Avinger (AVGR) Stock: Why The Price Increased Over 5% Today

By Amit Chowdhry ● Apr 19, 2022
  • The stock price of Avinger Inc (NASDAQ: AVGR) increased by over 5% during intraday trading today. This is why.

The stock price of Avinger Inc (NASDAQ: AVGR) increased by over 5% during intraday trading today. Investors are responding positively to Avinger announcing full commercial availability of its new Lightbox 3 imaging console designed to enhance the user experience and drive faster adoption at new hospital sites.

Avinger received 510(k) clearance for the Lightbox 3 from the U.S. Food & Drug Administration (FDA) in January and conducted a successful limited launch with key opinion leaders in February and March. And physicians have now utilized the new Lightbox 3 with Avinger’s Tigereye CTO-crossing and Pantheris atherectomy catheters at 12 clinical sites throughout the U.S. Commercial experience during the limited launch phase also validated a new mobile strategy option where a single and highly portable Lightbox 3 can be efficiently deployed across multiple hospital sites. 

This new mobile strategy is intended to increase the productivity of Avinger’s field teams, accelerate the launch of new user sites, and reduce sales cycle time, combining to augment the utilization of Avinger’s disposable interventional devices.

Lightbox 3 incorporates an advanced solid-state laser for high-definition intravascular OCT imaging, improving visualization while reducing the need for contrast dye – which can be contraindicated for many PAD patients. And with a more powerful computing platform and redesigned software system, the highly intuitive user interface emphasizes efficiency and ease-of-use in the catheterization lab setting. 

The Lightbox 3 also brings a significant reduction in size, weight, and cost compared to the predecessor console, which is anticipated to accelerate the evaluation process and reduce barriers to developing new accounts. The Lightbox 3 fits into a carry-on sized case and weighs under 20 pounds – a 90% reduction in size and weight that provides for easy transport, efficient installation, and a simplified service strategy.

Avinger’s proprietary Lumivascular technology allows physicians, for the first time ever, to see inside the artery during an atherectomy or CTO-crossing procedure by using an imaging modality called optical coherence tomography (OCT) that is displayed on Avinger’s Lightbox console. And physicians performing atherectomy or crossing CTOs with other devices must rely solely on X-ray and tactile feedback to guide their interventions while treating complicated arterial disease. With the Lumivascular approach, physicians can more accurately navigate their devices and treat PAD lesions, due to real-time OCT images generated from inside the artery, without exposing healthcare workers and patients to the negative effects of ionizing radiation.

KEY QUOTES:

“Physician feedback for our next-generation Lightbox 3 imaging console has been very positive, and we are excited to progress to full commercial availability. Users noted that the enhanced high-definition imaging facilitated the identification of disease morphology and arterial wall structures during treatment, and the new user interface allowed for more efficient operation. We believe the significant clinical benefits of our proprietary intravascular image-guided system, combined with the portability and reduced cost of the Lightbox 3, will energize existing users and accelerate new account acquisition as we progress throughout the year.”

— Jeff Soinski, Avinger’s President and CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.