On this page of StockholderLetter.com we present the 7/19/2024 shareholder letter from TriSalus Life Sciences, Inc. — ticker symbol TLSI. Reading current and past TLSI letters to shareholders can bring important insights into the investment thesis.
ANNUAL REPORT 2023
A Letter from Mary Szela Dear Fellow Shareholders, As we look back on our first year as a public company, I am pleased to report that 2023 was a significant year of advancement for TriSalus Life Sciences. We reached several important milestones that propelled our company forward and reaffirmed our dedication to providing sustainable growth and long-term value to our shareholders. The team at TriSalus is comprised of individuals who are passionately focused on improving outcomes for patients with liver and pancreatic cancer. Our innovative platform combines our FDA-cleared Pressure-Enabled Drug Delivery technology with Nelitolimod, an investigational immunotherapeutic TLR9 agonist that activates the immune system in liver and pancreatic tumors. This dual approach is designed to address specific barriers in these organs that hinder patients from fully benefitting from immunotherapy advances. Throughout the year, we achieved notable successes that underscore our commitment to our mission and our shareholders: x x x x x x x Full year revenues of $18.5 million, up 49% over prior year Gross Margin improvement from 82% to 86% for the year. Received assignment of a new APC from the Center for Medicare and Medicaid Services (CMS) to ensure ongoing reimbursement for TriNav via assignment of a new HCPCS code. Real-world data published on TriNav system demonstrates significant improvement in the delivery of therapeutics to liver tumors for patients with higher disease burden. Received 510k clearance for TriNav Large and TriGuide systems. Completed enrollment of one hundred patients in several phase 1 clinical trials in uveal melanoma liver metastases, hepatocellular cancer, intrahepatic cholangiocarcinoma, and pancreatic cancer. Data is maturing, and we plan to analyze data from all three clinical trials in the second half of 2024 to determine the next steps. Initiated first-in-man clinical trial of our novel pancreatic infusion technology, (510k cleared), plus nelitolimod, to demonstrate safety and efficacy. Looking ahead, we remain steadfast in our mission to redefine standards of care and transform the lives of patients battling liver and pancreatic cancer. With a clear focus on innovation, collaboration, and excellence, we are poised to navigate the evolving healthcare landscape and deliver sustained value to our shareholders. Thank you for your unwavering support as we continue our journey to make a meaningful difference in the lives of our patients. Kind Regards, Mary Szela Chief Executive Officer TriSalus Life Sciences, Inc.
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TLSI 7/19/2024 Shareholder/Stockholder Letter Transcript:

ANNUAL REPORT
2023

A Letter from Mary Szela
Dear Fellow Shareholders,
As we look back on our first year as a public company, I am pleased to report that 2023 was a
significant year of advancement for TriSalus Life Sciences.
We reached several important milestones that propelled our company forward and reaffirmed
our dedication to providing sustainable growth and long-term value to our shareholders.
The team at TriSalus is comprised of individuals who are passionately focused on improving
outcomes for patients with liver and pancreatic cancer. Our innovative platform combines our
FDA-cleared Pressure-Enabled Drug Delivery technology with Nelitolimod, an investigational
immunotherapeutic TLR9 agonist that activates the immune system in liver and pancreatic
tumors. This dual approach is designed to address specific barriers in these organs that hinder
patients from fully benefitting from immunotherapy advances.
Throughout the year, we achieved notable successes that underscore our commitment to our
mission and our shareholders:
x
x
x
x
x
x
x
Full year revenues of $18.5 million, up 49% over prior year
Gross Margin improvement from 82% to 86% for the year.
Received assignment of a new APC from the Center for Medicare and Medicaid Services
(CMS) to ensure ongoing reimbursement for TriNav via assignment of a new HCPCS code.
Real-world data published on TriNav system demonstrates significant improvement
in the delivery of therapeutics to liver tumors for patients with higher disease
burden.
Received 510k clearance for TriNav Large and TriGuide systems.
Completed enrollment of one hundred patients in several phase 1 clinical trials in uveal
melanoma liver metastases, hepatocellular cancer, intrahepatic cholangiocarcinoma, and
pancreatic cancer. Data is maturing, and we plan to analyze data from all three clinical trials
in the second half of 2024 to determine the next steps.
Initiated first-in-man clinical trial of our novel pancreatic infusion technology, (510k
cleared), plus nelitolimod, to demonstrate safety and efficacy.
Looking ahead, we remain steadfast in our mission to redefine standards of care and transform the
lives of patients battling liver and pancreatic cancer. With a clear focus on innovation, collaboration,
and excellence, we are poised to navigate the evolving healthcare landscape and deliver sustained
value to our shareholders.
Thank you for your unwavering support as we continue our journey to make a meaningful difference
in the lives of our patients.
Kind Regards,
Mary Szela
Chief Executive Officer
TriSalus Life Sciences, Inc.



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