Tarsus Pharmaceuticals dips on planned $100 million equity raise

Tarsus Pharmaceuticals' TARS.O shares fall 1.8% to $46.25 in extended trade

Co announces commencement of proposed $100 million public offering

TARS plans to use the proceeds to boost the commercialization of its drug XDEMVY and to develop its product pipeline, among other purposes

Goldman Sachs, BofA Securities, Barclays and Oppenheimer are the joint book-running managers for the offering

TARS had ~38.3 million shares outstanding as of December 31, giving it a $1.8 billion market cap

As of last close, TARS stock down 14.9% YTD, after more than doubling in 2024