Tarsus drops on concerns over newly approved eye disease drug

Tarsus Pharmaceuticals

25/07/2023 17:29

** Shares of drug developer Tarsus Pharmaceuticals  TARS.O 
fall ~25% to $18.03 premarket
    ** Co receives U.S. FDA's approval for its drug, Xdemvy, for
treatment of an eye condition known as Demodex blepharitis
    ** The drug's label, however, includes instillation site
stinging and burning as an adverse reaction 
    ** Concerns over adverse event profile overblown, brokerage
William Blair says, adding that the drug is poised to become a
blockbuster therapy in the eye care segment 
    ** Xdemvy is expected to be available by prescription by end
of August - company 
    ** Demodex blepharitis is caused by infestation of Demodex
mites, accounting for over two-thirds of all blepharitis cases,
which are characterized by eyelid margin inflammation, redness
    ** Including session moves, stock up ~23% this year

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))