Avinger, Inc. - AVGR STOCK NEWS

Avinger, Inc. (NASDAQ:AVGR) will release its financial results for Q4 and full year 2020 after market close on March 11, 2021. The company offers the first intravascular image-guided catheter-based system for diagnosing and treating Peripheral Artery Disease (PAD), which affects over 12 million people in the U.S. A conference call will follow at 1:30 PM PT/4:30 PM ET, with details available on the company’s website. A replay will be accessible post-call.

Avinger Inc. (AVGR) announced an underwriting agreement with Aegis Capital Corp. to sell 10 million shares of common stock at a public price of $1.44 per share, representing a 10% discount from the January 28, 2021 closing price. The offering aims to raise capital for working and corporate expenses, including R&D, regulatory submissions, and potential acquisitions. The anticipated closing date is around February 2, 2021. The shares are being offered under the company's shelf registration statement with the SEC.

Avinger, Inc. (NASDAQ:AVGR) announced it has regained compliance with Nasdaq listing requirements as of January 26, 2021. This compliance relates to the minimum bid price rule necessary for continued listing on the Nasdaq Capital Market. Avinger specializes in innovative medical devices for the diagnosis and treatment of Peripheral Artery Disease (PAD), a condition affecting over 12 million people in the U.S. and more than 200 million globally. The company's Lumivascular platform includes advanced imaging and catheter technologies.

Avinger, Inc. (NASDAQ:AVGR) announced a loan amendment with CRG Partners III L.P. on January 22, 2021, enhancing liquidity by approximately $14.2 million through extending the interest-only period and maturity date of its term loan. The interest-only period now extends to December 31, 2023, while the maturity date has been pushed to December 31, 2025. This change allows Avinger to defer payments, improve financial stability, and focus on revenue growth and device launches, according to CEO Jeff Soinski.

Avinger, Inc. (AVGR) announced significant growth in its intellectual property portfolio with the issuance of 19 new patents in 2020, including 10 in the U.S. and 9 internationally. This expansion reinforces Avinger's leadership in the treatment of Peripheral Artery Disease (PAD) with its unique intravascular imaging technology. The company's patent portfolio now totals 179, enhancing its competitive edge in the market. Looking ahead, Avinger plans to advance its next-generation imaging console, Lightbox 3, through regulatory processes, revealing potential revenue growth opportunities.

Avinger, Inc. (NASDAQ:AVGR) announced the full commercial launch of its Tigereye™ image-guided chronic total occlusion (CTO) crossing system on January 15, 2021. Following a limited launch in Q4 2020, where approximately 50 successful CTO cases were performed at 12 clinical sites in the U.S. and Germany, the Tigereye device is now available for order in these markets. The device features high-definition intravascular imaging and capabilities designed to enhance treatment efficiency for complex PAD cases. Avinger aims for increased revenue growth opportunities in 2021 through its advanced product offerings.

Avinger, Inc. (NASDAQ:AVGR) will participate in the H.C. Wainwright Bioconnect 2021 Conference from January 11-14, 2021. The company will present a pre-recorded session available on-demand starting January 11. Additionally, Avinger executives will host one-on-one meetings with institutional investors during the conference dates. The company, which focuses on image-guided systems for diagnosing and treating Peripheral Artery Disease (PAD), aims to transform vascular disease treatment through its innovative products, including the Lumivascular platform.

Avinger, Inc. (Nasdaq:AVGR) announced results from its Annual Meeting held on December 23, 2020. Key proposals included electing a director, ratifying the public accountant, and a reverse stock split. While the majority voted in favor of the reverse split, it failed to achieve the necessary majority of outstanding shares. CEO Jeff Soinski emphasized plans for 2021, including the commercial launch of the Tigereye CTO device and advancements in the Lightbox 3 imaging console. Avinger remains well-capitalized for its growth strategy despite the reverse split setback.

Avinger, Inc. (AVGR) has adjourned its annual stockholder meeting to December 23, 2020, to continue soliciting votes for Proposal 3, a reverse stock split. A quorum was present, but only 60% of votes cast supported the proposal, falling short of the majority needed. Approval is crucial to maintain Nasdaq listing compliance. CEO Jeff Soinski emphasized the need for immediate votes to avoid additional costs. Institutional advisors ISS and Glass Lewis endorse the proposal, viewing it as vital for Avinger's future. The company has a solid financial position to support growth plans for 2021.