Avinger, Inc. (AVGR) Stock Prices Hinging on Upcoming Q1 2021 Reports

Avinger, Inc. (AVGR) stock prices were down a marginal 0.81% as of market close on May 3rd 2021, bringing the price per share down to USD$1.23 at the end of the trading day.

Commercial Launch of Tigereye

Revenue from the company’s image-guided CTO was up by 38% as compared to the previous quarter. The increase was primarily attributable to the limited launch of AVGR’s new Tigereye device. Following the success of the limited launch of Tigereye, the product’s full commercial launch commenced in January 2021.

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Success of Tigereye

Following the full commercial launch, Tigereye had reported the launching of 30 clinical sites with more than 160 cases performed successfully as of April 8th 2021. In light of this success, AVGR anticipates a 60% increase in its combined Lumivascular CTO revenue for the first quarter of 2021, as compared the same quarter of the previous year.

Success of Pantheris Catheters

With AVGR’s Pantheris SV OCT-guided atherectomy catheters having been launched in the third quarter of 2019, the company reported in mid-April 2021 that more than 100 accounts had made purchases of the catheters for the treatment of Peripheral Artery Disease. 2020 saw more than 1700 Pantheris SV catheters being ordered, which resulted in a revenue growth of more than 100% for the device as compared to 2019.

Consolidation of AVGR Finances

The company also negotiated an existing loan agreement in January of 2021, amending the maturity date to extend through to the fiscal year 2025. The company’s financial position for the near future has been considerably consolidated, as per reports of AVGR having USD$22.2 million in cash on hand as of December 31st 2020. February 2021 saw AVGR launch a common stock offering that generated close to USD$13 million in net proceeds.

Scope of AVGR’s Product Portfolio

Increases in sales activity and streamlining of cost efficiency saw gross margins increase by a significant 36%. Q4 2020 also saw the opening of 9 new Lumivascular accounts, bringing the number of new accounts for the year of 2020 up to 36. This success has been extrapolated into the fiscal year 2021, with the company announcing on April 21st 2021 the publication of two clinical studies in peer-reviewed journals, further supporting the clinical benefits of the company’s therapeutic devices.

Future Outlook for AVGR

With their financial situation being consolidated by their common stock offering and restructuring of their existing loan agreement, AVGR is situated to capitalize on the growing success of its product portfolio. Investors look to the proliferation of AVGR’s Lumivascular platform across the United States and the success of Tigereye to lead the company into further profitability in the hopes of driving shareholder value up.


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