Tarsus Pharmaceuticals Gains Some 15% After Hours on Better-Than-Expected Q3 Results

TARS – which makes XDEMVY, a prescription eye drop to treat optical disease Demodex blepharitis – gained 14.5% to $53.25 shortly before 4:30 p.m. ET after unveiling a $0.61 Q3 loss, beating the $0.92 that analysts had reportedly forecast.

Revenues came in at $48.1 million, besting the $43.4 million that published reports indicated analysts had expected.

"The third quarter was our most successful to date for the launch of XDEMVY, with continued growth in patients served driven by broad physician adoption and strong payer coverage," company Chairman and CEO Dr. Bobak Azamian said in a statement announcing the results. "We also brought forward groundbreaking new data that demonstrate the immense potential of XDEMVY across a range of patient types, continued to advance our robust pipeline, and further strengthened our executive team and board."