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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, Inc. (NASDAQ:AVGR) announced the issuance of three new U.S. patents in March 2022, enhancing its intellectual property portfolio to 187 patents and pending applications. The patents strengthen coverage for Avinger's proprietary OCT imaging platform and its Pantheris and Tigereye devices. This expansion comes as Avinger aims to introduce new products, including the Lightbox 3 imaging console, and file 510(k) applications for two new devices in 2022. Avinger plans to leverage its growing portfolio to secure a competitive advantage in the vascular disease treatment market.
Avinger, Inc. (NASDAQ:AVGR), a medical device firm, announced on March 29, 2022, that it has regained compliance with Nasdaq listing requirements. The Nasdaq notified the company that it has met the minimum bid price rule necessary for continued listing on the Nasdaq Capital Market. Avinger is known for its innovative intravascular image-guided catheter-based systems for the diagnosis and treatment of Peripheral Artery Disease (PAD), which affects millions globally. The company aims to transform vascular disease treatment through its Lumivascular platform.
Avinger, a medical device company, reported a 16% revenue increase in 2021, totaling $10.1 million. Q4 revenue was $2.4 million, impacted by COVID-19. Gross margin improved to 34% for the year. The company received 510(k) approval for Pantheris to treat in-stent restenosis and launched the Lightbox 3 imaging console. Despite challenges from hospital constraints and staffing shortages, they maintained a strong cash position of $19.5 million as of year-end 2021. A reverse stock split occurred on March 14, 2022, for Nasdaq compliance.
Avinger, Inc. (NASDAQ:AVGR) will announce its Q4 and full year 2021 financial results after the market closes on March 22, 2022. The company specializes in treating Peripheral Artery Disease (PAD) with its unique intravascular image-guided, catheter-based system. A conference call will follow at 1:30 PM PT / 4:30 PM ET, which can be accessed via telephone or live webcast on Avinger's investor relations page. A recording will be available post-call on their website.
Avinger, Inc. (NASDAQ:AVGR) announced a 1-for-20 reverse stock split effective March 14, 2022, at 5:00 p.m. Eastern time. This is aimed at meeting Nasdaq's $1.00 minimum bid price requirement for continued listing and fulfilling obligations related to new Series D Preferred Stock and warrants. Following the split, outstanding shares will decrease from approximately 95.6 million to 4.8 million. Proportional adjustments will be made to options and warrants. The common stock will trade on a reverse split basis starting March 15, 2022.
Avinger, Inc. (NASDAQ: AVGR) has announced the deployment of its Lightbox 3 imaging console in four more hospitals across Pennsylvania and New Jersey, enhancing patient treatment for Peripheral Artery Disease (PAD). The Lightbox 3 allows real-time, high-definition intravascular imaging, which has shown improved clinical outcomes. With its portable design, setup is quick and easy, promoting efficiency in treatment. Following FDA clearance, Avinger anticipates full commercial availability in early Q2 2022, opening new revenue opportunities for its innovative medical technology.
Avinger, Inc. (NASDAQ:AVGR) has successfully completed its first cases using the newly launched Lightbox 3 imaging console designed for treating Peripheral Artery Disease (PAD). The Lightbox 3 received FDA 510(k) clearance in January 2022, and its limited rollout is set to expand by Q2 2022. In initial procedures, performed by Dr. Golzar and Dr. Cawich, positive outcomes were reported for all 15 patients treated. The console offers enhanced imaging and a user-friendly interface, promising improved clinical workflows and reduced reliance on contrast dye for patient safety.
Avinger, Inc. (NASDAQ:AVGR) has closed a registered direct offering of 7,600 shares of Series D convertible preferred stock and warrants, raising $7.6 million in gross proceeds. The preferred stock, convertible into 19,000,000 shares of common stock at $0.40, will only convert post a reverse stock split. The warrants allow purchase of up to 16,150,000 shares at $0.48, exercisable after the split amendment. Proceeds will be used for general corporate purposes. A special meeting is expected for stockholder approval of the reverse split.
Avinger, Inc. (NASDAQ:AVGR) announced a registered direct offering of 7,600 shares of Series D convertible preferred stock and warrants to purchase 16,150,000 shares of common stock, targeting gross proceeds of $7.6 million. The preferred shares are convertible into 19 million shares at a price of $0.40 per share, subject to a reverse stock split. With H.C. Wainwright & Co. as the placement agent, the proceeds will be applied to general corporate purposes. A special stockholder meeting is planned to approve the reverse split amendment, affecting the offering's timeline.
Avinger, Inc. (NASDAQ:AVGR) announced 510(k) FDA clearance for its new Lightbox 3 imaging console, enhancing imaging capabilities for treating Peripheral Artery Disease (PAD). The console is notably smaller, portable, and cost-effective, designed to boost account acquisition and streamline technology adoption in PAD centers. Anticipated to launch in early Q1 2022, Lightbox 3 features advanced imaging and a user-friendly interface, promising improved patient outcomes. Avinger is dedicated to revolutionizing vascular disease treatment with its Lumivascular technology.
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