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WESTMINSTER, CO—TriSalus Life Sciences, Inc. (NASDAQ:TLSI), a medical device and pharmaceutical company with a market capitalization of $184 million, announced the immediate resignation of board member George Kelly Martin, as disclosed in a recent SEC filing. Martin stepped down from his role on the Board of Directors, the Audit Committee, and the Compensation Committee on Monday. According to InvestingPro data, the company has shown strong revenue growth of 59% over the last twelve months, though it faces challenges with cash burn.
The company, headquartered in Westminster, Colorado, confirmed that Martin’s departure was not due to any disagreements regarding operations, policies, or practices. TriSalus expressed gratitude for Martin’s contributions during his tenure, though no further details about the resignation or plans for a successor were provided. Analysts maintain an optimistic outlook, with price targets ranging from $10 to $16 per share, significantly above the current trading price of $5.70.
TriSalus Life Sciences, formerly known as MedTech Acquisition Corp, specializes in surgical and medical instruments and apparatus. The company’s common stock and warrants are listed on the Nasdaq Global Market under the symbols TLSI and TLSIW, respectively.
The information in this report is based on a press release statement and the company’s SEC filing. TriSalus Life Sciences has not released any additional public statements regarding the change in its board composition at this time.
In other recent news, TriSalus Life Sciences reported a 44% year-over-year revenue increase for the fourth quarter of 2024, reaching $8.3 million. For the full year, revenue rose by 59% to $29.4 million. Despite operating losses, the company managed to reduce them significantly from $14.2 million in Q4 2023 to $7.6 million in Q4 2024. TriSalus has announced plans to launch TriNav 2.0 in the first half of 2025, with expectations of achieving positive EBITDA by mid-year. The company also secured up to $50 million in debt financing from OrbiMed to support the growth of TriNav initiatives. Additionally, TriSalus increased its unique ordering accounts by 43% in 2024. The company received a new HCPCS code from CMS effective April 2025, which is expected to expand market access by 25%. Analysts from Northland Capital Markets and Canaccord Genuity have shown interest in the company’s developments, particularly regarding the new Medicare mapping code and its potential impact.
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