Tarsus rises as China approval unlocks $15 million milestone for eye drug

Shares of drugmaker Tarsus Pharmaceuticals TARS.O rise 3.5% to $62.25

Co says it will receive $15 mln milestone payment, after partner Grand Pharmaceutical Group wins Chinese approval for eye drug TP-03

The drug, sold as Xdemvy in U.S., is approved in China to treat Demodex blepharitis, an eyelid condition caused by tiny mites that leads to itching and irritation

Co says the drug is the first approved treatment for the disease in China

Grand Pharma holds exclusive rights to develop and sell the drug in Greater China, including mainland China, Hong Kong, Macau and Taiwan

Tarsus says over 40 mln people in the region are affected; co is also eligible for further regulatory and sales milestones and future royalties

Shares up ~49% in 2025