate Phase 2 On track for potential submission study by year end study in 2026 in Europe in 2026 1. TP-04 is an investigational therapy. 2. TP-05
Slide 6: An Estimated 9.0 Million Americans Living with Demodex Blepharitis
Demodex Blepharitis An Estimated 25 Million Americans Living with DB1 DB Patients 1.5M Already diagnosed & seeking treatment2,3 1.5M MGD Patients ~9.0M With DB2, 3, 4 1.2M Dry Eye Rx Patients With DB2, 4, 5, 6 Patients Proactively Seeking Treatment for DB or Complementary Eye Conditions/Diseases 2.2
Slide 7: XDEMVY: Potentially One of the Best-Selling Prescription Eye Drops
XDEMVY Potentially One of the Best-Selling Prescription Eye Drops $140 $118.7M $120 $100 $102.7M ~147% Net Sales ($M) $78.3M YoY growth $80 $66.4M $60 ~16% $48.1M $40.8M $40 $24.7M QoQ growth $20 $13.1M $1.7M $0 7 | © Tarsus Pharmaceuticals | For Investor Purposes Only
Slide 8: Expanding Adoption and Deepening Physician Engagement
Expanding Adoption and Deepening Physician Engagement 80% of ECPs Prescribing Across All Patient Segments1 Demodex Blepharitis MGD Patients Dry Eye Rx Patients Cataract Patients Contact Lens Patients Patients with DB with DB with DB with DB 20,000+ 20% 30% ECPs prescribing XDEMVY QoQ growth in ECPs
Slide 9: DTC Campaign Delivering Positive and Growing Return on Investment
DTC Campaign Delivering Positive and Growing Return on Investment 42% QoQ growth in unaided awareness1 90% QoQ increase in XDEMVY.com website visits1 Awareness Diagnosis Treatment Patients see ad ECPs identify more More patients receive and engage online Demodex blepharitis cases XDEMVY 1. Represent
Slide 10: Tarsus Has Established a New Standard in Eye Health
Tarsus Has Established a New Standard in Eye Health Demodex blepharitis is now recognized as a mainstream condition Physicians are screening more and prescribing across patient segments Retreatment growing as XDEMVY becomes part of ongoing care 10 | © Tarsus Pharmaceuticals | For Investor Purposes O
Slide 11: Q3 2025 Another Quarter of Record Performance
Q3 2025 Another Quarter of Record Performance $118.7M >103,000 ~147% 44.7% XDEMVY Net Sales XDEMVY Bottles YoY Net Sales Growth Gross-to-Net Discount Delivered to Patients $118.7M Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Clive, an XDEMVY® Patient 11 | © Tarsus Pharmaceuticals | For Inve
Slide 12: Fourth Quarter Outlook
Fourth Quarter Outlook Executing with Focus and Discipline to Propel the Next Stage of Growth XDEMVY Net Product Sales Gross-To-Net Discount ~$140-$145M ~43-45% Full-Year 2025 XDEMVY Net Product Sales ~$440-$445M 12 | © Tarsus Pharmaceuticals | For Investor Purposes Only
Slide 13: Pipeline and Global Expansion Progress
Pipeline and Global Expansion Progress Europe XDEMVY for DB: On-track for potential submission in 2026 and regulatory approval in 2027 U.S. TP-04 for ocular rosacea: Plans to initiate Ph 2 trial in Q4 2025 TP-05 for Lyme Disease prevention: Plans to initiate Ph 2 trial in 2026 Japan TP-03 for DB: On
Slide 14: Q&A
Q&A Bobby Azamian, MD, PhD Aziz Mottiwala Jeff Farrow Sesha Neervannan, PhD CEO & Chairman Chief Commercial Officer Chief Financial & Strategy Officer Chief Operating Officer 14 | © Tarsus Pharmaceuticals | For Investor Purposes Only
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