Medical devices company Avinger Inc (NASDAQ:AVGR) is in the news this morning after a key announcement and the stock has soared by 14% already. The company announced this morning two key opinion leader presentations about its product Lumivascular technology at two major vascular conferences that were held in Germany.
One of those conferences was the Essen Vascular Conference and the other one was the Annual German CLI Congress. At the latter event, the presentation about the company’s technology was done by Dr. Arne Schwindt, who is a vascular surgery specialist at the St. Franziskus Hospital Münster.
Dr. Scwindt was also responsible for the presentation on Avinger’s technology at the Essen Vascular Conference earlier on in June. The presentations made by a key opinion leaders about the company’s technology at those two key industry events could prove to be significant long term boosts for Avinger.
However, in light of the gains made by the stock, investors need to remember that earlier on this year, Avinger announced the commercial launch of its CTO (image-guided chronic total occlusion) crossing system named Tigereye. Following that launch in January this year, accounts throughout Germany and the United States were able to start ordering the product.
Market Reaction:
As of 12:08, AVGR stock jumped 21% to $1.41 with more than 17.41 million shares, compared to its average volume of 2.84 million shares. The stock has moved within a range of $1.1800 – 1.4600after opening the trade at $1.21 Over the past 52-week, the stock has been trading within a range of $0.2140 – 2.6700.
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