Tar­sus to raise $75.6M for re­pur­posed dog drug that's head­ed to FDA af­ter eye drop's PhI­II win

Tar­sus Phar­ma­ceu­ti­cals will ship its eye drop off to the FDA be­fore year’s end in the hopes of se­cur­ing the first reg­u­la­to­ry nod for a treat­ment for De­mod­ex ble­phar­i­tis, or eye­lid mange, af­ter a Phase III da­ta drop Mon­day and said it will seek $50 mil­lion in a pub­lic of­fer­ing to fu­el it.

The biotech up­sized the pub­lic of­fer­ing to $75.6 mil­lion on Tues­day. The com­pa­ny lost 23.5% of its stock $TARS val­ue by the clos­ing bell on Mon­day, slip­ping to $14 per share.

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