Avinger Surged Over 31% During the Trading Hours but Slipped Over 5% in Extended Trading on Wednesday

Dow Jones2023-09-21

Avinger shares moved 31.96% higher during the trading hours but slipped 5.73% in extended trading on Wednesday, after closing 72% higher on Tuesday.

On Monday, the medical device company's stock jumped after the company made a full commercial launch of its Tigereye ST next generation image-guided chronic total occlusion crossing system.

The stock hit its 52-week low of $4.14 on Friday, and is still down 35% over the past 12 months.

The company said that with the initiation of a full commercial launch, all current and prospective accounts can now order the Tigereye ST device.

"This device represents one of the most significant advancements in Avinger's image-guided technologies for the treatment of peripheral artery disease," said Chief Medical Officer Jaafer Golzar.

Prior to full commercialization, Avinger conducted a limited launch at 11 clinical centers in the U.S., with about 50 chronic total occlusion procedures performed with Tigereye ST by 13 physicians. The initial cases showed a positive safety profile, efficacy in crossing very challenging lesions, and high product reliability, the company said.

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