Avinger

Avinger, Inc. is a commercial-stage medical device company, which engages in the designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral artery disease. Its products include Pantheris, Lightbox, Ocelot, Wildcat, Juicebox, and Kittycat. The company was founded by John B. Simpson and Himanshu N. Patel on March 8, 2007 and is headquartered in Redwood City, CA.

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Avinger reports Q1 revenue growth, secures China partnership for expansion

Avinger's Q1 2024 performance showed revenue growth but challenges in profitability.
Strategic partnerships and product development present growth opportunities.
Financial restructuring and cost management are crucial for future success.

Avinger reports improved Q3 performance and strategic growth initiatives

Avinger's Q3 2024 performance showed operational improvements and cost-saving initiatives, leading to reduced losses.
The company's strategic partnerships and focus on innovation position them for growth opportunities in the medical device market.
While challenges persist, Avinger's progress in commercialization and partnerships signal a path towards financial stability.

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Avinger, Inc. (NASDAQ:AVGR ) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Matthew Kreps - Investor Relations Jeffrey Soinski - Chief Executive Officer Nabeel Subainati - Principal Financial Officer Conference Call Participants Swayampakula Ramakanth - H.C. Wainwright Operator Good day, and welcome to the Avinger Third Quarter 2024 Results Conference Call.

Avinger, Inc. (AVGR) Q3 2024 Earnings Call Transcript

Avinger (AVGR) came out with a quarterly loss of $1.82 per share versus the Zacks Consensus Estimate of a loss of $2.03. This compares to loss of $2.92 per share a year ago.

Avinger (AVGR) Reports Q3 Loss, Tops Revenue Estimates

Lower Operating Cost Profile Drives Improved Productivity, Increased Gross Margin REDWOOD CITY, CA / ACCESSWIRE / November 7, 2024 / Avinger, Inc. (Nasdaq:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today reported results for the third quarter ended September 30, 2024. Third Quarter and Recent Highlights Reported third quarter 2024 revenue of $1.7 million, sequentially increased gross margin to 26%.

Avinger Reports Third Quarter 2024 Results

REDWOOD CITY, CA / ACCESSWIRE / October 29, 2024 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of vascular disease, today announced that it will release its financial results for the third quarter 2024 after the close of trading on Thursday, November 7, 2024. The Company will host a conference call beginning at 1:30pm PT/4:30pm ET.

Avinger to Announce Third Quarter 2024 Results on November 7, 2024

REDWOOD CITY, CA / ACCESSWIRE / October 24, 2024 / Avinger, Inc. (Nasdaq:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of vascular disease hosted a physician-focused webinar entitled, "New Approaches to Treating Peripheral Artery Disease (PAD) Below-the-Knee (BTK) and Promising New BTK Data." A recording of the webinar may be accessed at https://pages.avinger.com/webinar-new-approaches-to-treating-btk-pad.

Avinger Releases Updated Data From IMAGE-BTK in Webinar Featuring Key Opinion Leaders in the Field of Vascular Intervention

REDWOOD CITY, CA / ACCESSWIRE / September 18, 2024 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today announced the issuance of a new U.S. patent and the allowance of five additional U.S. patents that are expected to issue over the next four months. These patents expand intellectual property protection for Avinger's proprietary image-guided system and devices for both peripheral and coronary applications.

Avinger Announces Issuance of New U.S. Patent and Receives Notices of Allowance for Five Additional U.S. Patents

Avinger (AVGR) fully launches Pantheris LV, the first image-guided atherectomy system for large vessels, thus enhancing peripheral artery disease treatment with advanced technology.

Avinger (AVGR) Launches Pantheris LV to Boost PAD Treatment

REDWOOD CITY, CA / ACCESSWIRE / August 20, 2024 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of vascular disease, today announced full commercial launch of the Pantheris LV image-guided directional atherectomy system. With the initiation of full commercial launch, all current and prospective accounts can now order the Pantheris LV device, a line extension of the first and only image-guided atherectomy device for the treatment of peripheral artery disease (PAD).

Avinger Initiates Full Commercial Launch of Pantheris LV Image-Guided Atherectomy Device

Avinger, Inc. (AVGR) Q2 2024 Earnings Call Transcript

Avinger (AVGR) came out with a quarterly loss of $2.82 per share versus the Zacks Consensus Estimate of a loss of $0.43. This compares to loss of $8.85 per share a year ago.

Avinger (AVGR) Reports Q2 Loss, Lags Revenue Estimates

Implements Lower Operating Cost Profile, Readying OCT-Guided Coronary Device for IDE Submission REDWOOD CITY, CA / ACCESSWIRE / August 8, 2024 / Avinger, Inc. (Nasdaq:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today reported results for the second quarter ended June 30, 2024. Second Quarter and Recent Highlights Reported second quarter 2024 revenue of $1.8 million, with a sequentially increased gross margin of 20% Streamlined operating costs in June 2024 to provide support for its existing peripheral user base while advancing coronary product line development, with the full effect of the cost reductions expected to be seen in the second half of 2024 Continued Phase III verification and validation studies for Avinger's proprietary image-guided coronary CTO-crossing system for IDE submission anticipated in the third quarter of 2024 Building product inventory for full commercial launch of the new Pantheris LV (large vessel) image-guided atherectomy device in the coming weeks Announced the appointment of Thomas Davis, MD, FACC, a highly experienced interventional cardiologist and pre-eminent leader in the treatment of vascular disease, as Chief Medical Officer Completed the conversion of $11 million of debt into shares of a new series of convertible preferred stock, reducing the outstanding principal amount of debt to $2.6 million with no principal payments until 2027 Secured up to $24 million in additional growth financing, with $6 million funded in June 2024 and up to an additional $18 million available based upon the exercise in full of coronary clinical milestone-linked warrants "The Phase III verification and validation studies for our innovative coronary CTO solution remain on track for filing an IDE application by the end of the third quarter," said Jeff Soinski, Avinger's President and CEO.

Avinger Reports Second Quarter 2024 Results

REDWOOD CITY, CA / ACCESSWIRE / August 5, 2024 / Avinger, Inc. (Nasdaq:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of vascular disease, today announced the appointment of Thomas P. Davis, MD, FACC, as Chief Medical Officer for its peripheral business.

Avinger Appoints Thomas P. Davis, MD, FACC as Chief Medical Officer

REDWOOD CITY, CA / ACCESSWIRE / July 29, 2024 / Avinger, Inc. (Nasdaq:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of vascular disease, today announced that it will release its financial results for the second quarter 2024 after the close of trading on Thursday, August 8, 2024. The Company will host a conference call beginning at 1:30pm PT/4:30pm ET.

Avinger to Announce Second Quarter 2024 Results on August 8, 2024

$6 million upfront with up to an additional $18 million of aggregate gross proceeds upon the exercise in full of clinical milestone-linked Series Warrants REDWOOD CITY, CA / ACCESSWIRE / June 17, 2024 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today announced the closing its previously announced public offering of an aggregate of 3,614,457 shares of its common stock (or common stock equivalents in lieu thereof), Series A-1 warrants to purchase up to 3,614,457 shares of common stock, Series A-2 warrants to purchase up to 3,614,457 shares of common stock and Series A-3 warrants to purchase up to 3,614,457 shares of common stock (all the warrants, collectively, the "Series Warrants"), at a combined public offering price of $1.66 per share (or per common stock equivalent in lieu thereof) and accompanying Series Warrants. The Series Warrants have an exercise price of $1.66 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Series Warrants.

Avinger Announces Closing of up to $24 Million Public Offering

$6 million upfront with up to an additional $18 million of aggregate gross proceeds upon the exercise in full of clinical milestone-linked Series Warrants REDWOOD CITY, CA / ACCESSWIRE / June 14, 2024 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today announced the pricing of a public offering of an aggregate of 3,614,457 shares of its common stock (or common stock equivalents in lieu thereof), Series A-1 warrants to purchase up to 3,614,457 shares of common stock, Series A-2 warrants to purchase up to 3,614,457 shares of common stock and Series A-3 warrants to purchase up to 3,614,457 shares of common stock (all the warrants, collectively, the "Series Warrants"), at a combined public offering price of $1.66 per share (or per common stock equivalent in lieu thereof) and accompanying Series Warrants. The Series Warrants will have an exercise price of $1.66 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Series Warrants.

Avinger Announces Pricing of up to $24 Million Public Offering

REDWOOD CITY, CA / ACCESSWIRE / June 5, 2024 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today announced that it will increase focus on its coronary artery disease program, where it is developing an innovative new image-guided therapeutic system to address unmet coronary market needs, while reducing the operating costs of its peripheral artery disease business. As part of this strategic prioritization, Avinger has reduced headcount dedicated to its peripheral business by 33%, which is expected to provide significant cost savings in the second half of 2024.

Avinger Increases Focus on Coronary Development, Reduces Operating Costs of Peripheral Business

Here is how Avinger (AVGR) and Ayr Wellness Inc. (AYRWF) have performed compared to their sector so far this year.

Are Medical Stocks Lagging Avinger (AVGR) This Year?

REDWOOD CITY, CA / ACCESSWIRE / May 16, 2024 / Avinger, Inc. (Nasdaq:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today announced the conversion of $11 million or approximately 80% of its existing debt with entities affiliated with CRG Partners III L.P. ("CRG") into a shares of a new series of convertible preferred stock.

Avinger Announces Conversion of $11 Million of CRG Debt into Preferred Equity

Avinger, Inc. (NASDAQ:AVGR ) Q1 2024 Earnings Call Transcript May 15, 2024 4:30 PM ET Company Participants Matt Kreps - IR Jeff Soinski - CEO Nabeel Subainati - Principal Financial Officer Conference Call Participants Swayampakula Ramakanth - H.C. Wainwright Operator Greetings and welcome to the Avinger First Quarter 2024 Results Call.

Avinger, Inc. (AVGR) Q1 2024 Earnings Call Transcript

Advances New OCT-Guided Coronary Product Development REDWOOD CITY, CA / ACCESSWIRE / May 15, 2024 / Avinger, Inc. (Nasdaq:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today reported results for the first quarter ended March 31, 2024. First Quarter and Recent Highlights Reported first quarter 2024 revenue of $1.9 million, and gross margin of 18% Continued full commercial launch of Tigereye ST, Avinger's most advanced image-guided peripheral CTO-crossing device, and limited launch of the new Pantheris LV (large vessel) image-guided atherectomy device Initiated Phase III verification and validation studies for Avinger's proprietary image-guided coronary CTO-crossing system in preparation for IDE submission, anticipated in the third quarter of 2024 Announced a strategic partnership and up to $15 million equity funding agreement with Zylox-Tonbridge, of which $7.5 million was funded in March 2024, opening a pathway to the greater China market Exchanged Series A preferred stock with an aggregate liquidation preference of $61 million for new Series A-1 preferred stock with a value of $10 million and no liquidation or dividend preference "We are excited to commence Phase III verification and validation studies for our innovative coronary CTO solution in preparation for filing an IDE application later this year," said Jeff Soinski, Avinger's President and CEO.

Avinger Reports First Quarter 2024 Results

REDWOOD CITY, CA / ACCESSWIRE / May 7, 2024 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of vascular disease, today announced that it will release its financial results for the first quarter 2024 after the close of trading on Wednesday, May 15, 2024. The Company will host a conference call beginning at 1:30pm PT/4:30pm ET.

Avinger to Announce First Quarter 2024 Results on May 15, 2024

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Fast-paced Momentum Stock Avinger (AVGR) Is Still Trading at a Bargain

Avinger (AVGR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Avinger (AVGR) Upgraded to Buy: What Does It Mean for the Stock?

Avinger, Inc. (AVGR) Q4 2023 Earnings Call Transcript

New Strategic Partnership Provides Funding to Support U.S. Growth Initiatives and Coronary Product Development, Opens New Pathway for Sales in Asia REDWOOD CITY, CA / ACCESSWIRE / March 20, 2024 / Avinger, Inc. (Nasdaq:AVGR), a commercial-stage medical device company developing and marketing the first and only intravascular image-guided, catheter-based systems for diagnosis and treatment of vascular disease, today reported results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter and Recent Highlights Announced up to $15 million strategic financing and partnership agreement with Zylox-Tonbridge, a leading provider of neuro- and peripheral-vascular interventional solutions in China, with $7.5 million initial equity investment funded in March 2024 Reported fourth quarter 2023 revenue of $1.9 million, a sequential increase of 5%, and gross margin of 20% Expanded sales team by more than 25% and deepened Avinger's presence in key Midwest, Texas and Florida markets Expanded full commercial launch of Tigereye ST, Avinger's most advanced image-guided peripheral CTO-crossing device, based on strong momentum in the fourth quarter Continued limited launch of the new Pantheris LV (large vessel) image-guided atherectomy device in anticipation of full commercial launch Advanced development of proprietary image-guided coronary CTO-crossing system, including completion of Phase 2 design selection and multiple rounds of animal and cadaver heart studies, with IDE submission anticipated in the third quarter of 2024 "We are excited to begin our strategic partnership with Zylox-Tonbridge, a dynamic leader in the peripheral interventional market in China," said Jeff Soinski, Avinger's President and CEO.

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