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Tarsus Pharmaceuticals Proposes Terms For $80 Million IPO

Tarsus Pharmaceuticals Proposes Terms For $80 Million IPO

Tarsus Pharmaceuticals (TARS) intends to raise $80 million in an IPO of its common stock, according to an S-1 registration statement.

Irvine, California-based Tarsus was founded to advance a portfolio of treatment options for various eye conditions caused by mites and other parasites.

Management is headed by co-founder, president and CEO Mr. Bobak Azamian, M.D., Ph.D., who has been with the firm since and was previously co-founder, CEO and CMO of Metavention, a company seeking to treat diabetes and other metabolic diseases.

Below is a brief overview video of Demodex Blepharitis:

Source: Nattawut Wanumkarng

The company’s lead candidate is TP-03, a treatment being developed for three indications related to the Demodex mite.

Management expects to provide top line data results for its Phase 2b/3 Saturn-1 trial in 2021, as well as initiate a Phase 3 Saturn-2 trial in 2021.

Below is the current status of the company’s drug development pipeline:

tarsuspipe

Source: Company S-1 Filing

Investors in the firm have invested at least $63.4 million and include Horowitz Limited Partnership, Vivo Capital, Flying L Investments, Frazier Life Sciences, Visionary Venture Fund, RTW Investments and Cormorant Asset Management.

According to a 2018 market research report by Transparency Market Research, the global incidence of patients with increased ocular disorders is increasing due to the rise in the elderly population.

In a recent survey report in the U.S., 37% – 47% of patients ‘were diagnosed with signs of blepharitis.’

Related conditions to blepharitis include acne rosacea, Lyme disease and malaria, all areas in which the firm is pursuing treatments.

However, drugs with significant side effects or lengthy procedures can hamper market adoption.

Major competitive vendors that provide or are developing treatments include:

  • Azura Ophthalmics
  • Aperta Biosciences
  • Eyevance Pharmaceuticals
  • Formosa Pharmaceuticals
  • Hovione Scientia
  • Nicox SA (NICXF)
  • Novaliq GmbH
  • Premark Pharma
  • Quorum Innovations

Tarsus’s recent financial

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Auto Experience, Inc. Proposes To Acquire Auto Finance Firm Consumer Portfolio Services For $135 Million In Cash

Auto Experience, Inc. Proposes To Acquire Auto Finance Firm Consumer Portfolio Services For $135 Million In Cash

DALLAS, Oct. 8, 2020 /PRNewswire/ — Auto Experience, Inc., created in 2018 to pursue strategic business opportunities in the automobile financing market, today announced it has informed the board of directors of Consumer Portfolio Services, Inc. (Nasdaq: CPSS) of its interest in acquiring the company in an all-cash transaction valued at $135 million.  An acquisition at that price would nearly double the current value of the Nasdaq-listed company.

Based in Irvine, Calif., Consumer Portfolio Services (CPS) is an independent specialty finance company that provides indirect automobile financing to consumers.  In an October 7, 2020 letter to the company formally conveying an “indication of interest,” Auto Experience said it proposes to acquire CPS for approximately $6.18 per share of common stock.  CPS shares closed at $3.35 on October 7, 2020.

In its letter to CPS, Auto Experience said it would add value to the company and its shareholders by re-engineering aspects of CPS’s operations, applying proprietary technology and enhanced digital capabilities as the market increasingly shifts online, and employing a combination of existing resources and new leadership steeped in automobile financing and digital commerce.

“Acquiring Consumer Portfolio Services and leveraging our strategic and operational experience in auto financing and enterprise technology will create a strong national player that already has a toe-hold in more than 8,000 automobile dealerships across the U.S.,” said Samuel M. Ellis, president and chief executive officer of Auto Experience.  “CPS is significantly undervalued based on a range of performance measures and upside growth opportunities, and we believe our proposed acquisition would be materially beneficial to shareholders and, over the longer run, to consumers and dealers.”

Mr. Ellis brings deep entrepreneurial and operating experience in automobile financing and digital commerce to this opportunity.  In addition to his leadership of Auto Experience, which is

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