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Avinger, Inc. (NASDAQ: AVGR) is a commercial-stage medical device company committed to transforming the treatment of Peripheral Artery Disease (PAD) through innovative, image-guided, catheter-based systems. Founded and headquartered in Redwood City, California, Avinger designs, manufactures, and sells its proprietary Lumivascular platform, which includes the Lightbox imaging console, the Ocelot family of catheters for penetrating chronic total occlusions (CTOs), and the Pantheris family of atherectomy devices for removing arterial plaque.
Avinger's mission is to significantly improve clinical outcomes for PAD patients by offering precision and real-time imaging that enhances both diagnosis and treatment. The company's groundbreaking products are developed to address the needs of over 200 million PAD patients worldwide.
Key highlights of Avinger's product lineup include:
- Lightbox Imaging Console: An advanced system providing real-time intravascular imaging.
- Ocelot Catheters: Designed for crossing chronic total occlusions with precision.
- Pantheris Atherectomy Devices: The first-ever image-guided devices for the removal of arterial plaque.
- Tigereye ST CTO-Crossing Catheter: Launched to significant market enthusiasm, providing enhanced performance for complex procedures.
Recent financial disclosures indicate that Avinger is actively expanding its commercial footprint. The company recently reported financial results for the third quarter of 2023, with total revenue of $1.8 million and notable developments including the launch of the Tigereye ST and Pantheris LV systems. Despite a net loss of $4.5 million, Avinger continues to invest in product development and sales expansion, primarily in the United States.
A key strategic move for Avinger has been the newly formed partnership with Zylox-Tonbridge, a leading Chinese medical device company. This collaboration is set to provide up to $15 million in equity funding and facilitate Avinger's entry into the Greater China market. The partnership also aims to enhance manufacturing efficiency and explore new revenue opportunities through product distribution in the U.S. and Germany.
In addition to advancing its peripheral products, Avinger is making strides in the coronary space. The company is developing a new image-guided system for treating coronary artery disease (CAD), with plans to file an Investigational Device Exemption (IDE) application with the FDA by mid-2024. This development emphasizes Avinger's commitment to addressing unmet medical needs across both peripheral and coronary segments.
For the most current updates and detailed information on Avinger, Inc., their products, financial reports, and more, please visit their official website at www.avinger.com.
Avinger, a commercial-stage medical device company, reported a revenue of $2.1 million for Q2 2022, marking a 13% increase from Q1 2022 but a decrease from $2.8 million in Q2 2021. The gross margin improved to 31%. The company launched the Lightbox 3 imaging console, filed a 510(k) for the Tigereye ST catheter, and advanced development of the Pantheris LV. Avinger maintained a cash position of $16 million and raised an additional $5 million in August 2022. The net loss for Q2 2022 was $4.2 million, a reduction from $5.1 million in Q1 2022.
Avinger, Inc. (NASDAQ:AVGR) announced a definitive agreement for a registered direct offering and private placement, totaling approximately $5 million in gross proceeds. The company will issue 1,484,019 shares of common stock and 1,369,864 shares in a private placement at a price of $1.752 per share. Avinger intends to use the net proceeds for working capital, R&D, and potentially acquiring complementary products. The offerings are expected to close around August 8, 2022.
Avinger, Inc. (NASDAQ:AVGR) announced the submission of a 510(k) application to the FDA for its Tigereye ST catheter, an advanced system for treating Peripheral Artery Disease (PAD). This next-gen catheter features an innovative design that enhances crossing capabilities across chronic total occlusions (CTOs). With a working length of 140 cm, the device is compatible with 5 French sheaths, aiming to improve patient outcomes. CEO Jeff Soinski highlights that this device could significantly boost growth, building on a 47% increase the previous year in their CTO business.
Avinger, a medical device company focused on Peripheral Artery Disease (PAD), announced its expansion into the Chilean market with the launch of the Lumivascular product line.
The exclusive distribution agreement with Importadora y Distribuidora Arquimed Ltda will facilitate the sale of Avinger's Lightbox 3 imaging console and associated catheters. The Lightbox 3 is designed to enhance imaging capabilities during procedures, potentially improving patient outcomes without using ionizing radiation.
This move reflects Avinger's strategic growth and commitment to bringing innovative medical technologies to new regions.
Avinger, Inc. (NASDAQ:AVGR) showcased its Lumivascular technology at the Leipzig Interventional Course (LINC) 2022, held June 6-9, highlighting advancements in treating Peripheral Artery Disease (PAD). Key presentations by Dr. Arne Schwindt and Dr. Michael Lichtenberg emphasized the efficacy of the Pantheris OCT-guided atherectomy system in addressing in-stent restenosis with an impressive 93% freedom from target lesion revascularization at six months. A live case demonstrated successful treatment outcomes, reinforcing the technology's role in improving patient care while minimizing radiation exposure.
Avinger, Inc. (NASDAQ:AVGR) announced two podium presentations at the New Cardiovascular Horizons (NCVH) conference, featuring its Lumivascular technology for treating Peripheral Artery Disease (PAD). Key cardiologists highlighted Avinger's OCT-guided systems, demonstrating significant clinical results. Notably, the Pantheris SV showed 93% freedom from revascularization and 94% patency after 12 months. The technology enhances procedural safety and efficacy, reducing radiation exposure for healthcare workers. Avinger aims to revolutionize PAD treatment with its proprietary imaging devices.
Avinger, Inc. (Nasdaq:AVGR) held a significant presentation featuring its Lumivascular technology at the CLI Congress and Masterclass Münster in Germany. Dr. Arne Schwindt highlighted the effectiveness of the Pantheris OCT-guided atherectomy device in treating critical limb ischemia (CLI), showcasing successful patient outcomes. Avinger's platform is designed to provide real-time imaging during procedures, enhancing the precision of treatment for Peripheral Artery Disease (PAD). Avinger aims to reduce amputations through its innovative approach, which currently addresses a significant global health issue affecting over 200 million people.
Avinger, Inc. (NASDAQ:AVGR) reported first-quarter 2022 revenue of $1.9 million, down from $2.6 million in the same period last year, impacted by COVID-19-related hospital staffing shortages. The gross margin decreased to 28%, compared to 35% in Q1 2021. Operating expenses slightly reduced to $5.2 million, while the net loss remained consistent at $5.1 million. The company maintained a cash position of $20.0 million, bolstered by a $7.6 million capital raise in January 2022. Avinger has launched its Lightbox 3 imaging console and is progressing with new catheter developments.
Avinger, Inc. (Nasdaq: AVGR) will announce its Q1 2022 financial results on May 10, 2022, after market close. The company, focused on Peripheral Artery Disease (PAD)Avinger's website.
Avinger, Inc. (NASDAQ:AVGR) announced the full commercial availability of its Lightbox 3 imaging console, designed to enhance vascular disease treatment. Following FDA's 510(k) clearance in January, the product has been used at 12 clinical sites with positive physician feedback. The Lightbox 3 offers high-definition imaging, reducing reliance on contrast dye and improving operational efficiency. Its portability aims to accelerate new user adoption, contributing to increased productivity for Avinger's field teams and promoting device utilization.
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