Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS) today announced that a $15 million milestone payment due Tarsus has been achieved following regulatory approval of TP-03 (lotilaner ophthalmic solution) 0.25%, marketed as XDEMVY® in the U.S., by the National Medical Products Administration (NMPA) of the People's Republic of China.

The approval was obtained by Grand Pharmaceutical Group Limited ("Grand Pharma"), Tarsus' exclusive partner for the development and commercialization of TP-03 for the treatment of Demodex blepharitis in the Greater China region, which includes the People's Republic of China, Hong Kong, Macau and Taiwan.