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Overview of Avinger Inc
Avinger Inc is a commercial-stage medical device company headquartered in Redwood City, California, that is redefining the treatment landscape for vascular disease. With its innovative image-guided and catheter-based systems, the company focuses on the diagnosis and treatment of peripheral artery disease (PAD) while also developing applications for coronary artery disease. The core of Avinger's technology is its proprietary Lumivascular platform, which integrates advanced optical coherence tomography (OCT) with therapeutic catheter systems to enable real-time, intravascular imaging and precision intervention.
Innovative Lumivascular Platform
Avinger's Lumivascular platform represents a significant evolution in the field of interventional medicine. By combining high-resolution OCT imaging with specialized catheter devices, physicians are empowered to visualize arterial structures from within, ensuring safer navigation and enhanced treatment precision. This unique image-guided approach addresses long-standing challenges in treating chronic total occlusions (CTOs) and complex PAD lesions, reducing the reliance on traditional X-ray imaging and subjective tactile feedback.
Product Suite and Clinical Applications
The company's product portfolio is designed to span the full spectrum of vascular interventions. Key components include:
- Lightbox Imaging Console: A portable, high-definition imaging system that displays real-time OCT images.
- Ocelot and Tigereye Catheters: A family of devices created to penetrate total arterial blockages, particularly targeting chronic total occlusions.
- Pantheris Atherectomy Devices: The first image-guided atherectomy system specifically designed for precise plaque removal in PAD patients.
These devices not only facilitate more predictable procedural outcomes but also streamline the complex workflows typical of vascular interventions. The integration of advanced imaging ensures that physicians have comprehensive, intraprocedural visibility, which is critical when addressing both below-the-knee and above-the-knee lesions.
Competitive Landscape and Market Position
Avinger operates at the intersection of medical imaging and interventional therapy, a niche that requires extraordinary expertise in both engineering and clinical practice. Despite operating in a competitive medical device field, Avinger distinguishes itself through its sole focus on image-guided interventions. Its technology helps physicians achieve better procedural accuracy, potentially reducing operating times and enhancing patient safety. The company's methodical approach to innovation, combined with strategic partnerships and a robust patent portfolio, reinforces its position as a unique entity in the vascular therapy market.
Clinical Impact and Technological Advantages
The image-guided systems developed by Avinger are grounded in a deep understanding of vascular pathophysiology and interventional challenges. By offering real-time visualization during catheter-based procedures, the company addresses critical issues such as imprecise navigation and the risks associated with radiation exposure. This technological advantage provides a more intuitive and evidence-based approach to traversing occlusive lesions, thereby contributing to improved clinical outcomes. Additionally, the use of established reimbursement codes for various procedures facilitates smoother clinical adoption.
Commitment to Quality and Industry Expertise
Avinger's commitment to quality is evident in the rigorous design and development processes that underpin its products. The company continuously seeks to enhance its clinical evidence through robust studies and post-market evaluations. By integrating feedback from leading physicians and leveraging state-of-the-art imaging technologies, Avinger not only meets but often exceeds industry standards, bolstering its reputation for expertise and trustworthiness in the medical device community.
Conclusion
In summary, Avinger Inc offers a transformative approach to vascular disease treatment with its Lumivascular platform. The company's comprehensive suite of image-guided devices is tailored to address some of the most challenging aspects of interventional vascular therapy. Through innovation, strategic market positioning, and a clear focus on clinical excellence, Avinger continues to set new benchmarks in the diagnosis and treatment of both peripheral and coronary vascular diseases.
Avinger (Nasdaq: AVGR), a medical device company, announced that CFO Mark Weinswig will attend the Q1 Virtual Investor Summit from March 23-25, 2021. Weinswig will present on March 23rd at 4:40 PM ET and will be available for one-on-one meetings. The summit features over 100 companies and 300 investors, focusing on small and micro-cap companies. Avinger specializes in treating Peripheral Artery Disease (PAD), which affects over 12 million people in the U.S.
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.
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