Tarsus Pharmaceuticals Q2 sales beat estimates, lifts 2026 XDEMVY sales outlook

Tarsus Pharmaceuticals

06/08/2026 12:36

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Overview
    * US eye care drugmaker's Q2 product sales rose over 69% yr/yr, beating analyst expectations
    * Pending acquisition of Alkeus Pharmaceuticals to expand retina pipeline

Outlook
    * Tarsus raises 2026 XDEMVY net product sales guidance to $685-705 mln
    * Company expects topline data from Phase 2 KORE and Calliope trials in first half of 2027
    * Tarsus anticipates initiating Phase 3 COMFORT trial of IRX-101 in first half of 2027

Result Drivers
    * XDEMVY ADOPTION - Co said Q2 sales growth was driven by higher volume and improvements in gross-to-net discount for XDEMVY
    * COMMERCIAL EXECUTION - Co cited strong underlying demand, increased prescribing by eye care professionals, and expanded direct-to-consumer campaigns as supporting sales growth
    * MARKETING INVESTMENT - Higher SG&A expenses were primarily due to increased commercial and marketing costs, including DTC advertising and patient support functions

Company press release:  ID:nGNX9vj60B 
Key Details
 Metric    Beat/Mis  Actual    Consensu
           s                   s
                               Estimate
 Q2        Beat      $173.91   $169.68
 Product             mln       mln (8
 Sales                         Analysts
                               )
 Q2 Loss             $0.43      
 Per                           
 Share                         
 Q2 Net              $18.55     
 Loss                mln       
 Q2                  $193.82    
 Operatin            mln       
 g                             
 Expenses                      
 Analyst Coverage
    * The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
    * The average consensus recommendation for the pharmaceuticals peer group is "buy."
    * Wall Street's median 12-month price target for Tarsus Pharmaceuticals, Inc. is $92.00, about 50.1% above its August 5 closing price of $61.29
    * The stock recently traded at 44 times the next 12-month earnings vs. a P/E of 101 three months ago

Reuters Recommended Reads
    * Aug 5 - RxSight Q2 adjusted loss beats estimates; withdraws 2026 guidance
    * Aug 3 - Ocular Therapeutix Q2 product revenue flat, net loss widens on higher spending
    * Aug 5 - Sight Sciences Q2 revenue rises 20%, beats estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)