Tarsus Pharmaceuticals (NASDAQ: TARS) reported second quarter 2026 net product sales of $173.9 million for its eye drop XDEMVY, a 69% increase from $102.7 million in the same period of 2025, according to a company press release.

The Irvine, California-based company raised its full-year 2026 XDEMVY net product sales guidance to $685–$705 million. The drug treats Demodex blepharitis, an eyelid condition caused by mite infestation.

The company reported a net loss of $18.6 million for the quarter, or $(0.43) per share, compared with a net loss of $20.3 million, or $(0.48) per share, in the second quarter of 2025. Selling, general and administrative expenses rose to $150.7 million from $103.0 million, driven largely by increased marketing and direct-to-consumer advertising costs. Research and development expenses nearly doubled to $31.0 million from $15.6 million. Cash, cash equivalents, and marketable securities stood at $449.7 million as of June 30, 2026.

Tarsus also announced a pending acquisition of Alkeus Pharmaceuticals, which would add ALK-001, an investigational once-daily oral therapy targeting Stargardt disease, an inherited retinal condition. The company said it priced a $125 million private placement financing to support the deal.

The company separately completed the acquisition of iRenix Medical, adding IRX-101, an investigational ocular antiseptic in development to reduce pain and corneal toxicity associated with intravitreal injections. A Phase 3 trial for IRX-101 is anticipated to begin in the first half of 2027.

Tarsus also said enrollment is complete for its Phase 2 Calliope trial evaluating TP-05, an oral formulation designed to prevent Lyme disease transmission, with topline data expected in the first half of 2027.