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DENVER - TriSalus Life Sciences, Inc. (NASDAQ: TLSI), a company focused on oncology and medical technology with a market capitalization of approximately $177 million, announced the appointment of David B. Patience as its new Chief Financial Officer effective July 1, 2025. According to InvestingPro data, the company currently maintains a FAIR financial health score, though it faces challenges with cash burn. Patience will take over from James E. Young, who is stepping down for personal reasons today. During the interim period, Vice President of Finance Dan Giordano will act as the CFO.
President and CEO Mary Szela expressed confidence in Patience’s capabilities, highlighting his extensive experience in financial leadership and operational execution, which she believes will be crucial for the company’s growth phase. With analyst price targets ranging from $9 to $16 per share according to InvestingPro, the market appears optimistic about the company’s future potential. Szela also extended gratitude to Young for his contributions to the firm.
David Patience joins TriSalus with a background in finance and strategic planning, having served as CFO for Accelerate Diagnostics since 2023. His career includes positions with Morgan Stanley’s Investment Banking Division, Continental Advisors equity group, and various financial research roles at Nuveen Investments. Patience holds a Bachelor of Science in Business Administration from the University of Colorado Leeds School of Business and an M.B.A. from the University of Chicago Booth School of Business.
TriSalus Life Sciences is known for its innovative delivery technology and investigational immunotherapeutic, nelitolimod, aimed at enhancing treatment for patients with solid tumors. The company’s proprietary Pressure-Enabled Drug Delivery (PEDD) technology is used in FDA-cleared devices such as the TriNav Infusion System and the Pancreatic Retrograde Venous Infusion System, designed to improve therapeutic delivery and patient outcomes.
The company is currently finalizing data from several phase 1 clinical trials and is exploring partnerships for further development. Recent InvestingPro data shows impressive revenue growth of 46% in the last twelve months, though the company maintains a moderate debt level with a healthy current ratio of 2.14. This news is based on a press release statement from TriSalus Life Sciences. For deeper insights into TLSI’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, TriSalus Life Sciences reported its first-quarter 2025 financial results, revealing a 42% year-over-year increase in revenue, reaching $9.2 million. This growth was primarily driven by the increased utilization of its TriNav system, although it slightly missed Cantor Fitzgerald’s projection of $9.5 million but surpassed the FactSet consensus estimate of $9.0 million. The company experienced a decrease in gross margin, down by 100 basis points to 84%, due to expanded clean-room facilities, which were completed in March. Despite this, the company reduced its operating losses significantly from $11.7 million in the previous year to $7.3 million. Additionally, TriSalus successfully raised $22 million in gross proceeds through a private placement, enhancing its financial position. Cantor Fitzgerald maintained an Overweight rating on the company with a price target of $9.00. TriSalus aims for at least 50% revenue growth in 2025, driven by new product launches and market expansion, although it does not expect to achieve EBITDA or cash flow positivity until early 2026.
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