Tarsus Pharma prices upsized equity offering after shares tumble

Tarsus Pharmaceuticals

03/05/2022 13:25

** Tarsus Pharmaceuticals Inc's  TARS.O  shares down ~2%
premarket, adding to big loss in previous session, after
follow-on prices
    ** Co late Mon sold 5.6 mln shares at $13.50 for $75.6 mln
raise  urn:newsml:reuters.com:*:nGNX9DpH4M
    ** TARS on Mon tumbled 23.5% to record low close of $14
after co said TP-03, its treatment for an eye disease caused by
infestation of Demodex mites, met key Phase III trial endpoints
 urn:newsml:reuters.com:*:nFWN2WS0D1
    ** Co early Mon also launched $50 mln stock offering to fund
the drug's commercialization
    ** BofA, Jefferies, Barclays and Raymond James acted as jt
bookrunners
    ** Co has ~20.2 mln shares outstanding and ~13.5 mln shares
of public float, per Refinitiv data
    ** Stock has lost half its value over the past six months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))