Tarsus Pharmaceuticals Inc. announced the proposal of a $100 million public offering of common stock after market close today.
The Irvine-based biopharmaceutical company said it intends to use proceeds from the offering to further advance commercialization of its eyedrop Xdemvy and the development of its other product pipelines.
The number of shares and pricing have not been announced yet.
Tarsus also said it intends to grant the underwriters a 30-day option to purchase up to an additional $15 million of shares.
Goldman Sachs & Co. LLC, BofA Securities, Barclays and Oppenheimer & Co. are acting as joint book-running managers for the offering.
After the announcement, shares fell 2.6% in after-hours trading to $45.89. They had closed at $47.10 and a $1.8 billion market cap during regular trading.
