Tarsus Pharmaceuticals prices $125 million private placement financing

Tarsus Pharmaceuticals, Inc. (Nasdaq: TARS) announced on August 6, 2026 that it had signed a securities purchase agreement covering a private placement of stock and warrants, with the deal expected to bring in roughly $125.0 million in gross proceeds before placement agent fees and other private placement expenses.¹

The agreement was dated August 5, 2026 and calls for Tarsus to sell 2,098,519 shares of common stock at $56.00 per share, along with pre-funded warrants to purchase 133,625 additional shares at $55.9999 per warrant.¹ The pre-funded warrants carry an exercise price of $0.0001 per share.¹

The company said the financing includes participation from existing Alkeus Pharmaceuticals investors, including TCGX, Bain Capital Life Sciences, and Wellington Management,¹ and noted it had separately announced a pending acquisition of Alkeus in a press release the same day.¹ Additional investors in the placement include new and existing Tarsus backers such as ADAR1 Capital Management, Sirenia Capital Management LP, RTW Investments, and Vestal Point Capital.¹

The financing is expected to close on August 7, 2026, subject to customary closing conditions.¹ Tarsus said it intends to use the net proceeds to fund clinical development and commercial activities and for other general corporate purposes.¹

Barclays is serving as lead placement agent, with BofA Securities and William Blair acting as co-placement agents.¹ Under the terms disclosed in the filing, Tarsus and its directors and officers agreed to a 90-day lock-up restricting further share sales or registration filings without majority investor consent.¹ The company also agreed to file a registration statement covering resale of the securities tied to the timing of its pending merger with Alkeus Pharmaceuticals, Inc.¹