Avinger Q4 2022 Earnings Report
Key Takeaways
Avinger reported Q4 2022 revenue of $2.0 million with a gross margin of 34%. The company maintained a strong cash position of $14.6 million. They are advancing multiple product and clinical programs and submitted all requested documentation related to the 510(k) submission for their new Tigereye ST CTO-crossing catheter and are preparing to initiate limited launch pending FDA clearance.
Fourth quarter revenue of $2.0 million, and gross margin of 34%
Filed an FDA 510(k) submission for the new Pantheris LV (large vessel) device
Expanded penetration of Lightbox 3 next-generation imaging console with approximately 600 cases performed in more than 60 clinical sites since launch
Maintained a strong cash position of $14.6 million at December 31, 2022
Avinger
Avinger
Forward Guidance
Avinger anticipates two new peripheral product launches in 2023 and expects to assess coronary prototypes in animal studies in the second quarter of this year, working towards filing an IDE submission with the FDA within the next 12 months for a clinical study in 2024.