TriSalus Life Sciences expands board, appoints new directors

WESTMINSTER, CO – TriSalus Life Sciences Inc. (NASDAQ:TLSI), a medical device company with a market capitalization of $156 million, announced the expansion of its Board of Directors and the appointment of two new members.

The company, currently trading at $5.11 per share, has shown impressive gross profit margins of 87.1% according to InvestingPro data. On January 29, 2025, the company increased its board to 11 directors, naming William Valle as a Class I director and Gary Gordon as Class III director.

Mr. Valle and Dr. Gordon’s appointments are part of the company’s strategic governance plan, with their terms set to expire at the annual stockholder meetings in 2027 and 2026, respectively. Both appointments were made without any disclosed arrangements or understandings with other persons, and there are no transactions involving the new directors that would require additional disclosure under SEC regulations.

In accordance with TriSalus’s compensation policy for non-employee directors, Valle and Gordon will each receive an annual cash retainer of $50,000 for their board service. Additionally, they were granted stock options as part of their compensation package.

Each was awarded an option to purchase 35,000 shares of common stock, which will vest over three years, and an option for 6,250 shares, vesting earlier of one year or the next stockholder meeting. They will also receive automatic annual option grants for 15,000 shares at each subsequent annual meeting, contingent upon continued service.

Furthermore, Valle and Gordon will enter into the company’s standard Indemnification Agreement for directors. Valle will join the Audit and Compensation Committees, receiving an extra $7,500 for each role annually. Gordon will serve on the Science and Technology Committee, also earning an additional $7,500 annually for his contributions.

The company’s governance and compensation practices follow the guidelines established for publicly traded companies and are designed to attract and retain experienced professionals to guide TriSalus’s strategic direction. The announcement, based on a press release statement, underscores TriSalus’s commitment to enhancing its leadership as it continues to innovate in the surgical and medical instruments sector.

The company maintains a healthy financial position with a current ratio of 2.4 and has achieved significant revenue growth of 67.9% in the last twelve months. Analyst price targets range from $10 to $16, suggesting potential upside. InvestingPro subscribers have access to over 30 additional financial metrics and insights about TriSalus’s future prospects.

In other recent news, TriSalus Life Sciences has reported significant revenue growth of 59% for 2024, with earnings for the fourth quarter reaching approximately $8.3 million. The company also anticipates a revenue growth in excess of 50% for 2025. Changes in the executive leadership team have been announced with James Young taking the position of Chief Financial Officer, Dr. Richard Marshak as Chief Commercial Officer, and Jodi Devlin as Chief of Clinical Strategy and Operations.

Analyst firms, including Canaccord Genuity and Roth/MKM, have maintained a Buy rating on TriSalus, with price targets ranging from $10 to $16. Canaccord Genuity has adjusted its price target to $11.00, while Roth/MKM initiated coverage with a price target of $11.00.

In product development, TriSalus has launched the TriNav Large system, expected to address 30% more cases than its predecessor. Additionally, the company has integrated the TriNav catheter with a proprietary TL-9 antagonist, which is currently undergoing phase 1 evaluation.

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