Avinger, Inc., (Nasdaq:AVGR) a developer and manufacturer of image-guided, catheter-based systems for the treatment of peripheral arterial disease (PAD) and pioneer of the lumivascular approach to treating vascular disease, today reported financial results for the first quarter ended March 31, 2015.

Recent Highlights

  • Achieved primary efficacy endpoint in VISION study, with 30-day data accepted for initial presentation on May 20, 2015 at EuroPCR, the premier international conference for interventional medicine
  • Added three new lumivascular accounts in the first quarter, expanding the installed base of the Company’s lumivascular platform to 63 accounts
  • Grew lumivascular console revenues by 72% compared to the same quarter in the prior year
  • Appointed experienced peripheral vascular sales leader John Borrell as the Company’s new Vice President of Sales

“Our first quarter results reflect the meaningful progress we are making towards our goal of becoming the leading provider of image-guided medical devices for the treatment of vascular diseases. We continued to expand lumivascular accounts, as well as raise awareness of our lumivascular platform with physicians throughout the U.S. At the same time, we remain on track for the anticipated commercial launch of Pantheris in early 2016,” said Jeff Soinski, President and Chief Executive Officer. “The recent addition of John Borrell to lead our sales organization reflects another important milestone in our growth, and we welcome his contributions to the Avinger team.”

Commenting on the Pantheris VISION trial, Dr. John B. Simpson, Avinger’s Founder and Executive Chairman, stated, “I am delighted with the very positive results we are already seeing out of our VISION trial. We have surpassed our primary efficacy endpoint, which requires that residual stenosis of less than 50% post-Pantheris treatment is achieved in greater than 87% of patients. Based on 30-day follow-up data, we also believe we are on track to meet our primary safety endpoint once all six-month follow-up data becomes available. I am very pleased by the progress of Pantheris and continue to expect filing of our 510(k) application with the FDA in the second half of the year.”