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Avinger, Inc. - AVGR STOCK NEWS

Welcome to our dedicated page for Avinger news (Ticker: AVGR), a resource for investors and traders seeking the latest updates and insights on Avinger stock.

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.

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Avinger announced the closing of a $6 million public offering, with potential gross proceeds of up to $24 million if Series Warrants are fully exercised. The offering included 3,614,457 shares of common stock and Series Warrants (A-1, A-2, A-3) at $1.66 per share. The proceeds will be used for working capital and corporate purposes. H.C. Wainwright & Co. acted as the placement agent. The Series Warrants have varying expiration terms based on FDA approvals. This announcement follows the SEC's approval of the registration statement on June 13, 2024.

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Avinger has announced a public offering of 3,614,457 shares of its common stock, along with Series A-1, A-2, and A-3 warrants. Each share and accompanying warrants are priced at $1.66, aiming to raise $6 million upfront. The warrants could generate an additional $18 million if fully exercised, but there are no assurances they will be. The A-1 warrants expire within five years or 60 days post-FDA clearance of a new coronary device. The A-2 warrants expire within 24 months or 60 days post-510(k) clearance, while the A-3 warrants expire within nine months or 60 days post-FDA approval of an IDE application. H.C. Wainwright is the placement agent, and the offering closes around June 17, 2024. Funds will be used for working capital and general corporate purposes.

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Avinger (NASDAQ:AVGR) announced a strategic shift to focus on its coronary artery disease program, leveraging its proprietary image-guided technology. The company aims to address unmet needs in the coronary market by developing an innovative therapeutic system. As part of this move, Avinger will reduce operating costs in its peripheral artery disease business by cutting headcount by 33%, expecting significant cost savings in the second half of 2024. Avinger plans to file an IDE application with the FDA later this year and start a clinical trial post-approval. The company supports its strategic partner's efforts for product registration in China and expects a U.S. launch of the Pantheris LV catheter in Q3 2024.

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Avinger has converted $11 million, or about 80%, of its debt with CRG Partners into convertible preferred stock, reducing outstanding debt to $2.6 million. This move boosts stockholders' equity by $11 million, aiding Avinger's compliance with Nasdaq equity standards. The conversion is part of Avinger's strategy to expand its intravascular image-guided technology and coronary artery disease platform.

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Avinger (Nasdaq: AVGR), a medical device company specializing in image-guided systems for vascular disease, reported Q1 2024 revenue of $1.9 million with an 18% gross margin. Operating expenses rose to $5.4 million, resulting in a net loss of $5.5 million. The company initiated Phase III studies for its coronary CTO-crossing system and announced a $15 million equity funding agreement with Zylox-Tonbridge, opening access to the Chinese market. Avinger also exchanged $61 million Series A preferred stock for $10 million Series A-1 stock with no liquidation or dividend preference.

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Avinger, Inc. (NASDAQ:AVGR) will announce its first quarter 2024 financial results on May 15, 2024. The commercial-stage medical device company specializes in intravascular image-guided, catheter-based systems for diagnosing and treating vascular diseases. The earnings release will be followed by a conference call and webcast.

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Avinger, Inc. (AVGR) announces a strategic partnership with Zylox-Tonbridge, securing up to $15 million in funding for U.S. growth initiatives and coronary product development. The partnership also opens doors for sales in Asia. Fourth-quarter revenue reaches $1.9 million with a 5% sequential increase, while the gross margin stands at 20%. Expansion of sales team and commercial launch of Tigereye ST and Pantheris LV devices highlight the company's progress. Avinger's President and CEO, Jeff Soinski, expresses enthusiasm for the partnership and outlines strategic benefits for global sales and revenue growth.
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Avinger, Inc. (AVGR) will release its financial results for Q4 and full year 2023 on March 20, 2024. The company, a leader in intravascular image-guided medical devices for vascular disease, will host a conference call for investors and analysts. Details to join the call are provided in the press release.
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Avinger, Inc. (AVGR) announces a strategic partnership with Zylox-Tonbridge Medical Technology Co., Ltd. to access the Greater China market. The partnership includes a $15 million equity funding, licensing agreement, and technology transfer to expand Avinger's product reach. The deal also involves a three-year extension of existing debt terms, strengthening Avinger's balance sheet.
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Avinger, Inc. reported third-quarter results with revenue of $1.8 million and a gross margin of 21%. They launched the Tigereye ST CTO-crossing device and the Pantheris LV image-guided atherectomy device. They also announced the development of an image-guided coronary CTO-crossing system. Phil Preuss was named Chief Commercial Officer to lead sales force expansion. Avinger plans to increase their direct sales force by more than 25% in Q4. They are making progress on their first coronary product and anticipate filing an IDE application with the FDA by mid-2024. Total revenue decreased compared to the previous quarter, while gross margin and operating expenses remained consistent. Net loss for the quarter was $4.5 million. Cash and cash equivalents totaled $8.7 million as of September 30, 2023.
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FAQ

What does Avinger, Inc. do?

Avinger, Inc. designs, manufactures, and sells image-guided, catheter-based systems for the treatment of Peripheral Artery Disease (PAD).

What are Avinger's main products?

Avinger's main products are the Lightbox imaging console, Ocelot catheters for CTOs, and Pantheris atherectomy devices.

Where is Avinger, Inc. based?

Avinger, Inc. is based in Redwood City, California, USA.

How is Avinger expanding its market presence?

Avinger is expanding through new product launches, increasing its sales team, and forming strategic partnerships, such as with Zylox-Tonbridge in China.

What recent financial results has Avinger reported?

For the third quarter of 2023, Avinger reported a revenue of $1.8 million and a net loss of $4.5 million.

What is the significance of Avinger's partnership with Zylox-Tonbridge?

The partnership with Zylox-Tonbridge will provide up to $15 million in equity funding, help Avinger enter the Greater China market, and improve manufacturing efficiency.

Is Avinger developing any new products?

Yes, Avinger is developing a new image-guided system for coronary artery disease (CAD) and plans to file an IDE application with the FDA by mid-2024.

What is Avinger's mission?

Avinger's mission is to radically change the treatment of vascular disease through its innovative Lumivascular platform.

How can I get more information about Avinger, Inc.?

For more information, you can visit Avinger's official website at www.avinger.com.

What are Avinger's latest product launches?

Avinger has recently launched the Tigereye ST CTO-crossing catheter and the Pantheris LV image-guided atherectomy system.

Avinger, Inc.

Nasdaq:AVGR

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3.37M
2.03M
24.69%
5.79%
5.61%
Surgical and Medical Instrument Manufacturing
Manufacturing
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United States of America
REDWOOD CITY