TARS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• In December 2025, we initiated a Phase 2 clinical trial (the “KORE Trial”) evaluating TP-04, a lotilaner-based sterile ophthalmic gel formulation for the potential treatment of ocular rosacea. The KORE Trial continues to progress, with topline results expected in the first half of 2027.

• In March 2026, we initiated a Phase 2 clinical trial (the “Calliope Trial”) evaluating TP-05, a novel investigational lotilaner-based oral prophylactic designed to kill ticks before potential disease transmission. Topline results are expected in the first half of 2027, which we believe will have the…

• •XDEMVY continues to be one of the best-selling prescription eye drops.

• ◦During the first quarter of 2026, recognized $145.4 million in net product sales, a year-over-year increase of more than 85%.

• ◦Continued depth of prescribing as eye care professionals (“ECPs”) broaden screening and treatment across a wider range of patients.

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• •XDEMVY is continuing on a strong growth trajectory. During the third quarter of 2025, the Company:

• ◦Recognized $118.7 million in net product sales, an increase of approximately 147% year over year.

• ◦Obtained broad, high quality coverage, with more than 90% of commercial, Medicare and Medicaid lives covered leading to a gross-to-net discount of 44.7%.

• •We are two years into launch and believe we are fundamentally changing how eye care professionals (“ECPs”) diagnose and treat Demodex blepharitis.

• ◦More than 20,000 ECPs have written multiple prescriptions reflecting growing confidence and the consistent integration of XDEMVY into clinical practice.

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Our management carried out an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exc…

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• Our management carried out an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exc…

• disclosure controls and procedures were effective to provide reasonable assurance that information we are required to disclose in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms, an…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• We currently rely, and for the foreseeable future will continue to rely, in substantial part on certain third-party contract organizations, advisors and consultants to provide certain services, including assuming substantial responsibilities for the conduct of our clinical trials and the manufacture…

• third-party contract organizations, advisors and consultants will continue to be available to us on a timely basis when needed, or that we can find qualified replacements. In addition, if we are unable to effectively manage our outsourced activities or if the quality or accuracy of the services prov…

• our operations to third parties, and as a result we manage a number of third-party contractors who have access to our confidential information.

• Despite the implementation of security measures, given their size and complexity and the increasing amounts of confidential information that they maintain, our internal information technology systems and those of our third-party CROs, contract manufacturing organizations (“CMOs”), and other contract…

• While we have not experienced any such system failure, accident or security breach to date, we cannot assure you that our data protection efforts and our investment in information technology and cybersecurity will prevent significant breakdowns, data leakages, breaches in our systems or other cyber …

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• We currently rely, and for the foreseeable future will continue to rely, in substantial part on certain third-party contract organizations, advisors and consultants to provide certain services, including assuming substantial responsibilities for the conduct of our clinical trials and the manufacture…

• Despite the implementation of security measures, given their size and complexity and the increasing amounts of confidential information that they maintain, our internal information technology systems and those of our third-party CROs, contract manufacturing organizations (“CMOs”), and other contract…

• While we have not experienced any such system failure, accident or security breach to date, we cannot assure you that our data protection efforts and our investment in information technology and cybersecurity will prevent significant breakdowns, data leakages, breaches in our systems or other cyber …

• healthcare programs, imprisonment, other sanctions, contractual damages, reputational harm, future earnings and curtailment of our operations, any of which could adversely affect our ability to operate our business and our results of operations.

• Unfavorable global and geopolitical economic conditions could adversely affect our business, financial condition or results of operations.

Text added vs the prior filing · source: 10-Q · 2026-05-06

• On March 2, 2026, Katherine Goodrich, a member of our Board of Directors, adopted a Rule 10b5-1 trading plan to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The plan provides for the sale of up to 5,187 shares of common stock held by Ms. Goodrich between June 12, 2026 an…

• During the quarter ended March 31, 2026, none of our other officers or directors, as defined in Rule 16a-1(f), informed us of an adoption or termination of a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement, each as defined in Regulation S-K Item 408.

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• In December 2024, Bobak Azamian, our Chief Executive Officer, adopted a Rule 10b5-1 trading plan to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The plan provides for the sale of up to 24,000 shares of common stock held by Dr. Azamian between March 24, 2025 and March 23,…

• In September 2025, Dianne Whitfield, our Chief Human Resources Officer, adopted a Rule 10b5-1 trading plan to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The plan provides for the sale of up to 57,925 shares of common stock held by Ms. Whitfield between December 16, 202…

• In September 2025, William Link, a member of our Board of Directors, adopted a Rule 10b5-1 trading plan to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The plan provides for the sale of up to 50,000 shares of common stock held by Dr. Link between December 15, 2025 and De…

• During the quarter ended September 30, 2025, none of our other officers or directors, as defined in Rule 16a-1(f), informed us of an adoption or termination of a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement, each as defined in Regulation S-K Item 408.