Financials
TriSalus Life Sciences
Condensed Consolidated Statement of Operations (unaudited, in
thousands)
Three Months Ended
March 31,
----------------------------
2024 2023
---------- ----------
Revenue $ 6,457 $ 2,984
Cost of goods sold 971 662
---------- ----------
Gross Profit 5,486 2,322
Operating expenses:
Research and development 5,857 5,642
Sales and marketing 6,687 3,249
General and administrative 4,627 3,552
---------- ----------
Loss from operations (11,685) (10,121)
Other income (expense):
Interest income 92 35
Interest expense (3) (5)
Loss on equity issuance (1,465)
Extinguishment of tranche
liability 881
Change in fair value of SEPA and
warrant liabilities 2,521 2,421
Change in fair value of contingent
earnout liability (3,988)
Other expense, net (153) (19)
---------- ----------
Loss before income taxes (13,216) (8,273)
Income tax (expense) benefit (3) 5
---------- ----------
Net loss available to common
stockholders $ (13,219) $ (8,268)
Deemed dividend related to Series
B-2 preferred stock down round
provision (959)
Undeclared dividends on Series A
preferred stock (801)
---------- ----------
Net loss attributable to
common stockholders $ (14,020) $ (9,227)
========== ==========
Net loss per common share, basic and
diluted $ (0.60) $ (0.57)
Weighted average common shares
outstanding, basic and diluted 23,323,045 16,166,581
TriSalus Life Sciences
Condensed Consolidated Balance Sheets (unaudited, in thousands)
March 31, December 31,
2024 2023
---------- -----------
Assets (unaudited)
Assets
Cash and cash equivalents 3,970 11,777
Accounts receivable 4,277 3,554
Inventory, net 2,913 2,545
Prepaid expenses 2,031 2,986
---------- -----------
Total current assets 13,191 20,862
Property and equipment, net 1,965 2,091
Right-of-use assets 1,196 1,179
Intangible assets, net 1,113 1,127
Other assets 424 466
---------- -----------
Total assets 17,889 25,725
========== ===========
Liabilities and Stockholders' Equity
(Deficit)
Current liabilities:
Trade payables 2,348 3,391
Accrued liabilities 11,423 10,556
Short-term lease liabilities 363 351
Other current liabilities 260 389
---------- -----------
Total current liabilities 14,394 14,687
Long-term lease liabilities 1,218 1,244
Contingent earnout liability 22,620 18,632
Warrant and SEPA liabilities 14,580 17,100
---------- -----------
Total liabilities 52,812 51,663
Stockholders' equity (deficit):
Preferred Stock, Series A $0.0001 par
value per share, $10.00 liquidation
value
per share. Authorized 10,000,000
and 10,000,000 shares at March 31,
2024,
and December 31, 2023,
respectively; issued and
outstanding, 4,015,002
and 4,015,002 shares at March 31,
2024 and December 31, 2023,
respectively
Common stock, $0.0001 par value per
share. Authorized 400,000,000 and
400,000,000 shares at March 31,
2024 and December 31, 2023,
respectively;
issued and outstanding 26,758,272
and 26,413,213 shares at March 31,
2024
and December 31, 2023, respectively 2 2
Additional paid-in capital 226,671 222,437
Accumulated deficit (261,596) (248,377)
---------- -----------
Total stockholders' deficit (34,923) (25,938)
---------- -----------
Total liabilities and stockholders'
deficit 17,889 25,725
========== ===========
View source version on businesswire.com: https://www.businesswire.com/news/home/20240515146172/en/
CONTACT: For Media Inquiries:
Stephanie Jacobson
Argot Partners
610.420.3049
TriSalus@argotpartners.com
For Investor Inquiries:
James Young
SVP-Investor Relations/Treasurer
847.337.0655
james.young@trisaluslifesci.com
(END) Dow Jones Newswires
May 15, 2024 08:00 ET (12:00 GMT)
Comments