Tarsus Pharmaceuticals, Inc.

Tarsus Pharmaceuticals, Inc. (TARS) priced its initial public offering on Oct 16, 2020 at $16.00 per share, within its $15.00–$17.00 range, raising $88M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $308.1M. BofA Securities was lead-left underwriter, joined by Jefferies, Raymond James and Ladenburg Thalmann. Gunderson Dettmer advised the company and A&O Shearman advised the underwriters.

Tarsus Pharmaceuticals, Inc. is a late clinical-stage biopharmaceutical company focused initially on ophthalmic conditions with limited treatment options. Its lead candidate, TP-03, is in a Phase 2b/3 trial for Demodex blepharitis, an eyelid inflammation caused by infestation with Demodex mites.

Status

IPO

Ticker

TARS

Exchange

Nasdaq Global Select

Priced

Oct 16, 2020

IPO price

$16.00

Price range

$15.00–$17.00

Raised

$88M

Market cap at IPO price

$308.1M

First filed

Sep 25, 2020

Underwriters

BofA Securities, Jefferies, Raymond James and Ladenburg Thalmann

Company counsel

Gunderson Dettmer

Underwriters' counsel

A&O Shearman

Sector

Biotech & pharma

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.