Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) said before the market opened on July 25, 2023, the FDA approved its lotilaner ophthalmic solution to treat Demodex blepharitis, making the drug the first and only FDA-approved treatment to target Demodex mites.
Anterior Demodex blepharitis is an infestation of the eyelashes brought on by mites that settle within the hair follicles on skin near the eyes and often results in dry eye. Lotilaner is an anti-parasitic medicine used to treat mange in pets. Tarsus tested lotilaner ophthalmic solution (0.25%) as TP-03. The drug will be launched under the brand name Xdemvy.
SanaCurrents issued a report on the TP-03 PDUFA catalyst in December 2022 when Tarsus’s stock traded at $14.93 per share. Shares of Tarsus were trading between approximately $18 per share and $21 per share during the morning of July 25, reflecting a minimum return of about 20% from the time of the SanaCurrents report. The company’s stock closed at $23.99 per share on July 24.
In June 2021, SanaCurrents forecast a positive outcome for the phase IIb/III trial of TP-03. After Tarsus reported positive data for the trial two months later, the SanaCurrents catalyst return was 8.7%.