Aug 12, 2026 · 6 min · 5 segments
Tarsus Pharmaceuticals enters into a definitive agreement to acquire Alkeus Pharmaceuticals; Harrow acquires dry eye disease nasal spray Tyrvaya from Viatris; and Italy-based Alfasigma enters into a…
Kendall O'ConnorHost
We begin with Tarsus Pharmaceuticals, which has entered into a definitive agreement to acquire Alkias Pharmaceuticals, maker of a late-stage treatment candidate for Stargardt disease.
Alkias is developing Gildaretinol, or ALK001, an investigational once-daily oral therapy for Stargardt disease.
The molecular entity is designed to reduce the accumulation of toxic dimers while preserving the normal visual cycle.
Gildaretinol is being evaluated in the ongoing Phase III North Star trial, with top-line results anticipated in the second half of 2029.
Under terms of the agreement, Tarsus will pay approximately $450 million upfront, consisting of $270 million in cash and $180 million in Tarsus common stock.
The deal also includes milestone payments of up to $350 million upon potential regulatory approval and first commercial sale, and low single-digit tier descending royalties as a percentage of Gilda Retinol net sales.
During Tarsus' second quarter earnings call, Chairman and CEO Dr. Bobby Azemian discussed the acquisition.
We are investing in assets with novel disease-modifying approaches, compelling clinical evidence, and a clear strategic fit to build a leading eye care company.
ALK001 is exactly that, as it has the potential to preserve vision for longer and become a foundational treatment for Stargardt disease.
This devastating inherited retinal disease often affects children and young adults, and today there are no FDA-approved treatment options.
It also broadens our presence in retina, one of the largest and most important specialties in eye care.
We've already begun building capabilities through our recent acquisition of IRX101 and aim to create a distinct portfolio positioned to address serious retinal diseases over time.
The pending transaction with Alkias has been approved by the boards of directors of both companies and the stockholders of Alkias and is expected to close this year.
The deal comes just a month after Tarsus announced it is acquiring Irenix Medical, maker of investigational ocular antiseptic.
We begin with Tarsus Pharmaceuticals, which has entered into a definitive agreement to acquire Alkias Pharmaceuticals, maker of a late-stage treatment candidate for Stargardt disease.
Alkias is developing Gildaretinol, or ALK001, an investigational once-daily oral therapy for Stargardt disease.
The molecular entity is designed to reduce the accumulation of toxic dimers while preserving the normal visual cycle.
Gildaretinol is being evaluated in the ongoing Phase III North Star trial, with top-line results anticipated in the second half of 2029.
Under terms of the agreement, Tarsus will pay approximately $450 million upfront, consisting of $270 million in cash and $180 million in Tarsus common stock.
The deal also includes milestone payments of up to $350 million upon potential regulatory approval and first commercial sale, and low single-digit tier descending royalties as a percentage of Gilda Retinol net sales.
During Tarsus' second quarter earnings call, Chairman and CEO Dr. Bobby Azemian discussed the acquisition.
We are investing in assets with novel disease-modifying approaches, compelling clinical evidence, and a clear strategic fit to build a leading eye care company.
ALK001 is exactly that, as it has the potential to preserve vision for longer and become a foundational treatment for Stargardt disease.
This devastating inherited retinal disease often affects children and young adults, and today there are no FDA-approved treatment options.
It also broadens our presence in retina, one of the largest and most important specialties in eye care.
We've already begun building capabilities through our recent acquisition of IRX101 and aim to create a distinct portfolio positioned to address serious retinal diseases over time.
The pending transaction with Alkias has been approved by the boards of directors of both companies and the stockholders of Alkias and is expected to close this year.
The deal comes just a month after Tarsus announced it is acquiring Irenix Medical, maker of investigational ocular antiseptic.
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