Tarsus Pharmaceuticals Inc. led a strong second-quarter earnings season for local healthcare companies, posting a 69% jump in product sales to $174 million.

Revenue, driven by a doubling in weekly Xdemvy prescribers, topped the $167.33 million consensus estimate, the Irvine company reported on Aug. 6, prompting it to raise its annual guidance between $685 million to $705 million, up from between $670 million to $700 million.

The biopharmaceutical company also told investors it is expanding its product pipeline with the acquisition of Alkeus Pharmaceuticals Inc. for up to $800 million. The Cambridge, Massachusetts-based company is developing an investigational oral treatment for Stargardt disease, a rare genetic disorder of the retina that causes irreversible, progressive vision loss in children and adults. There is currently no FDA-approved treatment for the disease. The treatment is in Phase 3 trials.

The deal is expected to close later this year.

“Xdemvy is powering innovation at Tarsus, and that’s precisely why we have the confidence to make strategic investments like the one we are announcing today,” Tarsus Chief Executive Bobak “Bobby” Azamian said during the company’s earnings call.

The pending Alkeus deal comes one month after Tarsus closed its acquisition of iRenix Medical Inc. for $75 million, adding an eye antiseptic used before retinal injections to its portfolio.

Evolus Pushes Into Global Markets
Newport Beach-based aesthetics company Evolus Inc. also beat expectations, with second-quarter revenue increasing 21% to $84.1 million, above analysts’ $81.9 million estimate.
The revenue beat caused shares to rise 20% to $7.41 and a $490 million market cap the day after earnings.

Evolus raised its full-year revenue outlook to $330 million to $337 million, up $3 million on the low end.

During the second quarter, Evolus launched its Estyme injectable hyaluronic acid gels in Europe and recently expanded its partnership with Symatese to bring the collection to Canada, Australia and New Zealand.

Evolus also announced a partnership with Swiss pharmaceutical company IBSA to develop and commercialize in the U.S. Profhilo, an injectable skin treatment that stimulates collagen production.

“Profhilo is an asset we’ve been actively pursuing because it represents the gold standard in the rapidly emerging skin quality category,” David Moatazedi, CEO of Evolus, told analysts in an earnings call.

Moatazedi said Profhilo could generate more than $100 million in peak annual revenue with anticipated U.S. commercialization in 2030.

CareTrust Invests Record $900M in Q2
San Clemente-based healthcare real estate investor CareTrust REIT Inc. had a record second quarter for investments, deploying nearly $900 million.

The company most recently closed on two transactions totaling in $291 million, including a 16-property care home in the UK and two senior housing communities in the U.S.
CareTrust has invested $1.5 billion year-to-date with $540 million left in potential transactions.

Funds from operations (FFO), a key metric for REITS, was $119.7 million, or 51 cents per share—representing a 19% increase from the year prior.

The company raised normalized FFO guidance to $2.03 to $2.06 per share, up from its previous range of $2 to $2.04.

RxSight Withdraws Guidance
Meanwhile, RxSight Inc. reported its first earnings under new CEO Aziz Mottiwala, the former Tarsus chief commercial officer who came on board to replace Dr. Ron Kurtz in July.
In connection with the leadership change, RxSight withdrew its 2026 financial outlook and said it plans to resume formal guidance in early 2027. Core product sales fell 19% to $27.2 million during the second quarter.

“While underlying trends remain generally consistent with our prior expectations, withdrawing 2026 guidance gives us the flexibility to establish the right operating plan and focus our resources on the core business, our pipeline and the Alcon collaboration,” Mottiwala said in a statement.

The company last month announced a partnership with Alcon, the largest eyecare company in the world, to develop adjustable IOLs to correct vision at multiple distances. Under the agreement, RxSight is receiving $60 million upfront and up to $140 million in potential milestone payments to handle development while Alcon will lead global commercialization.