On September 4, 2026, Tarsus Pharmaceuticals completed its acquisition of Alkeus Pharmaceuticals. The Company paid $270 million in upfront cash and issued approximately 2.91 million shares to Alkeus equityholders. Future consideration includes up to $350 million in milestone payments ($250 million for US regulatory approval; $100 million upon first US sale) and tiered revenue sharing based on gildeuretinol net sales. The acquisition adds worldwide rights to ALK-001 (gildeuretinol), an investigational oral treatment for Stargardt disease currently in Phase 3 trials with topline data expected in 2029. Tarsus Pharmaceuticals operates as a biopharmaceutical company focused on eye care, dermatology, and infectious disease prevention.
