Avinger Inc (NASDAQ: AVGR) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced a commercial launch in Australia, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The launch;
- what we’re seeing from AVGR; and
- what we’ll be watching for with regard to the stock ahead.
AVGR Announces Australian Launch
As mentioned above, Avinger is having an incredibly strong start to the trading session this morning after the company announced a commercial launch in Australia. In a press release issued early this morning, the company announced the commercial launch of its Pnatheris image-guided atherectomy system in the region.
In the release AVGR said that it recently completed an exclusive distribution agreement with Diverse Devices Pty Ltd. for the sale and marketing of the company’s proprietary Lumivascular products in the region. Also, the company announced that it has received notice from Australia’s Therapeutic Goods Administration that the Pantheris image-guided atherectomy system has been included on the Australian Register of Therapeutic goods. Thsi ultimately gives the company permission to commercialize the product in Australia.
AVGR said that once regulatory clearance was received, Dr. Vikram Puttaswamy, a pre-eminent vascular surgeon, performed the first cases with Pantheris in the country. Additional cases have been performed by Dr. Yew Toh Wong, another leading vascular surgeon in Australia.
In a statement, Dr. Puttaswamy, the first operator to use image-guided atherectomy in Australia, had the following to offer:
Maximizing the channel for blood flow in revascularizing the vessel, while simultaneously minimizing vascular injury is the goal in treating patients with PAD. This new device provides another option for Australian clinicians when treating patients with this serious disease.
The above statement was followed up by Jef Soinsky, President and CEO at AVGR. Here’s what he had to offer:
We are excited to expand into a new geographical market with our products and look forward to a mutually beneficial partnership with Diverse Devices, a distributor of innovative medical devices in the Australian market with a strong clinical presence in the vascular space… We are thrilled with the positive results from the first cases performed by the first Lumivascular physicians in Australia and look forward to hearing about many more successful cases with this ground-breaking technology in Australia. Given the positive safety and efficacy profile of our Lumivascular products demonstrated in our clinical trials, coupled with the recent launch of the improved next generation Pantheris, we anticipate that our new partnership in Australia will allow us to make a positive impact on the treatment of vascular disease in an important new market.
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. In the case of Avinger, the news proved to be overwhelmingly positive. After all, the commercial launch in Australia creates an opportunity to generate revenue in the region. So, it’s not surprising to see that excited investors are sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:35), AVGR is trading at $0.36 per share after a gain of $0.02 per share or 6.00% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on AVGR. In particular, we’re interested in following the story surrounding the company’s Australian commercial launch and the revenue generated from the move. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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