WESTMINSTER, Colo.—Bryan F. Cox, Chief Scientific & Manufacturing Officer at TriSalus Life Sciences, Inc. (NASDAQ:TLSI), recently sold 314 shares of the company's common stock. The transaction, which took place on October 5, 2024, was executed at an average price of $4.44 per share, amounting to a total value of $1,394.
According to the filing, these shares were sold to cover tax withholding obligations related to the vesting of Restricted Stock Units granted earlier in May 2023. Following this transaction, Cox retains ownership of 86,382 shares in TriSalus Life Sciences. Despite recent market pressure, the company maintains impressive gross profit margins of 87%. InvestingPro subscribers can access 8 additional key insights about TLSI's financial health and market position.
In other recent news, TriSalus Life Sciences has been the subject of several financial updates and strategic developments. The company reported Q3 revenues of $7.3 million, slightly below the consensus estimate of $7.4 million. TriSalus also announced its fiscal year 2024 guidance, anticipating over 50% revenue growth and targeting between $28 million and $30 million. The company also expects to continue this growth into fiscal year 2025, along with a 20% reduction in operating expenses.
The firm Canaccord Genuity updated its assessment of TriSalus, reducing the price target to $11.00 from the previous $12.00, while still upholding a Buy rating. Other analyst firms, including Roth/MKM and Northland, also initiated coverage with positive ratings, highlighting the potential of TriSalus's innovative TriNav catheter and Pressure Enabled Drug Delivery (PEDD) technology.
TriSalus has also announced the launch of the TriNav Large system, a medical device expected to address 30% more cases than its predecessor. The company is considering partnering for the development of PERIO-01 while awaiting the PERIO-03 outcomes. Despite the uncertainty surrounding the future of Nelitolimod, an internal drug development project, the company views any progression as a potential bonus.
In addition to these financial updates, TriSalus has made significant strides in its oncology sector. The company recently appointed Dr. Riad Salem, a renowned expert in interventional radiology, to its Scientific Advisory Board. The company also published research demonstrating a significant improvement in the delivery of therapeutic glass microspheres to liver tumors using its PEDD method. These are just a few of the recent developments that indicate the company's potential for growth and strategic initiatives in the oncology sector.
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