Tarsus Pharmaceuticals Inc.
TARS,
-16.69%
said Monday that a Phase 2b/3 clinical trial evaluating an experimental treatment for a type of ocular disease met the study's primary and secondary endpoints. However, the stock was down 15.3% in trading on Monday afternoon. Tarsus is testing the investigational ophthalmic solution in patients with Demodex blepharitis. The company said in a news release that millions of people have been diagnosed with this eye disease, and there are currently no approved treatments in the U.S. Tarsus plans to submit data from this study in a new drug application to the Food and Drug Administration sometime next year. Tarsus shares are down 28.5% this year, while the broader S&P 500
SPX,
+1.40%
is up 10.9%.