Tarsus Pharmaceuticals, Inc.

Hello and welcome to Tarsus Pharmaceuticals' second quarter 2026 financial results conference call and announcement to acquire Alkias Pharmaceuticals. As a reminder, this call is being recorded and all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. At this time, I would like to turn the call over to Sarah Knives, Investor Relations, to lead off the call.

Thank you. Before we begin, I encourage everyone to visit the Investors section of the TARCIS website to view the press releases issued today and related materials we will be discussing today. Joining me on the call are Bobak Azamian, our Chief Executive Officer and Chairman, Mira Clates, our Interim Chief Commercial Officer, Seshadri Neervannan, our Chief Operating Officer, and Jeff Farrow, our Chief Financial Officer and Chief Strategy Officer. and joining us for Q&A is Dr. Liz Yeu, our Chief Medical 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 details. With that, I'll turn the call over to Bobby.

Hello, and thank you for joining us. Today is an important day for Tarsus. We're reporting another exceptional quarter for Extenvi in announcing the acquisition of Alceus Pharmaceuticals and Gilder Retinol, or ALK001, a late-stage investigational therapy for Stargardt disease. When we launched Xtemvi, we believed deminexliferitis, or DB, was one of the largest diseases in eye care, hiding in plain sight. Our ambition was never simply to commercialize a single medicine. It was to demonstrate that by identifying diseases that have been overlooked for years, creating categories, developing medicines with the potential to redefine the standard of care, and executing with excellence, we could fundamentally change patient care while building a leading eye care company. Extenby continues to prove that thesis. Nearly three years after launch, more than 700,000 patients have been treated. Extenby has generated almost $1 billion in net product sales reported to date, and we are well on our way to over $2 billion in potential annual peak sales. This quarter alone, Extenby generated approximately $174 million in net product sales, representing more than 69% year-over-year growth. Extenvi has never been stronger, and we believe we are still in the early stages of realizing its full commercial opportunity. What's more, Extenvi is powering innovation at Tarsus, and that's precisely why we have the confidence to make strategic investments like the one we are announcing today. We are investing in assets with novel disease-modifying approaches, compelling clinical evidence, and a clear strategic fit to build a leading eye care company. ALK001 is exactly that, as it has the potential to preserve vision for longer and become a foundational treatment for Stargardt disease. This devastating inherited retinal disease often affects children and young adults, and today there are no FDA-approved treatment options. It also broadens our presence in retina, one of the largest and most important specialties in eye care. We've already begun building capabilities through our recent acquisition of IRX101 and aim to create a distinct portfolio positioned to address serious retinal diseases over time. I would like to take a moment and thank the Altheus team for all their passion and commitment in developing ALK001, a truly novel medicine. To date, they have developed one of the most robust clinical data sets. and we believe ALK001 has the potential to preserve vision longer in patients suffering from Stargardt disease. Xtemvi remains the cornerstone from which we're building a leading eye care company, one with the capability, pipeline and innovation to repeatedly bring meaningful medicines to patients. And with today's announcement, we took an important step on this journey. This acquisition is expected to build upon the commercial success of Xtemvi and with the addition of ALK001, create one of the most exciting pipelines in eye care and beyond. One that is positioned to deliver multiple potential blockbuster medicines over the next several years. Before I turn the call over, I would like to welcome Neera Klase, our Interim Chief Commercial Officer, to her first earnings call. Neera has been instrumental in building our commercial organization and ensuring the ongoing success of Extenvi and we are thrilled to apply her leadership and expertise to this new chapter. Neera, over to you.