TriSalus Life Sciences (Nasdaq: TLSI) reported its Q1 2024 financial results, highlighting a 116% year-over-year revenue increase to $6.5 million, driven by the TriNav® Infusion System. The gross margin improved to 85%, up from 78% in Q1 2023. Despite increased investments leading to an operating loss of $11.7 million and a net loss of $13.2 million, the company secured up to $50 million in debt financing with OrbiMed. Additionally, TriSalus appointed Liselotte Hyveled to its Board of Directors. The company forecasts full-year sales growth to exceed 50%.
TriSalus Life Sciences, a Nasdaq-listed oncology company, appointed Liselotte Hyveled to its Board of Directors. Hyveled, an industry veteran with over two decades of experience in pharmaceutical research and development, will contribute to TriSalus' vision of pioneering innovative treatments for liver and pancreatic cancers. Her strategic insights and patient-centric approach will be important in shaping the company's growth trajectory and advancing its technology and therapeutic pipelines.
TriSalus Life Sciences, a Nasdaq-listed oncology company, will host a conference call on May 15, 2024, at 9:00 a.m. ET to discuss first-quarter financial results and provide a business update. The call will cover the period ending March 31, 2024, and will be webcast live on their investor relations website.
TriSalus Life Sciences has secured up to $50 million in debt financing with OrbiMed to support the growth of its TriNav® Infusion System. $25 million was funded initially, with an option for an additional $25 million based on revenue thresholds. The financing is expected to fuel strategic expansion, extending the cash runway through 2025.
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