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 (AVGR) is a pioneer in image-guided therapies for vascular disease, developing catheter-based systems that integrate real-time imaging with precision treatment. This page serves as the definitive source for verified news and official updates about the company’s medical device innovations and market developments.
Investors and healthcare professionals will find timely information on product launches, clinical trial results, and strategic partnerships related to Avinger’s Lumivascular platform. The curated collection includes updates on FDA clearances, technology advancements in OCT-guided procedures, and progress in treating peripheral artery disease.
Content spans regulatory milestones, financial disclosures, and research collaborations that impact Avinger’s position in the $5B+ vascular intervention market. All materials are sourced from official releases to ensure accuracy and compliance with financial reporting standards.
Bookmark this page for streamlined access to essential AVGR developments. Check regularly for updates on next-generation atherectomy devices and emerging applications in coronary artery disease treatment.
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.
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.
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.
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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