BUZZ-Tarsus falls after short seller flags concerns over eye drug

Tarsus Pharmaceuticals, Inc.

Tarsus Pharmaceuticals, Inc.

TARS

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** Shares of drugmaker Tarsus Pharmaceuticals TARS.O fall 7.2% to $58.39

** Short seller Culper Research says it is short TARS, alleging growth of its eye drug Xdemvy has relied on patient-assistance practices that raise regulatory concerns

** Xdemvy is TARS’ only commercial product and is used to treat demodex blepharitis, an eyelid condition linked to mites

** Culper also questions TARS’ market-size estimates for XDEMVY, saying the drug’s addressable market is far smaller than the company claims

** Report says Xdemvy revenue could peak below $800 mln, compared with TARS' stated path to more than $2 bln in sales potential

** Including session's move, TARS down 28.1% YTD