Tarsus Pharmaceuticals, Inc. executed a $175 million credit facility with Hercules Capital, Inc. and Silicon Valley Bank. Availability under this credit facility potentially extends cash runway well into the anticipated commercialization of TP-03. The $175 million is available as follows: $40 million at closing with $20 million drawn, $25 million at TP-03 NDA submission, $35 million at TP-03 FDA approval, and $75 million upon achievement of certain revenue thresholds and other conditions.

The interest-only period is four years and is extendable to five years upon meeting certain conditions.