TriSalus Life Sciences announces public stock offering

TriSalus Life Sciences, Inc. (NASDAQ: TLSI) announced it intends to offer shares of its common stock in an underwritten public offering. The oncology-focused medical technology company plans to sell all shares in the offering, with underwriters receiving a 30-day option to purchase up to 15% additional shares under the same terms.

Lake Street Capital Markets will serve as the sole book-runner for the proposed offering. The company stated the offering remains subject to market and other conditions, with no assurance regarding completion timing or final terms.

The shares are being offered under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on November 13, 2025, and declared effective December 4, 2025. A preliminary prospectus supplement and accompanying base prospectus will be filed with the SEC.

TriSalus develops drug delivery technologies for solid tumor treatments. The company's platform includes three FDA-cleared devices using its Pressure-Enabled Drug Delivery technology: the TriNav Infusion System and TriNav Infusion System LV for hepatic arterial infusion of liver tumors, and the Pancreatic Retrograde Venous Infusion System for pancreatic tumors.

The company is also developing nelitolimod, an investigational immunotherapeutic candidate designed as a class C Toll-like receptor 9 agonist. TriSalus stated it is completing final stages of data collection for several phase 1 clinical trials and will explore partnership opportunities for development.

The press release noted that it does not constitute an offer to sell securities and that any sales would be unlawful in jurisdictions lacking proper registration or qualification under securities laws.

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