Avinger Inc (AVGR)

Avinger Inc. (NASDAQ: AVGR) Stock Overview

Company Profile:

Detailed history and background: Avinger Inc. (NASDAQ: AVGR), founded in 2007 and headquartered in Redwood City, California, develops, manufactures, and markets minimally-invasive vascular devices for peripheral and coronary artery disease (CAD) treatment.

A pivotal element in Avinger's history was the 2015 launch of its Pantheris device in Europe. The Pantheris is a unique catheter-based system utilizing an optical coherence tomography imaging technology (OCT), allowing physicians to visualize plaque in arteries and guide interventions for improved outcomes. In the following year, 2016, the U.S. Food and Drug Administration (FDA) gave its nod to the use of the Pantheris for peripheral artery disease (PAD) treatment in patients with superficial femoral arteries (SFA).

However, Avinger faced some hurdles in 2018 when its Lightbox coronary system, designed for coronary artery imaging with OCT during complex angioplasty, failed to meet its primary efficacy and primary safety endpoints in a large clinical trial. Subsequently, Avinger had its share of restructuring in the organization and a major stock split.

Currently, under new leadership with CEO Jeff Soinski at its helm, Avinger is refocusing its efforts on the Pantheris platform for its potential use in treating both coronary artery disease (CAD) and PAD.

Core Business:

• Developing and commercializing minimally-invasive devices for peripheral arterial and coronary diseases.
• Leveraging the Pantheris system with its unique OCT imaging capability for better diagnosis and intervention guidance.

Leadership:

• CEO: Jeff Soinski
• CFO: Karen Anderson

Top Products and Market Share:

• Panterhis - A catheter system that utilizes OCT for visualizing the lumen and arterial walls, providing crucial data to guide interventions and enhance treatment outcomes in both coronary and peripheral arteries.

Market Share:

With its focus on the OCT imaging space for vascular interventions via the Pantheris platform, Avinger estimates a $5 billion global market opportunity, encompassing both coronary and peripheral applications of its solution and technology.

Product Comparison: Avinger's closest competition comes from companies that offer OCT imaging systems, such as Abbott (NYSE: ABT), Boston Scientific Corporation (NYSE: BSX), Medtronic (NYSE: MDT), Philips Healthcare, and Terumo.

While these competitors have a broader product portfolio and a larger presence, Avinger has the unique distinction of focusing exclusively on OCT imaging for vascular applications, which it believes offers significant advantages.

Total Addressable Market (TAM)

The global market opportunity for vascular interventions, encompassing the treatment of coronary artery disease (CAD), peripheral arterial disease, and other related conditions, stands at a substantial $5 billion, according to Avinger Inc.'s assessment, positioning the Pantheris system with significant growth prospects.

Additional Information

Disclaimer:

The information contained herein is for general informational purposes only. It should be used for informational, research, and/or educational purposes alone. This is not an offer to sell any security or investment product or to provide trading, legal, financial or tax advice and should not and does not constitute an offer, recommendation, endorsement or solicitation to purchase any particular investment. All investments carry a certain degree of risk and it is important for investors to diversify their portfolio and invest based on individual circumstances and investment strategies, and with proper consultation with professional legal or tax advisors.

Sources:

• Avinger Investor Relations: https://investors.avinger.com/
• Yahoo Finance - Avinger: https://ca.finance.yahoo.com/quote/avgr/
• SEC Filings - Avinger: https://sec.report/CIK/1292130