Tarsus Pharmaceuticals, a late stage biopharmaceutical company focused on the development of therapeutics for ophthalmic conditions, filed on Friday with the SEC to raise up to $86 million in an initial public offering.
The company's lead product candidate, TP-03, is a novel therapeutic being developed for the treatment of blepharitis caused by the infestation of Demodex mites, which is referred to as Demodex blepharitis. To date, the company has completed four Phase 2 trials for TP-03 in Demodex blepharitis, all of which met their primary, secondary and/or exploratory endpoints. The company commenced a Phase 2b/3 trial in September 2020, and intends to commence a Phase 3 trial in 2021
The Irvine, CA-based company was founded in 2016 and plans to list on the Nasdaq under the symbol TARS. Tarsus Pharmaceuticals filed confidentially on August 7, 2020. BofA Securities, Jefferies, Raymond James, LifeSci Capital and Ladenburg Thalmann are the joint bookrunners on the deal. No pricing terms were disclosed.
