Shares of Avinger, Inc. (NASDAQ:AVGR) Advance Following Approval for In-Stent Restenosis Treatment

Leading developer of innovative treatments for Peripheral Artery Disease, Avinger, Inc. (NASDAQ:AVGR), announces that it has received CE Marking approval for treating in-stent restenosis with their patented Pantheris Lumivascular atherectomy system as the share price advances.

REDWOOD CITY, Calif., Sept. 26, 2017 (GLOBE NEWSWIRE) — Avinger, Inc. (AVGR), a leading developer of innovative treatments for Peripheral Artery Disease (PAD), today announced Conformité Européenne (CE) Marking approval for treating in-stent restenosis with the Pantheris® Lumivascular atherectomy system.

In-stent restenosis occurs when a previously blocked artery treated with a stent becomes narrowed again, blocking blood flow. Physicians often face challenges when treating in-stent restenosis both in terms of safety and efficacy. From a safety standpoint, limitations in imaging techniques such as X-ray fluoroscopy and the inability to control the directionality of other treatment modalities’ mechanism of action creates the concern of potentially impacting the integrity of the stent during the intervention. In terms of efficacy, current therapies for in-stent restenosis such as balloon angioplasty suffer from high rates of recurrent renarrowing within stents.

“The demand for improved treatment options for in-stent restenosis is growing as physicians experience the accurate visualization and precision provided by state-of-the-art technologies such as the Pantheris Lumivascular atherectomy system,” said Jeff Soinski, Avinger’s president and CEO. “CE Marking for this particular indication is an important milestone for Avinger that addresses an area of unmet clinical need for patients suffering from PAD. Onboard image guidance coupled with directional plaque excision offers the interventionist clear benefits when treating in-stent restenosis and represents another opportunity to improve patient outcomes.”

“Two elements thoughtful interventionists want to avoid during intervention are adventitia and stent struts,” said John B. Simpson, Ph.D., M.D., founder and executive chairman. “Intravascular visualization combined with a directional mechanism in real time provides operators the information and precision needed to treat only diseased tissue without coming into contact with the stent struts or adventitia.”

Atherectomy is a minimally invasive treatment for PAD in which a catheter-based device is used to remove plaque from a blood vessel. Lumivascular technology allows physicians, for the first time ever, to see from inside the artery during a directional atherectomy procedure by using an imaging modality called optical coherence tomography, or OCT, that is displayed on the Lightbox console. In the past, physicians have had to rely solely on X-ray as well as tactile feedback to guide their tools while treating complicated arterial disease. With the Lumivascular approach using real-time OCT image guidance, physicians can more accurately navigate their devices to treat PAD without exposing healthcare workers and patients to the negative effects of ionizing radiation.

About Avinger, Inc.

Avinger is a commercial-stage medical device company that designs and develops the first-ever image-guided, catheter-based system that diagnoses and treats patients with peripheral artery disease (PAD). Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, CA. For more information, please visit www.avinger.com.

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Avinger, Inc. (NASDAQ:AVGR) shares are moving +119.05% on the news today and have traded in the range of $0.38 – 0.63 during the current trading session. A number of brokerage analysts have recently weighed in on the stock, providing price target projections. The covering firms currently have a consensus one-year price target of $2.00 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  This is the average number from the individual targets provided by the firms.  Analysts are projecting earnings per share of $0.00 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-1.87 per share according to First Call.

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In looking at where Avinger, Inc. is trading on a technical level, the stock is trading +72.84% away from its 50-day moving average of $0.27.  Based on the most recent available data, the equity is -91.07% off of its 52-week high of $5.15 and +109.09% away from its 52-week low which is $0.22.

Today, the stock opened at $0.55 and the last bid at the time of writing stood at $0.46.  During the session thus far, the equity dipped down to $0.38 and touched $0.63 as the high point.  Avinger, Inc. (NASDAQ:AVGR) has a market cap of $11.00M and has seen an average daily volume of 718,186 over the past three months.

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Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.

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