Tarsus Pharmaceuticals, Inc.

For the period ended Dec 31, 2025. Filed Feb 23, 2026.

About this filing

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

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Contents

Statements of Operations and Comprehensive Loss

(In thousands, except share and per share amounts)

	Year Ended December 31,
	2025	2024	2023
Revenues:
Product sales, net	$451,360	$180,059	$14,729
License fees and collaboration revenue	—	2,894	2,718
Total revenues	451,360	182,953	17,447
Operating expenses:
Cost of sales	30,684	12,826	1,593
Research and development	64,322	53,386	50,312
Selling, general and administrative	427,323	237,310	108,700
Total operating expenses	522,329	303,522	160,605
Loss from operations before other income (expense)	(70,969)	(120,569)	(143,158)
Other income (expense):
Interest income	15,747	15,014	10,337
Interest expense	(8,935)	(7,849)	(3,346)
Loss on debt extinguishment	—	(1,944)	—
Other income (expense), net	(202)	(206)	274
Total other income, net	6,610	5,015	7,265
Loss before income taxes	(64,359)	(115,554)	(135,893)
Provision for income taxes	(2,059)	—	—
Net loss	$(66,418)	$(115,554)	$(135,893)
Unrealized gain (loss) on marketable securities and cash equivalents	202	181	72
Comprehensive loss	$(66,216)	$(115,373)	$(135,821)
Net loss per share, basic and diluted	$(1.59)	$(3.07)	$(4.62)
Weighted-average shares outstanding, basic and diluted	41,784,014	37,604,538	29,383,276

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.