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IPO Lockup Expiration: Tarsus Pharmaceuticals Inc.

tarsuspharmaceuticals april12 lt

The lockup period of Irvine, California-based Tarsus Pharma (TARS) ends on April 14, 2021.

Founded in 2017, Tarsus Pharma is a late clinical-stage biopharmaceutical company developing therapeutic candidates for ophthalmic conditions.

The lead product candidate TP-03 is in a phase IIb/III trial for the treatment of Demodex blepharitis, dubbed Saturn-1, for which enrollment has been completed and top line data is expected in Summer. A phase III trial of the compound for the same indication, dubbed Saturn-2, is expected to be initiated in the second quarter of 2021.

Last month, the company announced strategic partnership with LianBio to develop and commercialize TP-03 in Greater China for the treatment of Demodex blepharitis and Meibomian Gland Disease (MGD), eye conditions with significant unmet treatment needs.

The company has two more drug candidates - TP-04 and TP-05.

TP-04 is a potential treatment of rosacea, for which a phase I/II trial outside the United States is expected to be initiated in 2021.

TP-05 is a potential treatment for Lyme prophylaxis and community malaria reduction. An IND seeking FDA clearance to initiate a phase I/II trial of TP-05 for Lyme disease is anticipated to be submitted in 2021. For malaria, the company plans to conduct a phase I trial outside of the United States in 2021.

Tarsus Pharma made its debut on the Nasdaq Global Select Market on October 16, 2020, offering its shares at a price of $16 each and as mentioned above, the 180 day lockup period will end on April 14, 2021.

TARS opened the first day of trading on October 16, at $16.20 and closed at $20.58 that day. The stock has thus far hit a low of $15.32 and a high of $63.69.

TARS closed Tuesday's trading at $30.78, up 5.05%.

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