Tarsus Pharmaceuticals (TARS) stock

Eye care therapeutics , market cap $3.3B

Eye drop therapeutics for eye conditions

Worth $3.3B

$73.83

+4.22%

As of Tuesday's close · Live for Pro members at the open

Quality Score

Average

In its industry

#69of 281

Biotech

Checks firing

4of 14

Choppy

From 52-week high

-19.3%

under its best in a year

TARS's Quality Score was unchanged on Tue, Nov 10, at 6.

Follow TARS's trial news. Pro members can get an alert when Tarsus Pharmaceuticals files news, and see its trials, share raises, and its CEO's filings.

Get an alert when TARS files news on its trialsSee it live, free until Thursday morning. No account. No card. Then keep going with a free account.

We do the work for you. Every stock is scored and ranked, every 15 seconds while the market is open. Here it's 15 minutes behind. Pro members see it live.

Next1H 2027“…treatment of ocular rosacea continues to progress, with topline data expected in the first half of 2027…”Trial data · SEC filing · Nov 3

Why is TARS up?

Up 4.2% today, while its biotech peers are down 1.4%; no story names it yet.

Fell on Nov 4

Down 5% on Nov 4, and still 2% under its Nov 3 close.

Its Nov 3 results: net loss per share, basic and diluted widened to $14.40, from $0.30 a year before. It fell 5% on Nov 4.

Sources: Price history, Nov 4, 2026; Company release, Nov 3, 2026

1 more reason, free with an account →1 more reason why TARS fell on Nov 4, from its filings, with the timeline and its peers, for Pro members.

Why TARS still beats the market over three years

Up 355% over the three years to Nov 9 while the S&P 500 rose 80%; down 5% on Nov 4.

5 reasons, from its filings, with the timeline and its peers, for Pro members.

Key facts on TARS

Key facts on TARS
The company	Sales up 86% on the year
Latest filing	8-K, Nov 3 Reported its quarterly results

1 more reason behind TARS's 6, free with an account →1 more reason behind TARS's 6, for Pro members.

TARS in the news

TodayNo story names it yet.

What's next

Tue Nov 10: Guggenheim 3rd Annual Global…Investor conference · date confirmed.

2 more dates ahead: conferences, for Pro members.

TARS catalysts

Coming up

After its last 4 reports it closed +2.1% on average, higher 2 of 4 times.

4 more coming up and 5 past catalysts since 2024, with sizes and sources, for Pro members.

What's next for TARS

Next step the company has named

1H 2027“TP-04: The Phase 2 Kore trial for the potential treatment of ocular rosacea continues to progress, with topline data expected in the first half of 2027.”Trial data · SEC filing · Nov 3

What it means: the first look at a trial’s main results, as the company reports them.

Lead program: TP-04
Another trial: Lotilaner Ophthalmic Gel in Patients With Ocular RosaceaPhase 2 · By invitation · 155 people · main data estimated Dec 31, 2026 · NCT07443202

2 more trials, 3 more milestones and 35 filings, for Pro members.

Dilution on the horizon

Shelf registration (S-3ASR, filed Feb 29, 2024)

For Pro members: 2 raises and their amounts, and the share count against a year ago.

Insiders

Director William J Link sold 12,500 shares on Sep 15, under a planned sale. 20 more insider trades this year.

From Form 4: open-market buys and sales only.

Get an alert when Bobak Azamian buys or sells

For Pro members: every trade, and Bobak Azamian’s 23 filings and quotes.

Get an alert when TARS files news on its trialsA free account. No card.

See every upcoming FDA date →

FDA dates in the next 60 days

Decision dates and advisory committee meetings the companies have announced in their filings, soonest first and small companies first.

DateStockDrug

In 12 daysFDA decisionIn 12 days · FDA decisionCAPRCapricor TherapeuticsDeramiocelCAPRCapricor Therapeutics · $500MDeramiocelFDA decision due (PDUFA)
In 12 daysFDA decisionIn 12 days · FDA decisionSVRASavaraMolgramostimSVRASavara · $900MMolgramostimFDA decision due (PDUFA)
In 42 daysFDA decisionIn 42 days · FDA decisionMLYSMineralys TherapeuticsLorundrostatMLYSMineralys Therapeutics · $1.3BLorundrostatFDA decision due (PDUFA)

14 more FDA dates and 103 trial data dates in the next 60 days, each on the FDA calendar. Pro members see whether each company's cash lasts past its date, with an optional alert before it. See all 151 dates, ranked →

Why TARS scores 6

Averagefor quality, not price, 4 of 14 chart checks firingWhat the Quality Score means

+4Chart checks 4 of 14 firing right now, one point each
+2Long-term trend above a rising 200-⁠day average

Profit subtractsRead on the last four quarters against the four before, or the last full year where no quarters are filed.
Growth addsSales and margins against a year earlier: up to +3 for fast growth and widening margins, down to -2 when both shrink.

No effect today: Run-up, Size, Dilution, Volatility, Cash flow, Persistence, and News.

What every line is worth, and the reason behind it, on TARS and every other stock.Get in free →

Price, score, chart checks, and the industry rank are from a snapshot taken at 11:29 PM ET, at least 15 minutes behind. How we rank stocks.

Tested. Our top-scored stocks returned 2.2x the average stock over the next month. Reconstructed after the fact; recorded live since Sep 9, 2026. How we tested it

Alert me when TARS's Quality Score turns up

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How TARS ranks in Biotech

TARS is #69 of 281 by Quality Score.

How TARS ranks in Biotech
Rank	Stock	Checks	Quality Score
1	ONCBeOne Medicines	8/14	24
2	VCELVericel	8/14	22
3	ETONEton Pharmaceutcials	9/14	20
	TAKTakeda Pharmaceutical		Open for its score
	TARAProtara Therapeutics		Open for its score
	TECHBio-⁠Techne		Open for its score
	TENXTenax Therapeutics		Open for its score
69	TARSTarsus Pharmaceuticals	4/14	6

Share count against a year before: TARS +9%, VCEL +1.4%, NBIX +2.2%, KRYS +2.3%.

When does TARS report earnings, and what happens after?

Expected to report Tue Feb 23, after the close (in 105 days).

What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.

What TARS reported on Nov 3, 2026

The quarter

Sales of $194.6M, 64% more than a year ago; a loss of $14.40 a share, from $0.30.

“Product sales, net: were $194.6 million compared to $118.7 million for the same period in 2025, driven by higher volume and improvements in the gross-to-net discounts.”

The quarter that ended Sep 30, from the company's press release

The press release The filing on EDGAR

Where the sales came from

TARS's results filing gives no sales by line in a table we read.

The outlook

No outlook figures read from this release.

In the company's words

“Product sales, net: were $513.9 million compared to $299.7 million for the same period in 2025, driven by higher volume and improvements in the gross-to-net discounts.”

From its results filing (SEC filing · Nov 3)

The numbers

Market value: $3.3B; today
Sales: $682M; up 86.3% on the year
Free cash flow: $32.4M; last 12 months

Its share count grew 19% a year over 3 years.

5 more figures, for Pro members.

No analyst estimates on Breakaway: every figure here is filed.

The whole report on TARS: every line of its sales, every outlook beside the one it replaced, and the company's words, for Pro members.

Close after the report, last 3

-1.2%+6.6%-4.9%

May 6Aug 6Nov 3

Reported	When	Gap	Reaction	5 days
Nov 3, 2026After close	After close	+1.9%	-4.9%	+1.6%
Aug 6, 2026Before open	Before open	-6.0%	+6.6%	+14.2%
May 6, 2026After close	After close	-3.2%	-1.2%	-0.1%

TARS closed higher after 2 of its last 4 reports.

All 4 reports, and TARS's Quality Score going into each

TARS sales and profit by year

Sales and profit by year

Sales grew in three of the last five years, to $451M in 2025. It lost money in each of the six years.

TARS has 4 of 14 chart checks firing

Trend1 of 5 shown

MA FAN 21 EMA W.EMA HH/HL 52W HI

Volume1 of 3 shown

VOL VDU U/D VOL

Tight range1 of 3 shown

ATR SQZ SQUEEZE NR7

Buying1 of 3 shown

OBV+CLOSE HI SPRING

The other 10 checks on TARS, and all 14 on every stock.Get in free →

TARS RSI today: 54.1, below its 50-day, above its 200-day

Not scored

RSI 54.1, MACD above signal, below its 50-day, above its 200-day. Not scored.13 readings

The deep dive on TARS

What it does and how it makes money3 findings"As of December 31 … (ii) China-based TP-03 sales threshold milestone payments of up to an aggregate of $100.0 million and (iii) tiered low-to-high-teen royalties for China Territory TP-03 product sales." (10-K for fiscal 2025)SEC filing · Feb 23, 2026
Where it stands4 findingsFor Pro members4 findings on where TARS stands: its cash, debt, and share count, for Pro members
What changed in its filings3 findingsA new heading in its "Risk Factors" this year: "Our direct-to-consumer marketing and telehealth pilot program may be subject to increased regulatory scrutiny." (10-K for fiscal 2025; not in fiscal 2024's)SEC filing · Feb 23, 2026, against the one of Feb 25, 2025One customer made up 74% of its revenue in fiscal 2025, up from 61% in fiscal 2024; another made up 63%, up from 47% in fiscal 2024.SEC filing · Feb 23, 2026
Who holds and trades it2 findingsFor Pro members2 findings on who holds and trades TARS, for Pro members
Against its closest peers4 peersShare count against a year before: TARS +9%, VCEL +1.4%, NBIX +2.2%, KRYS +2.3%.

9 more findings on TARS, each with its source, for Pro members.

TARS share count over time

Shares: 9.0% more than a year ago (to Sep 30).

Shares of TARS outstanding, as filed
Shares outstanding	As of
49.3M	Oct 29, 2026
43.9M	Jul 30, 2026
43M	May 1, 2026
42.6M	Feb 17, 2026

Offerings, shelves, and splits of TARS, from its filings
From its filings	Filed
Registered shares for a later sale (S-3ASR)	Oct 13, 2026
Raised $125M in a sale of shares, about 4% of its market value	Mar 13, 2025
Raised $90M in a sale of shares, about 3% of its market value	Mar 1, 2024
Registered shares for a later sale (S-3ASR)	Feb 29, 2024

TARS insider trades

One insider sold $877K across 1 filing in the last 6 months. No open-⁠market buys on record. The newest:

SellJeffrey S. Farrow$877KInsiderat $60.95 on Jun 16, filed Jun 17

SellJeffrey S. FarrowInsider$877Kat $60.95 on Jun 16, filed Jun 17

TARS's officers and directors

Officers and directors with a Form 4 in the last 12 months.

Bobak R. AzamianPresident/CEO and Board Chair · 7 trades
Elizabeth Yeu LinChief Medical Officer · 7 trades
Seshadri NeervannanChief Operating Officer · 6 trades
Dianne C. WhitfieldChief Human Resources Officer · 5 trades
Aziz MottiwalaChief Commercial Officer · 3 trades
Bryan WahlGeneral Counsel · 3 trades
Jeffrey S. FarrowOfficer · 3 trades
Jeffrey S. FarrowOfficer · 1 trade

7 more officers and directors file at TARS.

See insider trades by person

Which ETFs hold TARS?

In ETFs: TARS is under 0.1% of VTI, the most of the 24 funds Breakaway covers, by their holdings as filed for Jun 30, 2026.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals Inc is a commercial-stage biopharmaceutical company focused on the development and commercialization of therapeutics, starting with eye care. The company is focused on the development and commercialization of first-in-class therapeutic candidates to provide treatment for ophthalmic conditions. The company's candidate XDEMVY is a novel investigational eye drop to treat blepharitis caused by the infestation of Demodex mites, referred to as Demodex blepharitis. TP-04 for the potential treatment of ocular rosacea and TP-05 for potential Lyme disease prophylaxis and community malaria reduction.

370 employeesIrvine, CAtarsusrx.com

What Tarsus Pharmaceuticals says it competes with

“The biotechnology and pharmaceutical industries are characterized by rapid technological advancement, significant competition and an emphasis on intellectual property.”

From its annual report, SEC filing · Feb 23, 2026

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What would move TARS's score: 6 things
7 more filings explained, a plain line each
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BreakawayJun 17Jeffrey S. Farrow sold TARS$877K at $60.95, filed Jun 17

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See TARS's 14 chart checks

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Straight AnswersStraight Answers

As of Nov 10, 2026: TARS's Quality Score is 6 (Average), #69 of 281 in Biotech. Insiders sold $877K in the last 6 months (Form 4).

What does TARS's Quality Score say?

TARS scores 6 today, which Breakaway calls Average. It is #69 of 281 in Biotech by Quality Score, with 4 of 14 chart checks firing. Down 5% on Nov 4, and still 2% under its Nov 3 close. Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.

What is TARS's Quality Score?

TARS scores 6 today, which Breakaway calls Average (6 to 10). That is #69 of 281 in Biotech by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind TARS's 6.

Are insiders buying TARS?

One insider sold $877K across 1 filing in the last 6 months. No open-⁠market buys on record. The newest is Jeffrey S. Farrow, Insider, who sold $877K on Jun 16.

Are the prices delayed?

Only on the public pages, which run at least 15 minutes behind. Pro members, and anyone on a guest pass, see real-time prices: the scanner refreshes every 15 seconds, and your watchlist every few seconds, pre-market and after hours included.