Tarsus Pharmaceuticals, Inc 8-K/A, filed Oct 13, 2026

Tarsus Pharmaceuticals, Inc. (TARS)

8-K/A 2026-10-13 For: 2026-09-04

View Original

Added on October 13, 2026

About this 8-K/A

Tarsus Pharmaceuticals, Inc filed this 8-K/A on October 13, 2026, reporting on events of September 4, 2026.

Items reported

Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 par value per share	TARS	The Nasdaq Global Market LLC (Nasdaq Global Select Market)



Exhibit No.									Description
23.1									Consent of PricewaterhouseCoopers LLP.
99.1									Audited consolidated financial statements of Alkeus Pharmaceuticals, Inc. as of September 30, 2025 and 2024 and for the fiscal years ended September 30, 2025 and 2024.
99.2									Unaudited consolidated financial statements of Alkeus Pharmaceuticals, Inc. as of June 30, 2026 and 2025 and for the nine months ended June 30, 2026 and 2025.
99.3									Unaudited pro forma financial information as of and for the six months ended June 30, 2026 and for the year ended December 31, 2025.
104									Cover Page Interactive Data File (embedded within XBRL document)


	Tarsus Historical		Alkeus Historical		Reclassification Adjustments		Notes	Financing Adjustments (Note 1)		Merger Transaction Accounting Adjustments		Notes	Pro Forma Combined
ASSETS
Current assets:
Cash and cash equivalents	$	204,595	$	48,745	$	—		$	119,000	$	(245,828)	3(a), 3(b)	$	126,512
Marketable securities	245,095		—		—			—		—			245,095
Accounts receivable, net	96,028		—		—			—		—			96,028
Inventory	4,377		—		—			—		—			4,377
Other receivables	2,281		—		—			—		—			2,281
Prepaid expenses and other assets	9,613		927		—			—		—			10,540
Total current assets	561,989		49,672		—			119,000		(245,828)			484,833
Restricted cash, non-current	2,001		—		381		2(f)	—		—			2,382
Inventory, non-current	2,525		—		—			—		—			2,525
Property and equipment, net	20,489		258		—			—		—			20,747
Intangible assets, net	6,885		—		—			—		—			6,885
Operating lease right-of-use assets	9,911		696		—			—		—			10,607
Long-term investments	6,682		—		—			—		—			6,682
Other assets	660		381		(381)		2(f)	—		—			660
Total assets	$	611,142	$	51,007	$	—		$	119,000	$	(245,828)		$	535,321
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	40,141	$	1,383	$	—		$	—	$	—		$	41,524
Accrued expenses	—		6,132		(6,132)		2(a), 2(b)	—		—			—
Accrued payroll and benefits	11,887		—		2,326		2(a)	—		9,103		3(c)	23,316
Operating lease liability, current portion	—		565		(565)		2(c)	—		—			—
Other accrued liabilities	123,725		—		4,371		2(b), 2(c)	—		24,811		3(a), 3(b)	152,907
Total current liabilities	175,753		8,080		—			—		33,914			217,747
Long-term debt, net	72,762		—		—			—		—			72,762
Operating lease liability, net of current portion	—		185		(185)		2(e)	—		—			—
Other liabilities	—		1,160		(1,160)		2(d)	—		—			—
Contingent consideration	—		—		—			—		95,898		3(a)	95,898
Other long-term liabilities	15,895		—		1,345		2(d), 2(e)	—		—			17,240
Total liabilities	264,410		9,425		—			—		129,812			403,647
Commitments and contingencies								—		—
Redeemable convertible preferred stock
Series A Redeemable Convertible Preferred Stock	$	—	$	2,094	$	—		$	—	$	(2,094)	3(d)	$	—
Series B-1 Preferred Stock Convertible Preferred Stock	—		59,892		—			—		(59,892)		3(d)	—
Series B-2 Preferred Stock Convertible Preferred Stock	—		3,133		—			—		(3,133)		3(d)	—
Series B-3 Preferred Stock Convertible Preferred Stock	—		64,117		—			—		(64,117)		3(d)	—
Total redeemable convertible preferred stock	—		129,236					—		(129,236)			—
Stockholders’ equity:										—
Common stock	6		—		—			—		—			6
Additional paid-in capital	799,429		21,943		—			119,000		220,089		3(d)	1,160,461
Accumulated other comprehensive income (loss)	(557)		—		—			—		—			(557)
Accumulated deficit	(452,146)		(109,597)		—			—		(466,493)		3(d)	(1,028,236)
Total stockholders’ equity	346,732		(87,654)		—			119,000		(246,404)			131,674
Total liabilities, redeemable convertible preferred stock and stockholders’ equity	$	611,142	$	51,007	$	—		$	119,000	$	(245,828)		$	535,321


	Tarsus Historical		Alkeus Historical		Reclassification Adjustments		Notes	Merger Transaction Accounting Adjustments		Notes	Pro Forma Combined
Revenues:
Product sales, net	$	319,299	$	—	$	—		$	—		$	319,299
License fees and collaboration revenue	16,667		—		—			—			16,667
Total revenues	335,966		—		—			—			335,966

Operating expenses:
Cost of sales	21,509		—		—			—			21,509
Research and development	53,361		15,562		—			—			68,923
General and administrative	—		9,005		(9,005)		2(g)	—			—
Selling, general and administrative	287,126		—		9,005		2(g)	—			296,131
Total operating expenses	361,996		24,567		—			—			386,563
Loss from operations before other income (expense)	(26,030)		(24,567)		—			—			(50,597)

Other income (expense):
Interest income	$	7,420	$	1,043	$	—		$	—		$	8,463
Interest expense	(4,284)		—		—			—			(4,284)
Gain on exchange of long-term investments	2,812		—		—			—			2,812
Other income (expense), net	(368)		4		—			—			(364)
Total other income (expense), net	$	5,580	$	1,047	$	—		$	—		$	6,627
Provision for income taxes	(5,068)		—		—			—			(5,068)
Net loss	$	(25,518)	$	(23,520)	$	—		$	—		$	(49,038)
Net loss per share, basic and diluted	$	(0.59)								3(j)	$	(1.01)
Weighted-average shares outstanding, basic and diluted	43,176,514									3(j)	48,317,350


	Tarsus Historical Year Ended December 31, 2025		Alkeus Historical Year Ended September 30, 2025		Reclassification Adjustments		Notes	Merger Transaction Accounting Adjustments		Notes	Pro Forma Combined
Revenues:
Product sales, net	$	451,360	$	—	$	—		$	—		$	451,360
License fees and collaboration revenue	—		—		—			—			—
Total revenues	451,360		—		—			—			451,360

Operating expenses:
Cost of sales	30,684		—		—			—			30,684
Research and development	64,322		32,447		—			11,767		3(e), 3(f)	108,536
Acquired in-process research and development expense	—		—		—			567,845		3(g)	567,845
General and administrative	—		21,374		(21,374)		2(h)	—			—
Selling, general and administrative	427,323		—		21,374		2(h)	21,835		3(e), 3(f), 3(h)	470,532
Total operating expenses	522,329		53,821		—			601,447			1,177,597
Loss from operations before other income (expense)	(70,969)		(53,821)		—			(601,447)			(726,237)

Other income (expense):
Interest income	15,747		1,914		—			—			17,661
Interest expense	(8,935)		—		—			—			(8,935)
Other income (expense), net	(202)		133		—			—			(69)
Gain on initial consolidation of VIE	—		—		—			23,570		3(a)	23,570
Change in fair value of preferred stock tranche liability	—		1,950		—			(1,950)		3(i)	—
Total other income (expense), net	6,610		3,997		—			21,620			32,227
Provision for income taxes	(2,059)		—		—			—			(2,059)
Net loss	$	(66,418)	$	(49,824)	$	—		$	(579,827)		$	(696,069)
Net loss per share, basic and diluted	$	(1.59)								3(j)	$	(14.83)
Weighted-average shares outstanding, basic and diluted	41,784,014									3(j)	46,924,850


Shares of Tarsus common stock issued as share consideration	2,769,696
Price per share of Tarsus Common Stock (1)	$	83.21
Fair value of share consideration (2)	$	230,466
Cash consideration paid to selling shareholders (2)	238,202
Seller transaction costs paid by buyer	1,438
Deferred consideration - cash paid at closing for adjustment escrow (3)	5,000
Deferred consideration - option holder settlements (4)	14,853
Contingent consideration - Regulatory Milestone	45,500
Contingent consideration - First Commercial Sale	18,200
Contingent consideration - Sales Royalty Earnout	32,198
Preliminary fair value of consideration transferred	$	585,857


Assets	As of June 30, 2026
Cash and cash equivalents	$	48,745
Prepaid expenses	927
Property and equipment, net	258
Operating lease right of-use-assets	696
Restricted cash, non-current	381
Acquired IPR&D (1)	564,800
Acquired inventory	3,045
Total assets	618,852

Liabilities
Accounts payable	1,383
Accrued payroll and benefits	2,326
Other accrued liabilities	4,371
Other long-term liabilities	1,345
Total liabilities	9,425
Net assets acquired	609,427
Gain on initial consolidation of VIE	$	(23,570)


	Elimination of Alkeus historical equity		Consideration Transferred (1)		Gain on acquisition (2)		Buyer transaction expenses (3)		Acquired Inventory and IPR&D (4)		Stock Option Accelerations (5)		Merger Transaction Accounting Adjustments
Adjustments to preferred stock	$	(129,236)	$	—	$	—	$	—	$	—	$	—	$	(129,236)
Adjustments to additional paid-in capital	(21,943)		230,466		—		—		—		11,566		220,089
Adjustments to accumulated deficit	109,597		—		23,570		(11,146)		(567,845)		(20,669)		(466,493)
Net adjustment to redeemable preferred stock and stockholders' equity	$	(41,582)	$	230,466	$	23,570	$	(11,146)	$	(567,845)	$	(9,103)	$	(375,640)


	For the Six Months Ended June 30, 2026		For the Year Ended December 31, 2025
Pro forma net loss attributable to stockholders	$	(49,038)	$	(696,069)
Pro-forma weighted average shares outstanding - basic and diluted	48,317,350		46,924,850
Pro forma net loss per share - basic and diluted	$	(1.01)	$	(14.83)

Pro forma weighted-average shares - basic and diluted
Historical Tarsus weighted-average shares outstanding	43,176,514		41,784,014
Shares of Tarsus common stock issued to Alkeus stockholders pursuant to the Merger Agreement (1)	2,769,696		2,769,696
Shares of Tarsus common stock issued in connection with accelerated option awards (1)	138,996		138,996
Shares of Tarsus common stock issued for the Financing (1)	2,098,519		2,098,519
Shares underlying pre-funded warrants issued in connection with the Financing (1)	133,625		133,625
Pro forma weighted-average shares outstanding - basic and diluted	48,317,350		46,924,850