Shearman & Sterling advised the underwriters of Tarsus Pharmaceuticals’ initial public offering of 6,325,000 shares of common stock at a public offering price of $16 per share, resulting in gross proceeds to the Company of approximately $101.2 million, before deducting underwriting discounts and commissions and offering expenses. The 6,325,000 shares included 825,000 of shares issued pursuant to the underwriters’ option to purchase additional shares. The shares began trading on the NASDAQ Global Select Market under the ticker symbol “TARS” on October 16, 2020.
BofA Securities, Jefferies and Raymond James acted as joint lead book-running managers for the offering and LifeSci Capital and Ladenburg Thalmann acted as co-managers.
Tarsus Pharmaceuticals is a late clinical-stage biopharmaceutical company focused on the development and commercialization of therapeutic candidates to address large market opportunities, initially in ophthalmic conditions, where there are limited treatment alternatives. It is advancing its pipeline to address several diseases across therapeutic categories including eye care, dermatology, and other diseases with high, unmet needs.