WESTMINSTER, CO—Arjun JJ Desai, a director at TriSalus Life Sciences, Inc. (NASDAQ:TLSI), recently sold 30,000 shares of the company’s common stock. The transaction, reported in an SEC filing, occurred on December 10, 2024, and amounted to a total value of approximately $110,700.
The shares were sold at a weighted average price of $3.69, with individual transaction prices ranging from $3.55 to $3.90. Following this sale, Desai retains ownership of 247,127 shares in the company. The stock is currently trading near its 52-week low of $3.50, having declined over 54% year-to-date. InvestingPro analysis suggests the stock may be undervalued at current levels, with additional insights available to subscribers.
TriSalus Life Sciences, headquartered in Westminster, Colorado, focuses on developing innovative treatments in the field of surgical and medical instruments. The company maintains a healthy current ratio of 2.4, indicating strong short-term liquidity, though analysts anticipate continued losses this year.
In other recent news, TriSalus Life Sciences has seen a flurry of activity. The company's third-quarter revenue report showed earnings of $7.3 million, closely aligning with Canaccord Genuity's projection of $7.2 million. TriSalus has also reaffirmed its fiscal year 2024 guidance, with expectations of over 50% revenue growth, targeting between $28 million and $30 million. Further, the company has launched the TriNav Large system, a medical device expected to address 30% more cases than its predecessor.
TriSalus also reported a significant improvement in delivering therapeutic glass microspheres to liver tumors using its Pressure-Enabled Drug Delivery (PEDD) method. This method, applied through TriSalus's TriNav Infusion System, showed a 117% increase in penetration with lobar infusions and a 39% increase with selective infusions compared to traditional methods.
The company has received positive analyst ratings from Canaccord Genuity, Roth/MKM, and Northland, all maintaining a Buy or Outperform rating. Notably, Roth/MKM initiated coverage with a Buy rating and a price target of $11.00, highlighting the potential of TriSalus's innovative TriNav catheter and PEDD technology. Northland also initiated coverage with an Outperform rating, citing the TriNav system's potential to become the standard of care for certain medical procedures.
Furthermore, TriSalus announced the addition of Dr. Riad Salem to its Scientific Advisory Board and Liselotte Hyveled to its Board of Directors. The company's revenue is annualizing at approximately $30 million with a compound annual growth rate of 40-50%, and it has secured a $50 million credit facility with healthcare investment firm OrbiMed.
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