Avinger, Inc. | $AVGR Stock | Shares Shoot Up On Positive Results From 2 Year Vision Study Of Lumivascular Technology

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Avinger

Avinger, Inc. (NASDAQ : AVGR)

 

 

Avinger, Inc. (AVGR), a commercial-stage medical device company yesterday announced positive results from its VISION study of the company’s Lumivascular technology. The study lasted 24 months and showed positive long term results.

 

Medical Expert  Comments

“These interim 24-month results demonstrate a stable, consistent, and high-functioning patient population through two years – impressive results for a study of mostly standalone, drug-free atherectomy cases,” said Dr. Cawich. “The findings are particularly striking considering that all data generation and outcomes were in the setting of a first-generation clinical trial device and brand new users.”

“As a new user, I am very encouraged by our positive long-term results,” said Dr. Brodmann. “Lumivascular treatment demonstrated tremendous efficacy and safety, consistent with the larger pivotal VISION study.”   Globe Newswire

 

Avinger Technical Analysis

Avinger

AVGR opened trading yesterday at $2.15 which was up from the previous day’s trading close of $2.10. Shares closed trading yesterday at $2.30 and spiked up after market to $2.95, equivalent to a 28% increase from the closing price. Taking a look at the daily chart we can see that the last time AVGR traded above these levels we have to go back to January 17th when it traded at  $3.10.

Taking a closer look at the daily chart we can see that before the spike down AVGR had already been in an overall downward trend dating back to July 12th, 2016 when it traded at $11.43. AVGR has a float of 20.06 million shares and traded below the normal daily trading volume on Wednesday. For trading purposes, I would like to see AVGR open trading on Thursday above $2.70 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.15 from my entry position fearing anything more than that and the stock would start to fill in the gap up. Check out these links for more information on Warrior Trading and the penny stock trading strategies we implement in their chat room!

 

Company Profile

Avinger, Inc., a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe. The company develops lumivascular platform, which integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures. Its lumivascular products include the Lightbox imaging console and Ocelot family of catheters, which are designed to penetrate total arterial blockages, known as chronic total occlusions (CTOs).

The company is also developing Pantheris, an image-guided atherectomy device, which is designed to precisely remove arterial plaque in PAD patients. In addition, its first-generation CTO-crossing catheters, Wildcat and Kittycat 2, employ a proprietary design that uses a rotational spinning technique, allowing the physician to switch between a passive and active mode when navigating across a CTO. The company sells and markets its products to interventional cardiologists, vascular surgeons, and interventional radiologists. Avinger, Inc. was founded in 2007 and is headquartered in Redwood City, California.  Yahoo Finance

 

 

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