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Update: Tarsus Pharmaceuticals Shares Rise After Closing Alkeus Pharmaceuticals Acquisition

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(Updates with the latest stock price movement in the headline and first paragraph.)

Tarsus Pharmaceuticals (TARS) shares rose 8.3% in Friday afternoon trading after the company said it has completed its acquisition of retinal disease-focused biotechnology company Alkeus Pharmaceuticals.

Tarsus said that with the completion of the acquisition, it adds worldwide rights to ALK-001, a differentiated late-stage oral investigational medicine aimed at targeting the underlying biology of Stargardt's disease.

Price: $91.31, Change: $+8.11, Percent Change: +9.74%

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