Tarsus Pharmaceuticals, Inc.

Good morning, and welcome to Tarsus' fourth quarter and year-end 2023 Financial Results Conference call. As a reminder, this call is being recorded. At this time, I would like to turn the call over to David Naxoni, Head of Investor Relations, to lead off the call. Please begin.

Thank you. Before we begin, I encourage everyone to go to the Investor section of the Tarsus website to view the earnings release and related materials we will be discussing today. Joining me on the call this morning are Bobby Azamian, our Chief Executive Officer and Chairman, Aziz Motawala, our Chief Commercial Officer, Sesha Nirvana, our Chief Operating Officer, and Jeff Barrow, our Chief Financial and Chief Strategy Officer. I'd like to draw your attention to slide three, which contains our forward-looking statements. During this call, we will be making forward-looking statements that are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties, and our actual results may differ materially. I encourage you to consult the risk factors contained in our SEC filings for additional detail. With that, I would like to turn the call over to Bobby.

Thank you, Dave. Good morning, everyone, and thank you for joining us on the call today. 2023 was a defining and foundational year for Tarsus, as we successfully started our next chapter as a commercial company. We made significant progress on several programs in our pipeline and, most importantly, launched our first commercial product, xDEMBI. the first and only FDA-approved treatment for demonex blepharitis. Since its launch in late August, we have seen tremendous demand and growing uptake of Xtemvi among eye care professionals, or ECPs, and demonex blepharitis patients who have long awaited an effective treatment for this damaging and impactful eyelid disease. Today, I am pleased to report on the great progress made in Xtemvi's first full quarter in the marketplace as we continue to reach patients affected by this disease. For the full year 2023, we reported nearly $15 million in net product sales and delivered more than 17,400 bottles of Xtemvi to patients. These are impressive early numbers, exceeding even our own expectations. Throughout the fourth quarter of 2023 and early weeks of 2024, Xtemvi has continued to solidify its place as an innovative, category-creating therapeutic. Diagnosed patients with demonex blepharitis, or DB for short, have driven initial demand for Xtemvi, and we expect this to continue as we work to reach the 1.5 million patients in the U.S. who were already diagnosed prior to the approval of Xtemvi. In parallel, we are seeing early signals that we are reaching the next wave of DB patients proactively visiting ECPs for complementary eye conditions, such as dry eye disease, cataracts, and patients who struggle to maintain their use of contact lenses. We estimate that these groups make up a significant portion of the more than 7 million patients currently visiting the ECPs who we aim to reach with Xtemvi, and we are already seeing increasing use across all these patient segments. This traction is attributed to the tremendous strides we've made with ECPs over the last couple of years. We've engaged with all of our 15,000 target ECPs. More than a third have written at least one dispensed prescription, and more than half have become repeat prescribers who see the clear benefit of Extenvi and are taking action to help their patients find relief. Just this past weekend, we met with many of the top surgeons at the American European Congress of Ophthalmic Surgery, or ACOS for short, and we heard very consistent and positive feedback about their experiences with XtemV and, more importantly, the benefits their patients are experiencing. Our focus for 2024 is serving more ECPs and more patients. We expect to accelerate XtemV's reach by adding to the base of current prescribers, increasing the number of prolific riders, and working with payers to secure broad coverage. In fact, our improving growth to net underscores the strong traction we've already made with payers in just the first few months of launch. We are delivering on the high expectations we set for ourselves and look forward to making even more progress throughout the year. I am also proud of our continued pipeline progress as we work to bring more new categories of therapeutics to patients with meibomian gland disease, rosacea, and Lyme disease prevention. Finally, I would like to thank all Tarsens for their incredible contributions, relentless execution, and passion for serving patient needs. Together, we look forward to serving countless more patients and advancing additional category-creating medicines. And with that, I will turn the call over to our Chief Commercial Officer, Aziz Motawala, for more on the strong launch of Extendi. Thanks, Bobby.