TriSalus Life Sciences Unveils Promising Financial Progress for 2024
TriSalus Life Sciences Reports Preliminary Financial Results
TriSalus Life Sciences Inc. (NASDAQ: TLSI) is excited to announce its preliminary unaudited financial results for the fourth quarter and full year of 2024. This information highlights the company’s robust position in the oncology sector, as it continues to innovate in drug delivery technology and aims to improve treatment for solid tumors.
Impressive Revenue Growth
The initial financial figures indicate that revenue for the fourth quarter of 2024 reached approximately $8.3 million. This reflects an impressive growth of about 44% compared to the same period in 2023. Such results underscore the increasing demand and effectiveness of TriSalus's proprietary TriNav Infusion System, which is pivotal for this growth.
Annual Financial Overview
For the entire year of 2024, the company generated revenue of approximately $29.4 million, marking an increase of around 59% over the previous year. As TriSalus looks forward to 2025, they anticipate maintaining this momentum with a forecasted revenue growth exceeding 50% for the year. This positive outlook is a testament to their innovative strategies and market reception of their advanced therapeutics.
Cash Flow and Liquidity Insights
In terms of cash flow, the fourth quarter saw operating cash flow of approximately ($5.6 million), which is a significant improvement from the ($10.8 million) seen in the previous quarter. The company remains optimistic about achieving positive EBITDA for the full year of 2025 and generating positive cash flow by the latter half of that year. As of December 31, 2024, TriSalus had about $8.5 million in cash and cash equivalents, which positions them favorably for upcoming operating needs.
Future Liquidity Expectations
TriSalus is also poised to qualify for an additional $10 million from its existing debt arrangement with OrbiMed in the first quarter of 2025. This expected influx of cash is anticipated to provide sufficient liquidity to sustain operations throughout the coming year, aligning with the company’s growth strategy.
Upcoming Conference Call Details
The leadership team at TriSalus Life Sciences will hold a conference call on March 27, 2025, at 8:00 a.m. ET. During this session, they will delve into the financial results for the fourth quarter and full year ended December 31, 2024. Interested parties are encouraged to tune in for insights and updates on the company's strategic direction.
Understanding TriSalus’ Financial Foundation
The preliminary financial outlook shared here is based on management's initial evaluations and remains subject to revisions pending the company’s year-end closure and audits. Therefore, actual results may vary. These figures are not exhaustive and should not replace comprehensive audited financial statements.
Company Background
TriSalus Life Sciences is dedicated to revolutionizing oncology therapeutics with cutting-edge drug delivery systems aimed at enhancing therapeutic efficacy in treating solid tumors. The company boasts a pioneering platform equipped with FDA-cleared devices, including the TriNav Infusion System and the Pancreatic Retrograde Venous Infusion System. These devices utilize an innovative Pressure-Enabled Drug Delivery™ (PEDD™) methodology, which optimizes the delivery of therapeutic agents while minimizing the exposure of healthy tissues.
Commitment to Innovation
With a focused dedication to research and development, TriSalus is advancing treatments like nelitolimod, its investigational immunotherapeutic candidate. This innovative product seeks to overcome challenges posed by immunosuppressive tumor environments, particularly within liver and pancreatic cancers. Clinical trials support the premise that nelitolimod may enhance immune responses, potentially leading to better patient outcomes.
Frequently Asked Questions
What are the preliminary financial results for TriSalus in 2024?
The company reported approximately $8.3 million in revenue for Q4 2024, representing a 44% growth compared to the previous year.
How has TriSalus performed over the entire year?
For the full year of 2024, TriSalus generated approximately $29.4 million in revenue, achieving an impressive growth of around 59%.
What does TriSalus project for future growth?
TriSalus expects to see revenue growth exceeding 50% in 2025, indicating strong business momentum going forward.
What improvements have been made in cash flow?
The company improved its cash flow, decreasing the operating cash flow deficit from $10.8 million in the previous quarter to approximately $5.6 million in Q4 2024.
When is the next conference call for TriSalus?
TriSalus will hold a conference call on March 27, 2025, at 8:00 a.m. ET to discuss their financial results and updates on their business strategies.
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