Avinger reports second quarter 2021 financial results

Pantheris sales and tigereye™ expansion drive 91% year-over-year revenue growth redwood city, ca / accesswire / august 10, 2021 / 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 peripheral artery disease (pad), today reported results for the second quarter ended june 30, 2021. second quarter and recent highlights revenue increased 91% year-over-year to $2.8 million, fueled by pantheris sales growth and new tigereye cto sales record pantheris sv revenue reflects strong market adoption of avinger's small-vessel catheter, primarily used in below-the-knee (btk) applications image-guided cto revenue increased 114% year-over-year, driven by tigereye launch at more than 40 sites gross margin increased to 36% as avinger scales its operations opened more than 30 new lumivascular accounts in the last 12 months on increased market demand for avinger's highly differentiated technology filed 510(k) in june to expand pantheris clinical indication for treatment of in-stent restenosis (isr) filed 510(k) in august for the lightbox 3 next generation imaging console maintained strong cash position of $26.7 million at june 30, 2021, anticipated to fund sales force expansion, new product development and clinical plans through 2022 jeff soinski, avinger's president and ceo, commented, "avinger's 2021 growth momentum continued in the second quarter as we delivered strong revenue gains for both our pantheris atherectomy and image-guided cto product lines and procedural volume improving in the first half of the year.
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