Avinger reports first quarter 2024 results

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.
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