TriSalus Highlights Tumor-Treatment Expansion, FDA Catalyst at Growth Conference

Commercial expansion is underway: TriSalus substantially enlarged its sales force, with new representatives expected to reach full productivity within six to nine months. The company is also increasing physician-to-physician education to broaden adoption beyond early users. TriNav ADVANCE is a potential FDA catalyst: The product remains under FDA review after an unusually long process of roughly 10 months and is reportedly in its final stages. Clearance could expand TriSalus’ reach into smaller and more difficult-to-access vessels, including an estimated 20% of “super selective” procedures. Management sees a path to stronger economics and broader markets: TriSalus estimates that quarterly revenue of $18 million to $20 million could support cash-flow positivity, while ADVANCE may achieve gross margins near 93%. A new CMS reimbursement code expected to take effect Jan. 1 could also improve access in office-based labs, supporting the company’s estimated $2.5 billion addressable market.

TriSalus Life Sciences NASDAQ: TLSI outlined its commercial expansion, product pipeline and clinical-evidence strategy during Canaccord Genuity’s Global Growth Conference, with management emphasizing the company’s pressure-enabled delivery technology for solid-tumor treatments. President and CEO Mary Szela said the company’s catheter technology uses a valve designed to modulate pressure and flow in vessels feeding tumors. The approach is intended to improve delivery of therapeutic agents into tumors while limiting delivery to surrounding tissue.

According to Szela, pressure within tumors can exceed the pressure generated by the heart, potentially limiting the ability of therapies to penetrate tumors. She said TriSalus’ technology can increase therapeutic delivery into solid tumors by 50% to 500%, while helping protect against off-target delivery.

Commercial Expansion and Sales Force Ramp CFO David Patience said TriSalus substantially expanded its commercial organization during the first half of the year, with the expanded team largely in place by April. New sales representatives are about halfway through a six-to-nine-month process to become fully productive, he said. Management said it monitors physician engagements, product use, value-analysis committee approvals and the transition to routine use as indicators of adoption. Patience said newer representatives are ramping in line with the company’s expectations, while legacy representatives continue to grow. TriSalus has also increased its use of physician-to-physician education programs. Patience said peer-to-peer events in the second quarter were two to three times higher than the number held during all of 2025 year to date. Management said these programs can help current users provide clinical-use examples to other interventional radiologists. Szela said the company has now been on the market for four years and has moved beyond initial adopters. In many accounts, TriSalus is seeking to broaden usage from one physician to additional physicians at the same facility. Asked about the sales-force expansion, Szela said the company moved quickly to avoid prolonged disruption within the organization. In hindsight, she said TriSalus could have established a more robust training program before expanding the commercial team. Patience said the company could have communicated more clearly to investors that the expansion was intended to address commercial coverage rather than demand weakness.

TriNav ADVANCE Awaiting FDA Clearance TriSalus is awaiting FDA clearance for TriNav ADVANCE, a product designed to allow physicians to use a standard microcatheter while re...