DENVER - TriSalus Life Sciences, Inc. (NASDAQ:TLSI), an oncology-focused biotechnology company with a market capitalization of $157 million and impressive revenue growth of 68% in the last twelve months, has announced changes to its executive leadership team effective January 6, 2025. According to InvestingPro analysis, the company maintains strong gross profit margins of 87% while operating with moderate debt levels. The company appointed James Young as Chief Financial Officer (CFO), Dr. Richard Marshak as Chief Commercial Officer, and Jodi Devlin as Chief of Clinical Strategy and Operations.
James Young, formerly the Senior Vice President of Investor Relations and Treasurer, succeeds Sean Murphy, who will continue his tenure at TriSalus as Chief Manufacturing, Strategy and Business Development Officer, and retain his position on the Board of Directors. Young's appointment comes after an 18-month planning and collaboration period with Murphy, aimed at ensuring a smooth transition of responsibilities.
Dr. Richard Marshak, previously Senior Vice President of Corporate Development, Strategy, and Marketing, brings his extensive experience from the pharmaceutical industry to the role of Chief Commercial Officer. Jodi Devlin, with a background in biotech, medical devices, and pharmaceuticals, steps into her new role after joining the company in August 2023 as President of Commercial Operations.
Mary Szela, President and CEO of TriSalus, commended the newly appointed executives for their contributions to the company's growth and success, expressing confidence in their ability to drive innovation and patient impact in their new roles.
TriSalus Life Sciences is known for its work in improving outcomes for patients with solid tumors through its innovative delivery technology integrated with standard-of-care therapies and investigational immunotherapy. The company's platform includes FDA-cleared devices and a clinical-stage investigational immunotherapeutic designed to enhance treatment efficacy.
This restructuring of the executive team is part of TriSalus' broader strategy to achieve its goals for 2025 and beyond. The company's press release statement highlighted its commitment to leadership continuity and operational excellence as it continues to innovate in the oncology space. InvestingPro data reveals analyst price targets ranging from $10 to $16, suggesting potential upside opportunities. Get access to 8 additional ProTips and comprehensive financial analysis with an InvestingPro subscription.
In other recent news, TriSalus Life Sciences reported third-quarter revenue of $7.3 million, closely aligning with Canaccord Genuity's projection. The company reaffirmed its fiscal year 2024 guidance, anticipating over 50% revenue growth. TriSalus also announced the launch of the TriNav Large system, a medical device expected to address 30% more cases than its predecessor. Additionally, 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. The firm projects this technology could drive over 50% growth for TriSalus by 2027. 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.
TriSalus has been expanding its platform through the integration of the TriNav catheter with a proprietary TL-9 antagonist, currently undergoing phase 1 evaluation. The company also announced the appointment of Dr. Riad Salem to its Scientific Advisory Board and Liselotte Hyveled to its Board of Directors. These recent developments indicate the company's ongoing growth and strategic initiatives in the oncology sector.
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