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Mary T. Szela, CEO and President of TriSalus Life Sciences, Inc. (NASDAQ:TLSI), recently made significant stock purchases at prices above current market value. With analyst targets ranging from $10 to $16 and impressive gross profit margins of 87%, these insider moves warrant attention. According to a recent SEC filing, Szela acquired a total of 9,542 shares of common stock over two days. On January 27, Szela purchased 4,826 shares at an average price of $5.42, and on January 28, she bought an additional 4,716 shares at an average price of $5.12. The total value of these transactions amounted to $50,302.
In addition to these purchases, Szela was granted 40,000 restricted stock units, which will vest in equal annual installments beginning January 1, 2025, contingent upon her continued service with the company. Furthermore, she acquired 240,000 employee stock options, exercisable at $5.30 per share, with vesting commencing on the one-year anniversary of January 1, 2025.
In other recent news, TriSalus Life Sciences announced a significant 59% annual revenue growth for 2024, reaching approximately $29.4 million. This increase was driven by the company’s TriNav® Infusion System, contributing to fourth-quarter earnings of around $8.3 million. The company expects this upward trend to continue, projecting over 50% revenue growth for 2025.
TriSalus also reported a notable improvement in operating cash flow for the fourth quarter of 2024 and anticipates achieving positive EBITDA for the full year and becoming cash flow positive in the second half of 2025. The company also plans to secure an additional $10 million tranche from its existing debt agreement with OrbiMed in 2025.
In terms of leadership, TriSalus has seen changes with the appointment of James Young as Chief Financial Officer, Dr. Richard Marshak as Chief Commercial Officer, and Jodi Devlin as Chief of Clinical Strategy and Operations. Additionally, TriSalus launched the TriNav Large system, a medical device expected to address 30% more cases than its predecessor.
Various analysts have provided their perspectives on TriSalus. Canaccord Genuity maintained a Buy rating on TriSalus shares, adjusting the price target to $11.00. Roth/MKM initiated coverage of TriSalus with a Buy rating, emphasizing the potential of the company’s innovative TriNav catheter and Pressure Enabled Drug Delivery technology. Northland also initiated coverage of TriSalus with an Outperform rating, citing the TriNav system’s potential to become the standard of care for certain medical procedures.
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