Tarsus Pharmaceuticals, Inc.
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 23, 2026
TARS$73.83+4.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 15. Exhibits, Financial Statement Schedules
(a) The following documents are filed as part of this report:
(1) Financial Statements (included in Part II of this Annual Report on Form 10-K):
Balance Sheets
Statements of Operations and Comprehensive Loss
Statements of Stockholder’s Equity
Statements of Cash Flows
Notes to Financial Statements
(2) Financial Statement Schedules:
All financial statement schedules are omitted because the information is inapplicable or presented in the notes to the financial statements
(b) The following exhibits are included herein or incorporated herein by reference:
INDEX TO EXHIBITS
| Incorporated by Reference | |||||
|---|---|---|---|---|---|
| Exhibit Number · Description · Form · File No. · Exhibit · Filing Date · Filed Herewith | |||||
| 3.1 | Amended and Restated Certificate of Incorporation of Registrant. | 8-K | 001-39614 | 3.1 | October 20, 2020 |
| 3.2 | Amended and Restated Bylaws of Registrant. | 8-K | 001-39614 | 3.2 | October 20, 2020 |
| 4.1 | Form of Registrant’s common stock certificate. | S-1/A | 333-249076 | 4.1 | October 9, 2020 |
| 4.2 | Description of the Registrant’s securities registered pursuant to Section 12 of the Securities Exchange Act of 1934. | 10-K | 001-39614 | 4.2 | March 14, 2022 |
| 4.3 | Amended and Restated Investors’ Rights Agreement, dated September 24, 2020, by and among the Registrant and the other parties thereto. | S-1/A | 333-249076 | 4.2 | October 9, 2020 |
| 4.4 | Form of Pre-Funded Warrant. | 8-K | 001-39614 | 4.1 | March 1, 2024 |
| 10.1# | Form of Indemnification Agreement between the Registrant and each of its directors and executive officers. | S-1/A | 333-249076 | 10.1 | October 9, 2020 |
| 10.2# | Tarsus Pharmaceuticals, Inc. 2016 Stock Plan, as amended and forms of agreements thereunder. | S-1 | 333-249076 | 10.2 | September 25, 2020 |
| 10.3# | Tarsus Pharmaceuticals, Inc. 2020 Equity Incentive Plan and form of agreements thereunder. | S-8 | 333-249571 | 99.2 | October 20, 2020 |
| 10.4# | Tarsus Pharmaceuticals, Inc. 2020 Employee Stock Purchase Plan. | S-8 | 333-249571 | 99.3 | October 20, 2020 |
| 10.5# | Amended and Restated Offer Letter, dated October 8, 2020, between the Registrant and Bobak Azamian, M.D., Ph.D. | S-1/A | 333-249076 | 10.5 | October 9, 2020 |
| 10.6# | Offer Letter, dated June 4, 2020, between the Registrant and Seshadri Neervannan, Ph.D. | S-1 | 333-249076 | 10.7 | September 25, 2020 |
| 10.7# | Offer Letter, dated June 22, 2020, between the Registrant and Aziz Mottiwala. | S-1 | 333-249076 | 10.9 | September 25, 2020 |
| 10.8# | Office Lease, dated May 28, 2020, between the Registrant and Discovery Business Center LLC. | S-1 | 333-249076 | 10.13 | September 25, 2020 |
| 10.9# | Management Cash Incentive Plan. | S-1/A | 333-249076 | 10.15 | October 9, 2020 |
| 10.10† | Development and License Agreement, dated March 26, 2021, between the Registrant and LianBio Ophthalmology Limited. | 10-Q | 001-39614 | 10.1 | May 11, 2021 |
| 10.11† | Amended and Restated License Agreement, dated June 3, 2022, between the Registrant and Elanco Tiergesundheit AG. | 10-Q | 001-39614 | 10.1 | August 11, 2022 |
| 10.12^ | Amended and Restated License Agreement, dated June 3, 2022,between the Registrant and Elanco Tiergesundheit AG. | 10-Q | 001-39614 | 10.2 | August 11, 2022 |
| 10.13# | Offer Letter, dated March 6, 2023 by and between the Registrant and Jeffrey Farrow. | 10-K | 001-39614 | 10.19 | February 27, 2024 |
| 10.14# | Form of Executive Severance and Change in Control Agreement. | 10-Q | 001-39614 | 10.2 | August 10, 2023 |
| 10.15 | Loan and Security Agreement, dated April 19, 2024, among Registrant and Biopharma Credit PLC, Biopharma Credit Investments V (Master) LP, and BPCR Limited Partnership. | 10-Q | 001-39614 | 10.1 | August 8, 2024 |
| 10.16 | Office Lease Termination Agreement, dated December 16, 2024, between the Registrant and Discovery Business Center LLC. | 10-K | 001-39614 | 10.24 | February 25, 2025 |
| 10.17† | Office Lease Agreement, dated December 16, 2024, between the Registrant and Spectrum Terrace III LLC. | 10-K | 001-39614 | 10.25 | February 25, 2025 |
| 10.18#† | Offer Letter, dated October 31, 2024, between the Registrant and Elizabeth Yeu. | 10-K | 001-39614 | 10.26 | February 25, 2025 |
| 10.19† | Novation and Termination Agreement, dated March 26, 2024, by and among the Registrant, LianBio Development (HK) Limited, LianBio, Shanghai LianBio Development Co., Ltd., Xi An Grand Chang An Pharmaceutical Co., Ltd., and Grand Pharmaceutical Group Limited. | 10-K | 001-39614 | 10.27 | February 25, 2025 |
| 10.20 | Amendment, dated May 1, 2025, to Amended and Restated License Agreement, dated June 3, 2022, between the Registrant and Elanco Tiergesundheit AG. | 10-Q | 001-39614 | 10.1 | August 6, 2025 | ||
| 19.1^ | Tarsus Pharmaceuticals, Inc. Insider Trading Policy | 10-K | 001-39614 | 19.1 | February 25, 2025 | ||
| 23.1 | Consent of Independent Registered Public Accounting Firm. | X | |||||
| 31.1 | Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | X | |||||
| 31.2 | Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | X | |||||
| 32.1* | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | X | |||||
| 32.2* | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | X | |||||
| 97.1 | Tarsus Pharmaceuticals, Inc. Policy for the Recovery of Erroneously Awarded Compensation. | 10-K | 001-39614 | 97.1 | February 27, 2024 | ||
| 101.INS | XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document. | X | |||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema With Embedded Linkbase Documents. | X | |||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). | X | |||||
| ^ | Pursuant to Item 601(a)(5) of Regulation S-K, certain exhibits and schedules have been omitted. The Registrant hereby undertakes to furnish supplementally a copy of any omitted exhibit or schedule upon request by the SEC. | ||||||
| † | Pursuant to Item 601(b)(10) of Regulation S-K, certain confidential portions of this exhibit have been omitted by means of marking such portions with asterisks as the identified confidential portions (i) are not material and (ii) is the type that the Registrant treats as private or confidential. | ||||||
| # | Indicates a management contract or compensatory plan. | ||||||
| * | The certifications attached as Exhibits 32.1 and 32.2 that accompany this Annual Report on Form 10-K are not deemedfiled with the SEC and are not to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Annual Report on Form 10-K, irrespective of any general incorporation language contained in such filing. | ||||||
(c) Financial Statement Schedules. All schedules have been omitted because the information required to be presented in them is not applicable or is shown in the financial statements or related notes.
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