Avinger reports fourth quarter and full year 2023 results
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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