TriSalus Life Sciences, Inc.
TriSalus Life Sciences, Inc. (Nasdaq: TSLS) is an oncology-focused medical technology company developing innovative solutions for delivering therapeutics to solid tumors. The company operates through two primary business segments: its commercial device business centered on the TriNav Infusion System and its… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What TriSalus Life Sciences, Inc. does
In the company’s own words
TriSalus Life Sciences, Inc. (Nasdaq: TSLS) is an oncology-focused medical technology company developing innovative solutions for delivering therapeutics to solid tumors. The company operates through two primary business segments: its commercial device business centered on the TriNav Infusion System and its investigational therapeutic program featuring nelitolimod, a TLR9 agonist immunotherapy.
The TriNav platform represents the company's core revenue driver, utilizing proprietary Pressure-Enabled Drug Delivery (PEDD) technology to overcome critical barriers in tumor treatment. The SmartValve mechanism modulates vascular pressure and flow to improve drug penetration into tumors while minimizing off-target delivery to healthy tissue. TriNav is FDA-cleared and has been used in over 31,000 procedures, primarily transarterial chemoembolization (TACE) and transarterial radioembolization (TARE) for treating liver cancers and metastases. The company generated $45.2 million in TriNav revenue in 2025, representing 53.4% growth year-over-year. TriSalus expanded its TriNav portfolio in 2025 with product launches including TriNav FLX and TriNav XP to address diverse patient anatomies and applications.
Beyond liver tumors, TriSalus is developing the Pancreatic Retrograde Venous Infusion (PRVI) device, an FDA-cleared but not yet commercialized system designed to deliver therapeutics to pancreatic tumors using PEDD technology. The company estimates its total addressable market for PEDD technology exceeds $2.3 billion annually across multiple applications including liver cancer, pancreatic cancer, uterine fibroid embolization, thyroid embolization, and emerging treatments for osteoarthritis.
The nelitolimod program represents a strategic therapeutic opportunity acquired from Dynavax in 2020. The company is conducting Phase 1 clinical trials evaluating nelitolimod combined with PEDD delivery for uveal melanoma with liver metastases, intrahepatic cholangiocarcinoma, hepatocellular carcinoma, and locally advanced pancreatic cancer. Results from these studies are expected in 2026, with the company planning to pursue pharmaceutical partnerships for further development.
TriSalus maintains a direct sales organization of 43 professionals focused on hospital adoption of TriNav among interventional radiologists. The company collaborates with leading academic medical centers, including MD Anderson Cancer Center, to generate clinical evidence supporting PEDD technology across multiple indications.
Company details
- Sector
- Healthcare
- Industry
- Surgical & Medical Instruments
- Headquarters
- WESTMINSTER, CO
- Fiscal year end
- December
- CIK
- 1826667
- SIC
- 3841
Financial performance, year by year
Fiscal 2021–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns TriSalus Life Sciences, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · TriSalus Life Sciences, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Could not be determined for this company: bond issues.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
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