Canaccord Genuity Starts TriSalus Life Sciences, Inc. (TLSI) at Buy

Canaccord Genuity analyst William Plovanic initiates coverage on TriSalus Life Sciences, Inc. (NASDAQ: TLSI) with a Buy rating and a price target of $12.00.

The analyst comments "Bottom line: We initiate coverage with a BUY rating and $12 price target. We believe TLSI is a differentiated growth company with both an expanding commercial Med-Tech business and a developing drug program that is complementary with its device. The company’s product, TriNav, is an FDA 510(k) cleared device that improves the ability to deliver oncology treatments to the liver and pancreas when compared to standard microcatheters used today. The “secret sauce” for TriNav is its SmartValve—a one-way valve that allows the company to 1) overcome the high-pressure of the tumor environment, and 2) allows for the delivery catheter to be centered in the artery for better deliverability of treatments. The company is also working on its own oncology drug, nelitolimod, which is treatment agnostic. TLSI’s aim is to have its catheter used in existing transarterial radioembolization (TARE) and/or chemoembolization procedures (TACE). With a singular call point, interventional radiology, established reimbursement, and targeting an already established procedure, we believe that TLSI’s device business is an execution story with significant upside potential from its Phase 1 development drug."

For an analyst ratings summary and ratings history on TriSalus Life Sciences, Inc. click here. For more ratings news on TriSalus Life Sciences, Inc. click here.

Shares of TriSalus Life Sciences, Inc. closed at $7.50 yesterday.

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