Tarsus Pharmaceuticals to acquire Alkeus Pharmaceuticals for up to $800 million

M&A · Partnership
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Tarsus Pharmaceuticals has entered into a definitive agreement to acquire Alkeus Pharmaceuticals for up to $800 million, including upfront and milestone-based payments tied to regulatory and commercial achievements. Alkeus' lead candidate, Gildeuretinol, is an investigational once-daily oral therapy in Phase 3 development for Stargardt disease, a rare inherited retinal disorder with no FDA-approved treatment that affects more than 36,000 people in the U.S. The pivotal Phase 3 NORTHSTAR trial is expected to deliver top-line results in the second half of 2029, and the program has received Breakthrough Therapy, Orphan Drug, and Rare Pediatric Disease designations from the FDA. The acquisition, which is expected to close in 2026 subject to customary conditions, builds on Tarsus' recent acquisition of iRenix Medical and its investigational program IRX-101, further strengthening the company's pipeline across eye care. Tarsus stock closed Wednesday at $61.29, up 0.29%, and was down 3.02% in pre-market trading.

Impact on stocks 1

Health Care▼ · 1 stocks

Theme Impact 1

Off-coverage companies 2

Alkeus Pharmaceuticals, Inc.Private▲ Positive
Capitalrelevance

Alkeus to be acquired for up to $800M, providing value to shareholders.

iRenix MedicalPrivate± Mixed
relevance

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