Avinger Inc. (NASDAQ:AVGR) Stock Gains Momentum: Jumps 7%

Avinger Inc. (NASDAQ:AVGR) shares were up 6.5% after the medical device company announced that the FDA had issued it with a 510(k) approval for a new indication for its Pantheris Image-guided atherectomy system.

Market Stats

On Wednesday, AVGR stock increased 6.57% to $0.7300 with more than 35.23 million shares, compared to its average volume of 969.54K shares. The stock has moved within a range of $0.8330 – 1.0300 after opening trading at $0.9300.

FDA Clearance of Pantheris for the Treatment of In-Stent Restenosis

Notably, the approval allows Avingers to market Pantheris directly for in-stent restenosis treatment in low extremity arteries. CEO Jeff Soinski said they are delighted to receive FDA approval for ISR indication as this expands Pantheris’ addressable market into a high-incidence disease state with few available treatment alternatives.

Soinski said that Panthris is currently the only directional atherectomy system with a clinical indication for ISR treatment, offering a convincing new differentiation point for the device.

The combination of live intramuscular imaging with directional atherectomy’s accurate control and expansive luminal gain ensures Pantheris allows physicians to see stent struts and target ISR lesions safely to restore blood flow in blocked vessels while circumventing the structure of the past implanted stent. Therefore, AVGR is a stock investors should watch in the coming weeks.

Key Quote

“We are excited to receive FDA clearance for the ISR indication, which expands our addressable market for Pantheris to include a high-incidence disease state for which there are few available indicated treatment options,” commented Jeff Soinski, Avinger’s President and CEO.