TLSI - Earnings call transcript Q1 2024 | TriSalus Life Sciences, Inc.

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Operator

Good morning, and welcome to TriSalus Life Sciences' First Quarter 2024 Earnings Conference Call. [Operator Instructions].

As a reminder, this call is being recorded for replay purposes.

I would now like to turn the call over to your host, Jim Young, Senior Vice President of Investment Relations and Treasurer at TriSalus, for a few introductory remarks.

James Young

Thank you all for participating in today's call.

TriSalus Officer, are Officer, Sean from and Szela, and today Executive Chief Murphy, me Life Mary Sciences President Dr. Joining Chief Financial Chief Katz, Medical Steven Officer. ended results Earlier the released morning, XXXX. financial this first TriSalus quarter March XX, for available A TriSalus' copy website. on release of press the is

statements of within are begin, make provisions the safe Private federal laws, would which meaning pursuant Act management I that to of harbor call we to remind of this Before that Securities Reform include made the you the like will during forward-looking statements XXXX. securities

are objectives, this statements contained forward-looking adoption, and other and Any statements sales, runway, and anticipated risks of involve our statements product events conditions product and macroeconomic or including historical anticipated without and strategies, results, approvals estimates future including, differ are these in statements. uncertainties, relating cause future All growth, could implied to statements call, statements. products operating clinical and based than our and data, projected These materially cash costs, various the value forward-looking those material forward-looking to results launches, limitation, fact, from actual and and statements, business global that upon or events of assumptions. impact by development current the

you undue Accordingly, should reliance place statements. not on these

and on available reports section our and SEC. Form of in list and uncertainties file refer Factors Risk the periodically associated and the SEC filed a description For risks the our please XX-Q of the with our with to business, EDGAR with other on

information, is the only financial whether information XXXX. by revise obligation, call otherwise. intention to any required XX, today, projections because future live update accurate forward-looking and This or any or May time-sensitive conference disclaims or of TriSalus events, contains statements, as broadcast law, of new as or except

turn I'll to Mary. that, over the call with And

Mary Szela

for an off the exceptional optimistic quarter advance to and Their Good by We're setting morning, the team the rest commitment of our milestones, the of the continues tone our start I'm in first joining expressing drive achieve you kick all efforts to delivering today's strong thank thrilled significant sincere pipeline, XXXX, the and year. TriSalus our and appreciation discussion for company's call. us for highlighting shareholders. future. mission to patients, to our enabling dedication our of our in unwavering and success, for reshape entire results physicians, my

therapeutics, is from force this key the data, sale companies on quarter's to discuss Starting another pancreatic of our PEDD, as by and which technology, one indications. and report permanent a underscores liver I'm we'll updates XXX% to quarterly revenues, delivery reimbursement, clinical with Today, our sales growth the growth. investigational over quarter in all of year. groundbreaking consecutive same delighted fastest-growing provide XX% Nelitolimod, highlights and remarkable our of last drug fueled for growth expansion, promising with position promising TriNav of the compared period MedTech This and performance,

XXXX, outcome clinical for diverse patients. underscores TriNav's data engaging We've to the these of radiology study of been the analysis updating particularly challenges. TriNav, of with patients share the the We're clinical actively with study. our care latest further standard complex treating from and to This value hospital and health, economic, the community in interventional research outcomes our to become include potential reinforcing

centimeters than patients This embolization following. in involving TriNav clinical tumor essentially therapy, in the multi-nodal very burden, patients, greater bilobar comorbidities, hypovascular lesions, multiple Previous or value previous size, complex tumors. data, tumors X to of of tumors, addition significant the large demonstrates or more data, and in our or one by diffuse defined

high-volume of implementing technology's embolization facilitate care for programs within become and adoption to to these patients we the this a range data, robust support the Given are educational the of and TriNav reimbursement hospital. positioning standard

of concluded launch across TriNav As the we the cancer from various move Nelitolimod along the results for Pancreatic Cancer, PERIO-XX. clinical the Uveal Large eagerly nearing has I second with Metastases, clinical our half year, been completion indications. our trial PERIO-XX, trials Enrollment Phase Cancer, forthcoming PERIO-XX, of in successfully ahead, with we're anticipating enrollment Cholangiocarcinoma, Intrahepatic for for Melanoma and Hepatocellular Liver

awaiting follow-up which to which We period in during to evaluate are thoroughly conclude, we currently strategize steps terms the our of the data and predetermined indications will next pursue.

annual PERIO-XX to we innovation and promising the from of remains presenting Clinical steadfast, data American at Our look Oncology to forward meeting. Society upcoming dedication

position investments we've operational margin, strategic In an optimizing made addition in coupled and manufacturing focus with These advancements, and for impressive dedication clinical positive sustained efforts, achieving team, ability data, our significant strides gross strategy. of our on robust our efficiency, in reimbursement, confident executive in this quarter. developments growth to seasoned execute our gross and the recent us pipeline XX% we're our clinical With to margin company-building advancement. and

over top-line of firmly operational achieving revenue growth, and track. on XX% Our pipeline, objectives foundations remain strengthening advancing our our

delve with Sean into pleased our performance. progress, I'll and we're deeper now quarter's this In summary, Sean? let financial

Sean Murphy

and everyone, pleased Mary. that thank the XX, outstanding ended quarter in TriSalus that to morning, Good XXXX. announce I first March you, results am achieved

TriNav company a illustrated Our growth demonstrates strong rate reached annualized the compound in to has million. US TriSalus has company's of a reflecting on approximately quarterly the sales at XXXX. since the of in track $X.X increase in revenue, driven as history, same product a solely record This Slide the by growth launch the achievement XXX% the XXXX. represents X, highest very sales success device grown of which of the in the period the compared XX%

clinical late expected the XXXX. business, We continue Nelitolimod positive in over XX%, growth to forecast EBITDA segment XXXX is to approach this and costs, of excluding

hospital associated reimbursement quarter, new at in internal demand our previously favorable due captured pent-up XX to XXXX announced our the customer This to net projections first permanent December. end counts. achieving amount the of In we is with

units account XX.X the compared XXXX. per units Our account XX.X in of first to account per utilization reached quarter

quarter the We of are XXXX, XXXX. in compared gross proud to first margin the first in XX% report to profile a XX% quarter of robust of

increased in XXXX to batch attributed margin factory efficiencies. and This yields, volumes, improved be can operating other favorable

Our support our growth capital facility investment. Colorado in Westminster, five the next years minimal can over with

quarter and the in expenses for totaled development, quarter research increase investment million, Regarding an of X% $X.X first the first our of from XXXX. of XXXX

clinical We expect the from analyze the of trials. XXXX we and to decrease follow-up data costs as the for balance finish our

representatives Our quarter XX ongoing a investment of the These increase first continues sales the and XXXX million, in marketing quarter beginning force investments expansion our XX to XXX% strategy. support from closely of X clinical our to representatives in tied XXXX. specialists. growth to XXXX, of sales current first and level increase invested in of are the $X.X from In our we of of total

related administrative first compared the increase with of quarter $X.X to the in totaled increases expenses public XXXX, and million These first a General becoming an company associated are August primarily the quarter XXXX. costs of in of to of XXXX. XX%

million XXXX XXXX. Our of $XX.X of to $XX.X quarter operating losses of quarter compared first million the totaled the losses in first for

operating As profile. and from increased sales administrative mentioned marketing, margin increased gross losses expenses general expenses. earlier, primarily TriNav R&D, to in were offset These the expenses improved and XXXX margin gross in revenues attributed the be increased and higher can by

credit to end we April option, sufficient addition the hand, two to to available additional release, we financing, to closed with revenue subject at we As fund we entire of provide that up the are as equivalents $XX cash and $XX agreement, certain the $X operation debt sources along in to tranches achievement -- the million, the runway have quarter, liquidity, in of our in an This thresholds. to borrowed at at million through terms XXXX. announce end of our noted million facility on borrow $XX expected assuming our financing of cash OrbiMed. two a with other our of aggregate pleased and up million closing and the we're Under in press an

now turn Mary And for remarks. closing back call to I'll the

Mary Szela

PERIO are to participating TriSalus, a brief, strides and today. share the our and future we've our bolstering thrilled Sean, business in runway, in successful clinical In company welcome a our for we're we're proud extension to you, testament program. shaping at TriNav promising warm the significant advancing announce Furthermore, call Thank shareholders. the our to who our to made commitment, to of cash a all and

questions have. pleased answer I'm floor that, may With the any to to open you

company our valued. genuinely perspectives are inquiries in your interest Your and and

Operator

first the [Operator with Justin Jones Trading. of comes Our Walsh line Instructions] question from

Justin Walsh

the color on forward excellent some thanks can for we and expect Hi, how what informing which with? quarter congrats to and the on taking move the provide indications you if upcoming question. these you from your wondering for about can Nelitolimod, I'm decisions anticipate readouts data

Mary Szela

No is all for question, recently further waiting we're enrolled to mature. Right clinical for now, Justin. updates What data. the patients Good the on

January number of patients in had December enrolled a we timeframe. timeframe, So quite early the

evaluation. comprehensive And the to we'll So we're mark. do they get wait going then to a six till month

where that effect, I And have treatment pursue our a competitive indication in to pathway, think recommendation third going we're very only as the quarter. approval, accelerated, breakthrough have a potentially make regulatory small even very is the we we we think going approach is indication. clear you environment we'll to company, to know, board a definitely significant the be, low, an that that an a

going But -- looking range and on we pursue likely just will across finance. go to through of based indications as our a whole process, to different only ability be this we we X, and also, we're you know,

as well. we'll other data if options really However, is spectacular, the look at

Justin Walsh

on just you available. on Got have of sort your that can you've preparation Large, for from it. color wondering some from the community of I'm commercial enthusiasm desire physician Thanks. the And one one and launch provide more any and commentary quick gotten TriNav me. to if efforts

Mary Szela

as gone third users, them, through we've Yeah, we're to important we've a on I of going launching any learning which would that go, the feedback go I in the approach and in things how into for you launching mean, instead number a we've TriSalus, fourth key they understand we now, what is completing product, new that market evaluation quarter, a just use it of of market done to it, where right quarter. at done, one and the be get the fairly extensive think very

we the is, important, particularly of a size more is thicker the in is Large I and where TriNav viscosity to And where perfuse. TACE what big makes to date, TriNav you think solution a know, larger validated is the having difference. very cases And more, of this difficult

number vessel think size. I just two,

to going a volume, is have of some a For technology. type these they of tumor appropriate where very be significant very this patients

So I in we need say the would the marketplace. overall validated

it, plan to I quarter. fourth bit of think we'll a then the in enthusiasm there's quite about launch and

Operator

showing I'd turn to Szela closing I'm over for this [Operator no remarks. Instructions] further back time. currently the questions call Mary And at like to

Mary Szela

call really and company the appreciate everyone. appreciate Well, all your time our you today. first Thank of to involvement your for taking in listen time. and thank you, all, We to interest

Operator

conference Thank This call. participation. your today's for concludes you

You now may disconnect.

TriSalus Life Sciences (TLSI) 15 May 242024 Q1 Earnings call transcript