Tarsus Pharmaceuticals Inc Q2 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Tim Lugo - William Blair & Company - Analyst : Thanks for taking the question and congratulations on a great quarter. Given the strong performance in the quarter and all clarity around GTN and borrows expense expected in Q3. I just want to hear your thoughts around what I see as consensus of about $38.8 million or $39 million for Q3. You don't need to give exact guidance, obviously, but I'd love to hear your thoughts around consensus in Q3 and maybe even how it looks for Q4 as well.

Question: Tim Lugo - William Blair & Company - Analyst : That's fine. I understand. Maybe also, can you just broadly talk about when Medicare kicks in, in 2025, given all the granulation on GTN in 2024, directionally, is it probably going GTN maybe take the hit due to Medicare, but obviously, the volumes should be at a much higher level. Can you just directionally speak to that?

Question: Tim Lugo - William Blair & Company - Analyst : All right. Thank you so much.

Question: Pavan Patel - BofA Securities - Analyst : Hey, guys. This is Pavan on for Jason Gerberry. Two questions from us. Firstly, appreciate the commentary for full year 2024 gross net discounts. I was wondering if the longer-term gross net discounts you expect to be a steady state here at the low 40s or is it likely to evolve as payer mix changes and you gain further coverage in 2025 and beyond? And then my second question is regarding your DTC efforts. So when do you kick those off, and how soon would you expect to see benefit from that in patient uptake? Thank you.

Question: Dennis Kennedy - LifeSci Capital LLC - Analyst : Hey. This is Dennis on for Cory. Congrats on the quarter and thank you for taking our question. As we near 2025 and we start to think about kind of the retreatment dynamics here, do you have any indication as to which patient profile is more likely to experience reinfestation that calls for retreatment? And in your view, kind of what percent of DB patients will ultimately require one or more courses of extended long-term?

Question: Frank Brisebois - Oppenheimer Holdings Inc - Analyst : Thanks for the question and congrats on the quarter. I was just wondering, in terms of practices, is it a question of, I'm sure at first there's some practices where physicians were a little more skeptical at first, and then so maybe they try one patient or two patients and see how it works. Is it one of those situations where all of a sudden they are convinced that this is working and they just switch the entire practice to say, hey, make sure you look for these in the foot lamp on every patient or is it more of a progressive, let's wait and see on, the patient feedback and it's more the patient starting the conversation? Just what are the dynamics there? Thank you.

Question: Frank Brisebois - Oppenheimer Holdings Inc - Analyst : Are you getting any doctors that are admitting that maybe they weren't looking correctly in the past or is that not coming up with the physicians?

Question: Frank Brisebois - Oppenheimer Holdings Inc - Analyst : That's it for me. Thank you very much and congrats on a great quarter.

Question: Michaela Diverio - Barclays - Analyst : Hi. This is Michaela on for Balaji. Thanks for taking our questions. Just wondering, of the 11,000 prescribers you called out, are you able to actually quantify the portion -- the proportion that fall into the three buckets you called out? So how looking -- looking to understand how many are early adopters versus newer to DB at this point? Thanks.

Question: Eddie Hickman - Guggenheim Securities LLC - Analyst : Hey. Good afternoon and congrats on the great quarter. Thanks for taking my question. So I appreciate the added color on the third quarter and fourth quarter dynamics in terms of bottle growth. But I'm wondering if you could help us think about 2025 and what the bottle growth should look like with the fully deployed sales force and DTC. It sounds like 4Q is going to be pretty strong. So I'm wondering, like, how many quarters beyond that do you expect that level of growth before it steadies out? And then on the summer holiday slowdown, like, is that unique to this early part of the launch or do you think that to be an annual pattern? Thanks.