Avinger Inc (NASDAQ: AVGR) is having a great start to the trading session this morning, and for good reason. The company announced news with regard to the successful treatments of the first patients in various facilities across the United States using its Pantheris image-guided atherectomy system. Of course, the news excited investors, causing the stock to go on a run for the top. Today, we’ll talk about:
- The successful treatments;
- what we’re seeing from AVGR as a result; and
- what we’ll be watching for ahead.
AVGR Announces Successful Treatments
As mentioned above, Avinger is having an incredibly strong start to the trading session this morning after the company announced that several physicians have successfully treated more than 40 patients in the United States across 13 sites. During the treatments, the company’s next-generation Pantheris image-guided atherectomy system was used to help physicians treat peripheral artery disease (PAD). Of course, the positive cases in the real-world setting only add to the impressive clinical results achieved in the first 30 cases that were completed in Germany earlier this year.
In the release, AVGR reminded investors that the Pantheris design is comprised of a simplified single balloon system for cutter apposition and blood flow management, a stiffer shaft for increased pushability, a more robust nosecone with the option for more tissue storage capacity, and an enhanced cutter design. As a result of these features, as well as other small advancements, the device is more reliable and has resulted in very positive acute outcomes in a variety of lesion types. In a statement, Dr. Glen Schwartzberg, had the following to offer:
I am very excited about the outcomes for patients that the next-generation Pantheris has helped me achieve in my initial 10 cases. Since the infancy of this technology, I have always thought onboard image-guided atherectomy represented the future of endovascular intervention for many types of disease because of its ability to target specific pathology as opposed to other atherectomy devices which indiscriminately engage both normal and abnormal tissue, potentially creating harm. While still early in our experience with the device, the new design features have already expanded the applicability of Pantheris to a wider variety of lesion types and I have observed a marked improvement in cutting efficiency and ease of use. I use Pantheris as my front-line therapy due to its safety profile with the reduction of radiation and contrast delivery to the patient and my firm belief that this approach will generate better long-term results for patients. The data from the VISION trial with the first-generation Pantheris demonstrated the longer-term efficacy and safety of this therapy, and the body of evidence should only grow from here.
The above statement was followed up by Jeff Soinski, President and CEO at AVGR. Here’s what he had to offer:
We are very pleased to deliver an enhanced device that will help Dr. Schwartzberg, and other physicians like him, produce better outcomes for patients… “Our first US cases confirm many of the design changes incorporated into the next-generation Pantheris have improved performance and durability of the technology. Gaining experience across multiple users in the United States, different physician specialties, and a variety of lesion characteristics further substantiates the results generated with the next-generation device in Europe over the past few months.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of Avinger, the news proved to be overwhelmingly positive. After all, there’s nothing quite like clinical data when it comes to exciting investors. So, with the strong news, it comes as no surprise to see that the stock is making a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:51), AVGR is trading at $1.84 per share after a gain of $0.22 per share or 13.50% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AVGR. In particular, we’re interested in following the story surrounding the company’s continued work with regard to its next-generation Pantheris image-guided atherectomy system. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!