– Q4 sales of approximately $5.7 million
represent 77% growth versus 2022 – – Q4 and full year gross margin
of approximately 90% and 86% respectively – – Full year 2024 sales
growth expected to exceed 50% –
– Conference call scheduled for Monday, April
1, 2024, at 9:00 a.m. ET –
TriSalus Life Sciences® Inc. (Nasdaq: TLSI) announced today that
the Company will host a conference call and webcast on April 1,
2024, at 9:00 a.m. ET to discuss financial results for the fourth
quarter and full year ended December 31, 2023, and provide a
business update. A press release detailing the fourth quarter and
full year results will be issued prior to the call.
Preliminary, Unaudited Fourth Quarter and Full Year 2023
Financial Results
Full financial results for the year ended December 31, 2023, are
in the process of being finalized, however initial and preliminary
results show revenue, driven solely by the TriNav® Infusion System,
are expected to be approximately $5.7 million for the fourth
quarter of 2023. This represents growth of approximately 77% versus
the fourth quarter of 2022.
For the full year 2023, TriSalus expects to report revenue of
approximately $18.5 million. This represents growth of
approximately 49% versus the full year 2022. The Company believes
this strong momentum will continue and expects sales to grow in
excess of 50% in 2024.
The Company anticipates gross margin will be approximately 90%
for the fourth quarter and 86% for the full year 2023, reflecting a
notable improvement compared to 75% and 82% respectively, for the
same periods in 2022.
TriSalus also expects to report cash and cash equivalents
balances of approximately $11.8 million as of December 31, 2023. It
expects to have sufficient liquidity to fund operations into the
second quarter of 2024. The Company is currently in the process of
obtaining additional liquidity to fund operations through 2024.
Conference Call Details
The event will be webcast live on the investor relations section
of TriSalus’ website at
https://investors.trisaluslifesci.com/news-events/events-presentations.
Following the conclusion of the event, a webcast replay will be
available on the website for approximately 90 days. Interested
parties participating by phone will need to register using this
online form. After registering for the webcast, dial-in details
will be provided in an auto-generated e-mail containing a link to
the conference phone number along with a personal pin.
About TriSalus Life Sciences
TriSalus Life Sciences is an oncology company integrating novel
delivery technology with immunotherapy to transform treatment for
patients with liver and pancreatic tumors.
The Company’s platform includes devices that utilize a
proprietary drug delivery technology and a clinical-stage
investigational immunotherapy. The Company’s two FDA-cleared
devices use its proprietary Pressure-Enabled Drug Delivery™ (PEDD™)
approach to deliver a range of therapeutics: the TriNav® Infusion
System for hepatic arterial infusion of liver tumors and the
Pancreatic Retrograde Venous Infusion System for pancreatic tumors.
PEDD is a novel delivery approach designed to address the anatomic
limitations of arterial infusion to the pancreas. The PEDD approach
modulates pressure and flow in a manner that delivers more
therapeutic to the tumor and is designed to reduce undesired
delivery to normal tissue, bringing the potential to improve
patient outcomes. SD-101, the Company’s investigational
immunotherapeutic candidate, is designed to improve patient
outcomes by treating the immunosuppressive environment created by
many tumors, which can make current immunotherapies ineffective in
the liver and pancreas. Patient data generated during
Pressure-Enabled Regional Immuno-Oncology™ (PERIO) clinical trials
support the hypothesis that SD-101 delivered via PEDD may have
favorable immune effects within the liver and systemically. The
target for SD-101, TLR9, is expressed across cancer types and the
mechanical barriers addressed by PEDD are commonly present as well.
SD-101 delivered by PEDD will be studied across several indications
in an effort to address immune dysfunction and overcome drug
delivery barriers in the liver and pancreas.
In partnership with leading cancer centers across the country –
and by leveraging deep immuno-oncology expertise and inventive
technology development – TriSalus is committed to advancing
innovation that improves outcomes for patients. Learn more at
trisaluslifesci.com and follow us on X (formerly Twitter) and
LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical facts
contained in this report, including statements regarding the
Company’s expected financial results for the three months ended
December 31, 2023 and the full year ended December 31, 2023, the
Company’s belief as to the factors causing the financial results,
and the Company’s projected operating runway into the second
quarter of 2024, are all forward-looking statements. In some cases,
you can identify forward-looking statements by terminology such as
“expect,” “may,” “potential,” “should,” “will,” “would” and other
similar expressions that are predictions of or indicate future
events and future trends, or the negative of these terms or other
comparable terminology.
The Company has based these forward-looking statements largely
on its current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. These forward-looking statements are subject to a number of
known and unknown risks, uncertainties and assumptions, including,
but not limited to, the risk that our reported financial results
will differ from the estimates provided in this press release, the
Company’s ability to achieve its projected growth or maintain its
current levels of revenue, the Company’s ability to obtain
additional liquidity, the Company’s ability to continue as a going
concern, and other risk factors described in the Company’s filings
with the Securities and Exchange Commission, including the section
titled “Risk Factors”. See the Company’s Quarterly Report on Form
10-Q for the quarter ended September 30, 2023, filed with the SEC
on November 14, 2023 and other filings made with the SEC for a
discussion of important factors that may cause the Company’s actual
results to differ materially from those expressed or implied by the
Company’s forward looking statements. Moreover, the Company
operates in a very competitive and rapidly changing environment.
New risk factors emerge from time to time, and it is not possible
for the Company’s management to predict all risk factors nor can
the Company assess the impact of all factors on its business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in, or
implied by, any forward-looking statements.
In light of the significant uncertainties in these
forward-looking statements, you should not rely upon
forward-looking statements as predictions of future events.
Furthermore, if the Company’s forward-looking statements prove to
be inaccurate, the inaccuracy may be material. Except as required
by law, the Company undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Source: TriSalus Life Sciences
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version on businesswire.com: https://www.businesswire.com/news/home/20240311216483/en/
For Media and Investor Inquiries: Argot Partners
212.600.1902 TriSalus@argotpartners.com
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