Avinger, Inc. - AVGR STOCK NEWS

Avinger, Inc. (NASDAQ:AVGR) presented its Lumivascular technology at the New Cardiovascular Horizons (NCVH) annual conference from June 1-4, 2021, in New Orleans. Key opinion leaders emphasized its benefits in treating Peripheral Artery Disease (PAD) using proprietary OCT-guided platforms. Dr. Jon George and Dr. Tom Davis highlighted the precision of Avinger's atherectomy catheters, particularly the Pantheris device. With approximately 12 million PAD cases in the U.S., Avinger's innovative Lumivascular system aims to improve treatment efficacy while minimizing patient exposure to ionizing radiation.

Avinger, Inc. (NASDAQ:AVGR) announced on May 25, 2021, the issuance of seven U.S. patents, enhancing its intellectual property portfolio to 182 patents, including 41 in the U.S. These patents primarily pertain to Avinger's proprietary optical coherence tomography (OCT) systems and related catheters for treating vascular diseases. The CEO emphasized that this expanding portfolio underpins their competitive advantage in the market for the first and only intravascular OCT-guided therapeutic catheters, as well as future products like the Lightbox 3 imaging console.

Avinger, Inc. (NASDAQ:AVGR) announced that its management will hold investor meetings on May 26, 2021, during the Oppenheimer MedTech, Tools & Diagnostics Summit. As the first company to offer an intravascular image-guided, catheter-based system for diagnosing and treating Peripheral Artery Disease (PAD), Avinger aims to transform vascular disease treatment through its Lumivascular platform. PAD impacts over 12 million people in the U.S. and more than 200 million globally. Interested institutional investors can schedule meetings through Oppenheimer or by contacting Matt Kreps.

Avinger reported a 13% year-over-year increase in revenue for Q1 2021, totaling $2.6 million, driven by the successful launch of the Tigereye device and growth in Pantheris SV sales. Gross margin improved by 13 percentage points to 35%. The company expanded its commercial reach, opening 8 new accounts in Q1. Cash reserves increased to $30.4 million, sufficient to support growth initiatives through 2022. Avinger also reported a net loss of $5.1 million, a decrease from $5.9 million in Q1 2020.

Avinger, Inc. (NASDAQ:AVGR) is set to release its financial results for Q1 2021 on May 6, 2021, after market close. The company, a leader in intravascular imaging technology for diagnosing and treating Peripheral Artery Disease (PAD), will host a conference call at 1:30 PM PT/4:30 PM ET. The call can be accessed by dialing +1-862-298-0850 or via a live webcast on its investor relations page. Avinger focuses on revolutionizing vascular disease treatment with its Lumivascular platform, impacting over 12 million PAD patients in the U.S.

Avinger, Inc. (NASDAQ:AVGR) announced the publication of two clinical studies supporting the advantages of its OCT-guided therapeutic devices for the treatment of Peripheral Artery Disease (PAD). Conducted at the Einstein Medical Center, the studies indicate a significant reduction in stenosis and target lesion revascularization (TLR) rates after treating patients with the Pantheris SV catheter. Results show stenosis decreased from 85% to 21.5% with a TLR freedom rate of 90.5% at six months. Avinger aims to enroll 60 patients in the IMAGE-BTK clinical study to validate these findings.

Avinger, Inc. (NASDAQ:AVGR) announced that over 100 accounts have purchased its Pantheris SV OCT-guided atherectomy catheters since their launch in Q3 2019, marking a significant milestone. In 2020 alone, Avinger sold over 1,700 Pantheris SV catheters, achieving more than 100% revenue growth from the previous year. The Pantheris SV device enhances treatment options for Peripheral Artery Disease (PAD), particularly in small vessels below-the-knee. Avinger aims to expand its addressable procedures significantly with this product line extension.

Avinger, Inc. (NASDAQ:AVGR) has successfully launched the Tigereye CTO Crossing Catheters for treating Peripheral Artery Disease (PAD). Initiated in January 2021, the full commercial launch has reached 30 clinical sites with over 160 procedures completed. Revenue from Tigereye is projected to increase combined Lumivascular CTO revenue by approximately 60% for Q1 2021 compared to the previous year. The device's advanced imaging capabilities allow for safer and more effective interventions, reducing the need for more invasive procedures.

Avinger reported a strong performance in Q4 2020, with total revenue increasing by 19% sequentially to $2.7 million, the highest in three years. Image-guided CTO revenue surged 38% due to the limited launch of the new Tigereye device. Gross margin improved to 36%, and nine new Lumivascular accounts were opened. Despite a net loss of $4.6 million, Avinger ended the year with $22.2 million in cash, bolstered by an additional $13 million raised in early 2021. The company is set to launch new products and expand into the CAD market in 2021.