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TriSalus Life Sciences, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports a revenue increase to $7,349,000 from $5,193,000 in the same quarter the previous year, driven by increased sales of the TriNav device.
Cost of goods sold rose to $1,004,000 from $589,000, reflecting higher production volumes.
Gross profit for the quarter was $6,345,000, up from $4,604,000 in the previous year, with a gross margin of 86.3%.
Research and development expenses decreased to $4,219,000 from $9,506,000, primarily due to reduced clinical trial expenses.
Sales and marketing expenses increased to $6,138,000 from $4,689,000, attributed to higher payroll and travel expenses.
General and administrative expenses decreased to $4,727,000 from $9,025,000, mainly due to lower legal and consulting costs.
The company reported a net loss of $2,399,000 for the quarter, compared to $1,425,000 in the previous year.
TriSalus raised $12,390,000 through the sale of common stock under the Standby Equity Purchase Agreement during the nine months ended September 30, 2024.
On April 30, 2024, TriSalus entered into a Credit Agreement with OrbiMed, providing up to $50 million in senior secured term debt, with $25 million drawn immediately.
TriSalus continues to focus on the commercialization of its TriNav device and the development of its pharmaceutical product candidate, nelitolimod, for liver and pancreatic cancers.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TriSalus Life Sciences Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.