Why Is MedTech Firm Avinger Stock Trading Higher Today?

Avinger Inc AVGR shares are trading higher after the company announced the full commercial launch of its Tigereye ST next-generation image-guided chronic total occlusion (CTO) crossing system. 

In April 2023, the FDA approved Tigereye ST. Avinger initiated a limited launch.

With the initiation of a full commercial launch, all current and prospective accounts can now order the Tigereye ST device.

Before full commercialization, Avinger conducted a limited launch at 11 clinical centers in the U.S., with approximately 50 CTO procedures performed with Tigereye ST by 13 physicians. 

These initial cases highlighted the successful implementation of the new design features into the platform, an excellent safety profile, efficacy in crossing challenging lesions, and exceptional product reliability.

Tigereye ST features high definition, real-time intravascular imaging, and a user-controlled deflectable tip designed to assist in steerability within the lumen. 

The device also includes an enhanced distal tip configuration with faster rotational speeds up to 1000 RPM designed to penetrate challenging lesions. Capable of treating lesions in the peripheral vessels both above and below the knee, the Tigereye ST device has a working length of 140 cm and 5 French sheath compatibility. Tigereye ST is complementary to Avinger's image-guided atherectomy devices, including the Pantheris, Pantheris LV, and Pantheris SV.

Price Action: AVGR shares are up 73.6% at $7.17 on the last check Monday.