Avinger Inc. (NASDAQ:AVGR) jumped 7.5% after announcing that the company had submitted a 501(k) application to the FDA for its novel Lightbox 3 imaging console. CEO and President Jeff Soinski said that the Lightbox 3 console represents major imaging, capability, and portability step.
He explained that its next-gen laser system, compact size, and streamlined workflows will accelerate the rate and effectiveness for new account gaining, energize current uses and offer a chance to support catheter capabilities in the future. Most importantly, the 501(k) application is a massive milestone for the Avinger team. Soisnki said they are delighted with the potential Lightbox 3 holds in impacting the business once they receive pre-marketing approval.
The company’s CMO JaaferGolzar said that professionals using the Lightbox 3 and the Pantheris SV, Pantheris, and Tigereye catheters would have access to advanced tools to effectively and safely treat PAD with accuracy while limiting vessel wall damage. Therefore, in the coming weeks, AVGR is worth keeping an eye on.
Market Reaction:
On Thursday, AVGR stock gained 7.50% at $1.01 with more than 1.77 million shares, compared to its average volume of 1.98 million shares. The stock has moved within a range of $0.9502 – 1.0200 after opening the trade at $0.98.
