2024 Q3 Form 10-Q Financial Statement

#000182666724000039 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $7.349M $7.364M $4.612M
YoY Change 41.52% 59.67%
Cost Of Revenue $1.004M $912.0K $772.0K
YoY Change 70.46% 18.13%
Gross Profit $6.345M $6.452M $3.840M
YoY Change 37.81% 68.02%
Gross Profit Margin 86.34% 87.62% 83.26%
Selling, General & Admin $10.87M $9.960M $8.412M
YoY Change -20.77% 18.4% 2818.1%
% of Gross Profit 171.24% 154.37% 219.06%
Research & Development $4.219M $4.666M $6.862M
YoY Change -54.96% -32.0%
% of Gross Profit 66.49% 72.32% 178.7%
Depreciation & Amortization $169.0K $194.0K $334.0K
YoY Change 1.81% -41.92%
% of Gross Profit 2.66% 3.01% 8.7%
Operating Expenses $15.08M $14.63M $15.27M
YoY Change -34.65% -4.24% 5198.5%
Operating Profit -$8.739M -$8.174M -$1.430M
YoY Change -52.7% 471.61% 396.05%
Interest Expense -$984.0K $877.0K -$3.572M
YoY Change -24700.0% -124.55% -1235.01%
% of Operating Profit
Other Income/Expense, Net -$13.00K -$44.00K $477.7K
YoY Change 0.0% -109.21% -80.0%
Pretax Income -$2.402M -$4.325M -$952.3K
YoY Change 86.78% 354.16% -139.44%
Income Tax -$3.000K $7.000K $42.72K
% Of Pretax Income
Net Earnings -$2.399M -$4.332M -$995.0K
YoY Change 86.55% 335.36% -141.7%
Net Earnings / Revenue -32.64% -58.83% -21.58%
Basic Earnings Per Share -$0.12 -$0.21 -$35.84
Diluted Earnings Per Share -$0.12 -$0.21 -$0.61
COMMON SHARES
Basic Shares Outstanding 29.31M shares 26.76M shares 446.3K shares
Diluted Shares Outstanding 26.50M shares 23.90M shares 446.3K shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.29M $16.48M $3.904M
YoY Change -47.21% 322.16% 5543.25%
Cash & Equivalents $11.29M $16.48M $104.0K
Short-Term Investments
Other Short-Term Assets $3.609M $3.311M $4.859M
YoY Change 21.23% -31.86% 2363.37%
Inventory $3.999M $3.443M $1.522M
Prepaid Expenses $3.609M $3.311M $57.48K
Receivables $4.912M $4.706M $2.094M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $23.81M $27.94M $161.5K
YoY Change -18.02% 17205.86% -39.4%
LONG-TERM ASSETS
Property, Plant & Equipment $1.818M $1.830M $3.207M
YoY Change -4.16% -42.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $424.0K $424.0K $367.0K
YoY Change 15.53% 15.53% -99.85%
Total Long-Term Assets $3.669M $4.490M $12.08M
YoY Change -18.7% -62.82% -95.18%
TOTAL ASSETS
Total Short-Term Assets $23.81M $27.94M $161.5K
Total Long-Term Assets $3.669M $4.490M $12.08M
Total Assets $27.48M $32.43M $12.24M
YoY Change -18.11% 165.01% -95.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.446M $1.976M $4.297M
YoY Change -23.85% -54.01% 461.52%
Accrued Expenses $7.877M $9.407M $9.490M
YoY Change 19.35% -0.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.918M $12.00M $6.031M
YoY Change 6.59% 98.91% 247.14%
LONG-TERM LIABILITIES
Long-Term Debt $21.68M $21.29M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $16.32M $23.30M $1.672M
YoY Change 3.51% 1293.36% -82.96%
Total Long-Term Liabilities $21.68M $21.29M $1.672M
YoY Change 37.53% 1173.09% -83.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.918M $12.00M $6.031M
Total Long-Term Liabilities $21.68M $21.29M $1.672M
Total Liabilities $47.91M $56.58M $15.31M
YoY Change 91.13% 269.51% 27.08%
SHAREHOLDERS EQUITY
Retained Earnings -$269.4M -$265.9M -$15.12M
YoY Change 26.58% 1658.71%
Common Stock $3.000K $2.000K
YoY Change 50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$20.43M -$24.15M -$15.12M
YoY Change
Total Liabilities & Shareholders Equity $27.48M $32.43M $12.24M
YoY Change -18.11% 165.01% -95.12%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.399M -$4.332M -$995.0K
YoY Change 86.55% 335.36% -141.7%
Depreciation, Depletion And Amortization $169.0K $194.0K $334.0K
YoY Change 1.81% -41.92%
Cash From Operating Activities -$10.85M -$13.42M -$19.04M
YoY Change -49.45% -29.5% 2632.54%
INVESTING ACTIVITIES
Capital Expenditures $169.0K $60.00K $38.00K
YoY Change -5.06% 57.89%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $164.0K
YoY Change -100.0% -100.0% 105.0%
Cash From Investing Activities -$169.0K -$60.00K $126.0K
YoY Change -87.17% -147.62% 57.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.823M 25.99M 13.41M
YoY Change -85.53% 93.79% 2012.28%
NET CHANGE
Cash From Operating Activities -10.85M -13.42M -19.04M
Cash From Investing Activities -169.0K -60.00K 126.0K
Cash From Financing Activities 5.823M 25.99M 13.41M
Net Change In Cash -5.193M 12.51M -5.500M
YoY Change -129.71% -327.47% -30236.99%
FREE CASH FLOW
Cash From Operating Activities -$10.85M -$13.42M -$19.04M
Capital Expenditures $169.0K $60.00K $38.00K
Free Cash Flow -$11.02M -$13.48M -$19.08M
YoY Change -49.08% -29.33%

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Nature of Business<div style="margin-top:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 10, 2023 (the "Closing Date"), TriSalus Life Sciences, Inc., a Delaware corporation (the “Company,” “TriSalus,” “we,” “us”), formerly known as MedTech Acquisition Corporation (“MTAC”), consummated the previously announced merger pursuant to the Agreement and Plan of Merger, dated as of November 11, 2022, as amended by that certain First Amendment to Agreement and Plan of Merger, dated as of April 4, 2023, the Second Amendment to Agreement and Plan of Merger, dated as of May 13, 2023, and the Third Amendment to Agreement and Plan of Merger, dated as of July 5, 2023 (as amended, the “Merger Agreement”), by and between MTAC Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of MTAC (“Merger Sub”) and TriSalus Operating Life Sciences, Inc. (formerly known as TriSalus Life Sciences, Inc.), a Delaware corporation (“Legacy TriSalus”), whereby Merger Sub merged with and into Legacy TriSalus with the separate corporate existence of Merger Sub ceasing (the “Merger” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”) and TriSalus Life Sciences, Inc. becoming the surviving company. The closing of the Business Combination is herein referred to as “the Closing.” In connection with the consummation of the Merger, on August 10, 2023, Legacy TriSalus changed its name from TriSalus Life Sciences, Inc. to TriSalus Operating Life Sciences, Inc., and MTAC changed its name from MedTech Acquisition Corporation to TriSalus Life Sciences, Inc., the surviving company ("New TriSalus”). As further described in Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(3) Business Combination</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Legacy TriSalus was deemed to be the accounting acquirer and predecessor company in the Business Combination. Thus, the prior periods presented in these condensed consolidated financial statements are of Legacy TriSalus.</span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Description of the Business</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are dedicated to the research, development, and commercialization of an innovative drug delivery technology platform and an immuno-oncology therapeutic, aimed at improving outcomes for patients with difficult-to-treat liver and pancreatic cancers. Our advanced technology is designed for use by interventional radiologists to enhance the delivery of therapeutics and improve patient outcomes. </span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We market our cutting-edge Pressure Enabled Drug Delivery (PEDD™) infusion systems, which optimize therapeutic delivery for hepatocellular carcinoma, pancreatic cancer, and other solid liver tumors. Additionally, we are developing nelitolimod, a TLR9 agonist with the potential to bolster the immune system's response. We are developing and marketing a product line — PEDD infusion systems, in use today—and we are developing a drug product candidate, nelitolimod, which has demonstrated a potential to enhance immune system response, when delivered via PEDD, in the treatment of hepatocellular cancer, pancreatic cancer and other liver solid tumors. The combination of our PEDD technology with nelitolimod is focused on solving the two main barriers in the tumor microenvironment that inhibits the success of systemic therapies. The first barrier (mechanical) is comprised of high intratumoral pressure within tumors that limits drug uptake and the second barrier (biological) is the reversal of intratumoral immunosuppression. Our PEDD with SmartValve™ is the only technology designed to work in synchrony with the cardiac cycle to open collapsed vessels in the tumor to enable deeper perfusion and improve therapeutic drug delivery in tumors with high intratumoral pressure. PEDD with SmartValve has been shown in prospective and retrospective clinical studies and in multiple pre-clinical models to improve therapy uptake and tumor response. nelitolimod has a dual mechanism of action in solid tumors which includes the alteration of the tumor microenvironment by reducing immunosuppressive myeloid derived suppressor cells while simultaneously activating immune response and recruiting T-cells to the tumor, allowing checkpoint inhibitors to work more effectively.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TriNav™ is the newest therapy delivery device with SmartValve technology for the proprietary PEDD approach. Current sales consist of the TriNav Infusion System, introduced in 2020, and a family of related guiding catheters. In 2020, we gained transitional pass-through payments (“TPT”) approval from the Centers for Medicare &amp; Medicaid Services (“CMS”), which allows hospitals to cover the cost of using TriNav. The approval expired at the end of 2023. On June 1, 2023, </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">we applied for a new technology APC code with CMS. In December 2023, CMS granted a New Technology Healthcare Common Procedure Coding System ("HCPCS") code for both mapping and therapeutic procedures involving TriNav. This new code, HCPCS C9797, has been assigned to the Ambulatory Payment Classification ("APC") code 5194 - Level 4 Endovascular procedures. The new code became effective on January 1, 2024, and may be reported by hospital outpatient departments and ambulatory surgical centers.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We believe the full potential of our technology can be realized through the combination of our drug delivery technology with immune-oncology drugs. In July 2020, we acquired our first immune-oncology drug, nelitolimod, and began clinical development of nelitolimod for treatment of liver and pancreatic cancers.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have funded operations to date principally with proceeds from the sale of preferred stock, from the issuance of debt and convertible debt, and the closing of the Business Combination. Since inception of the Company in 2009 through June 30, 2024, we have issued for cash $164,364 of preferred stock (of which $36,854 was raised at the closing of the Business Combination, including issuance of Series A convertible preferred stock), which, along with $7,315 from common stock and $57,466 from convertible notes and warrants, has funded our accumulated deficit of $265,928. During the six months ended June 30, 2024, we raised $6,743 in cash through the sale of common stock under the Standby Equity Purchase Agreement, which we entered into with YA II PN, Ltd. ("Yorkville") on October 2, 2023 (the "SEPA") and $12 from the exercise of stock options. See Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(13) Standby Equity Purchase Agreement</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for discussion of the SEPA.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 30, 2024 (the "OrbiMed Closing Date"), we entered into a Credit Agreement (the "Credit Agreement") with OrbiMed Royalty &amp; Credit Opportunities IV, LP ("OrbiMed"), a healthcare investment firm. Under the terms of the Credit Agreement, we may borrow up to $50,000, of which we immediately drew $25,000, before expenses. The remaining debt is available in two increments of $10,000 and $15,000, subject to the achievement of certain revenue targets. See Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(14) Debt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for further discussion.</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2024, we had cash, cash equivalents, and restricted cash of $16,831. The Company is still in its early stage, has a history of recurring operating losses, has yet to generate revenues sufficient to create positive cash flow and has an accumulated deficit of $265,928 as of June 30, 2024. We expect that our existing cash and cash equivalents will not be sufficient to fund our projected liquidity requirements for the next 12 months from the issuance date of the financial statements. If we are able to achieve certain targets specified in the Credit Agreement and are then able to draw the remainder of the funds available, and if market conditions allow us to sell additional shares under the SEPA, we believe we can fund our operations through the end of 2025.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC Topic 205-40, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Presentation of Financial Statements, Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, we are required to evaluate whether there is substantial doubt about our ability to continue as a going concern each reporting period. In evaluating our ability to continue as a going concern, management projected our cash flow sources and needs and evaluated the conditions and events that could raise substantial doubt about our ability to continue as a going concern within one year after the date that these condensed consolidated financial statements were issued. Management’s plans to address the conditions and events have considered our current projections of future cash flows, current financial condition, sources of liquidity and debt obligations for at least one year from the date of issuance of these condensed consolidated financial statements as to whether we have the ability to fund future operations and meet our obligations as they become due in the normal course of business.</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our ability to fund future operations and to continue the execution of our long-term business plan and strategy, including our transformation into a therapeutics company, will require that we raise additional capital through a combination of collaborations, strategic alliances and licensing arrangements, and issuance of additional equity and/or debt. As described in Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(13) Standby Equity Purchase Agreement</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, we have the right but not the obligation to sell up to $30,000 of our Common Stock at our request under the SEPA, subject to terms and conditions specified in the agreement. During the six months ended June 30, 2024, we sold 750,000 shares of common stock under the SEPA, raising $6,743. In addition, as described in Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(14) Debt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, in April 2024, we entered into a secured loan for up to $50,000, of which we immediately drew $25,000, before expenses. Outside of these agreements, there can be no assurance that we will be able to raise such additional financing or, if available, that such financing can be obtained on satisfactory terms. If adequate capital resources are not available on a timely basis, we intend to consider limiting our operations substantially. This limitation of operations could include a hiring freeze, reductions in our workforce, reduction in cash compensation, deferring clinical trials and capital expenditures, and reducing other operating costs.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our current operating plan, which is in part determined based on our most recent results and trends, along with the items noted above, causes substantial doubt to exist about our ability to continue as a going concern and management’s plans do not alleviate the existence of substantial doubt. Our financial statements have been prepared assuming we will continue as a going concern, which contemplates the continuity of normal business activities and realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments that might be necessary should we be unable to continue as a going concern.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are subject to various risks and uncertainties frequently encountered by companies in the early stages of growth, particularly companies in the rapidly evolving market for medical technology-based and pharmaceutical products and services. Such risks and uncertainties include, but are not limited to, a limited operating history, need for additional capital, a volatile business and technological environment, the process to test and obtain approval to market the candidate pharmaceutical, an evolving business model, and demand for our products. To address these risks, we must, among other things, gain access to capital in sufficient amounts and on acceptable terms, maintain and increase our customer base, implement and successfully execute our business strategy, develop the candidate pharmaceutical, continue to enhance our technology, provide superior customer service, and attract, retain, and motivate qualified personnel. There can be no guarantee that we will succeed in addressing such risks.</span></div>
CY2023Q3 tlsi Proceeds From Reverse Recapitalization
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6743000 usd
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:6.91pt">Use of Estimates</span>The preparation of the condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates. The most significant estimates relate to the valuation of earnout, warrant and tranche liabilities, and the valuation allowance on deferred tax assets.
CY2023Q3 tlsi Proceeds From Reverse Recapitalization Transaction
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6069000 usd
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350000 usd
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350000 usd
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3443000 usd
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25000 usd
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51000 usd
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51000 usd
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51000 usd
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51000 usd
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884000 usd
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3115000 usd
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0 usd
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37000 usd
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10556000 usd
CY2023Q3 tlsi Derivative Instrument Contingent Consideration Liability Earnout Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriod
P5Y
CY2023Q3 tlsi Derivative Instrument Contingent Consideration Liability Earnout Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriod
P5Y
CY2023Q3 tlsi Derivative Instrument Contingent Consideration Liability Earnout Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriod
P5Y
CY2023Q3 tlsi Derivative Instrument Contingent Consideration Liability Earnout Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriod
P5Y
CY2023Q3 tlsi Derivative Instrument Contingent Consideration Liability Earnout Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriod
P5Y
CY2023Q3 tlsi Derivative Instrument Contingent Consideration Liability Earnout Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriod
P5Y
CY2023Q3 tlsi Derivative Instrument Contingent Consideration Liability Earnout Period
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriod
P5Y
CY2023Q3 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
28927000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
18632000 usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
8931000 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
14345917 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
14215112 shares
tlsi Class Of Warrant Or Right Threshold Number Of Days For Warrants To Be Transferable
ClassOfWarrantOrRightThresholdNumberOfDaysForWarrantsToBeTransferable
P30D
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
1699000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 tlsi Standby Equity Purchase Agreement Term
StandbyEquityPurchaseAgreementTerm
P24M
CY2023Q4 tlsi Standby Equity Purchase Agreement Maximum Allowable Percentage Of Outstanding Common Stock
StandbyEquityPurchaseAgreementMaximumAllowablePercentageOfOutstandingCommonStock
0.1999
CY2024Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
400000 shares
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
750000 shares
CY2024Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
3602000 usd
us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
6743000 usd
CY2024Q2 tlsi Debt Instrument Paid In Kind Interest Term
DebtInstrumentPaidInKindInterestTerm
P15M
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2593000 usd
CY2024Q2 tlsi Warrant Liability
WarrantLiability
811000 usd
CY2024Q2 tlsi Revenue Base Redemption Feature Amount
RevenueBaseRedemptionFeatureAmount
729000 usd
CY2024Q2 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
445000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
25000000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2593000 usd
CY2024Q2 tlsi Revenue Base Redemption Feature Amount
RevenueBaseRedemptionFeatureAmount
729000 usd
CY2024Q2 tlsi Warrant Liability
WarrantLiability
811000 usd
CY2024Q2 us-gaap Preferred Stock Capital Shares Reserved For Future Issuance
PreferredStockCapitalSharesReservedForFutureIssuance
5984998 shares
CY2024Q2 tlsi Preferred Stock Dividends Undeclared Cumulative Dividends
PreferredStockDividendsUndeclaredCumulativeDividends
2860000 usd
CY2023Q3 tlsi Preferred Stock Automatic Conversion Period
PreferredStockAutomaticConversionPeriod
P4Y
CY2023Q3 tlsi Preferred Stock Conversion Price Automatic Reset Duration First Reset
PreferredStockConversionPriceAutomaticResetDurationFirstReset
P18M
CY2023Q3 tlsi Preferred Stock Conversion Price Automatic Reset Duration Second Reset
PreferredStockConversionPriceAutomaticResetDurationSecondReset
P47M
CY2023Q3 tlsi Preferred Stock Conversion Price Floor
PreferredStockConversionPriceFloor
2.10
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
25237155000 usd
us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
0 usd
CY2024Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
25237155000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
49504834 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20161418 shares
tlsi Number Of Equity Incentive Plans
NumberOfEquityIncentivePlans
2 plan
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
9523627 shares
CY2024Q2 tlsi Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesOutstanding
5411058 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
4112569 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
2385694 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
927 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1307613 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.11
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1
CY2024Q1 tlsi Common Stock Period Increase Decrease In Capital Shares Reserved For Future Issuance
CommonStockPeriodIncreaseDecreaseInCapitalSharesReservedForFutureIssuance
954278 shares
CY2024Q2 tlsi Lessee Number Of Operating Leases
LesseeNumberOfOperatingLeases
4 lease

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