TriSalus Life Sciences initiated with a Buy at Canaccord

Canaccord initiated coverage of TriSalus Life Sciences with a Buy rating and $12 price target. The analyst believes TriSalus is a “differentiated” growth company with both an expanding commercial medical technology 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 analyst tells investors in a research note. The firm sees TriSalus’ device business as an execution story with significant upside potential from its Phase 1 development drug.