Tarsus hits over one-month high on strong demand for eye drop

Tarsus Pharmaceuticals

10/11/2023 17:54

** Tarsus Pharmaceuticals' shares  TARS.O  surge as much as
17.2% to an over one-month high of $18.25; last up 9% in
afternoon trade
    ** Brokerage William Blair says early adoption of co's new
anti-parasitic eye drop Xdemvy "looks encouraging" as the drug
brings $1.65 mln in sales in Q3
    ** TARS launched Xdemvy for Demodex blepharitis, a parasitic
infection caused by Demodex mites in eyelids, in August after
FDA approval in July
    ** William Blair predicts that Xdemvy is set to become a
blockbuster therapy, approaching $1 bln in sales in 2030;
estimates 25 mln patients of Demodex blepharitis, and mentions
ease of diagnosis
    ** All 8 brokerages covering TARS rate the stock "buy";
their median PT is $49 - LSEG
    ** Including session's gain, stock up 15.3% YTD vs a 13.1%
decline in the Nasdaq Biotechnology Index  .NBI 

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))