Avinger Inc (NASDAQ: AVGR) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced the issuance of a new patent and notice of allowance for five others.
As you could imagine, the news excited investors who are pushing the stock for the top. If you haven’t read my detailed report on AVGR, click here to do so. Nonetheless, today, we’ll talk about:
- The patent news released by the company;
- what we’re seeing from AVGR stock as a result; and
- what we’ll be watching for ahead.
AVGR Announces Patent News
As mentioned above, Avinger is having a great day in the market today after announcing patent news. The news came by way of press release early in the premarket hours.
In the release, the company said that it has received a new patent relating to its proprietary optical coherence tomography (OCT) intravascular imaging system. Moreover, the company said that it has received the allowance of five additional United States patents that are expected to be issued over the next six months.
AVGR said that the patent issued is number 10,244,934 and is titled “Atherectomy Catheter Drives Assemblies.” The patent was issued on April 2, 2019, covering drive assemblies, which are a key component of the company’s proprietary OCT intravascular system.
In a statement, Jeff Soinski, President and CEO at AVGR, had the following to offer:
Our R&D team continues to bring innovation to our product portfolio and advance our Lumivascular technology. Pursuing and obtaining effective intellectual property protection for these innovations is a critical part of our growth strategy. We are pleased with the progress we are making in this area as we expand our issued patent portfolio and file new patent applications for our technologies.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Avinger, the news proved to be incredibly positive.
After all, the newly issued patent will provide further protection for the company’s IP. Moreover, with five more patents likely on the way, the company has plenty of catalysts ahead.
Considering this, it’s not surprising to see that excited investors are sending the stock screaming for the top int he market this morning. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:47), AVGR is trading at $0.70 per share after a gain of $0.10 per share or 17.63% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Fiannce 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 to expand its IP protection and sell its products. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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