IRVINE, Calif.—Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), which addresses patient needs starting with eyecare through the application of proven science and new technology, announced a net loss of $22.5 million for third quarter ended Sept. 30, 2022, up from $15.7 million for the same period in 2021. Third quarter R&D expenses for 2022 were $10.9 million, including stock-based compensation of $1.0 million, compared to $10.2 million for the year-ago period. Third quarter general and administrative expenses for 2022 were $12.0 million, including stock-based compensation of $2.6 million, compared to $6.7 million for year-ago.

Third quarter 2022 license fee and collaboration revenue, as part of the strategic partnership with LianBio, was $0, compared to $1.2 million for the same period in 2021.

As of Sept. 30, 2022, Tarsus Pharmaceuticals reported $226.6 million in cash, cash equivalents and marketable securities. The company anticipates $30 million in expected milestones through 2024 from a China out-license, with $10 million in December 2022 and $5 million in first quarter, 2023. A cash runway is expected into at least 2026, the company said.

“During 2022, we moved significantly closer to delivering a new potential drug to millions of patients suffering from one of the most common eye diseases, Demodex blepharitis. The NDA acceptance for TP-03 is a critical milestone for Tarsus, patients and the eyecare professionals who treat them as we move closer toward potential commercialization,” said Bobak Azamian, MD, PhD, president and chief executive officer of Tarsus.

The company, which is advancing its pipeline to address several diseases with unmet need across a range of therapeutic categories, including eyecare, dermatology and infectious disease prevention, reiterated that its new drug application (NDA) for TP-03 had been accepted by the U.S. Food and Drug Administration. TP-03 is indicated for the treatment of Demodex blepharitis.