Avinger, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 05:06 pm EDT
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Avinger, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1.82 million compared to USD 2.25 million a year ago. Net loss was USD 4.48 million compared to USD 4.09 million a year ago. Basic loss per share from continuing operations was USD 2.92 compared to USD 11.51 a year ago.
For the nine months, sales was USD 5.75 million compared to USD 6.27 million a year ago. Net loss was USD 13.3 million compared to USD 13.44 million a year ago. Basic loss per share from continuing operations was USD 21.48 compared to USD 56.67 a year ago.
Avinger, Inc. is a commercial-stage medical device company. The Company designs, manufactures, and sells real-time, image-guided, minimally invasive catheter-based systems that are used by physicians to treat patients with peripheral artery disease (PAD). Its Lumivascular platform includes the Lightbox real-time imaging console, the Ocelot and Tigereye family of catheters, which are image-guided catheters designed to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (CTO), and the Pantheris family of catheters, its image-guided atherectomy family of catheters designed to allow physicians to remove arterial plaque in PAD patients. Its Pantheris is a single-use product and provides physicians with the ability to see a cross-sectional view of the peripheral artery to guide the removal of blockages throughout the procedure. It has also developed a line extension of its Pantheris image-guided atherectomy platform, Pantheris Small Vessel (SV).