Skip to content

Avinger (AVGR) Stock Surges After Receiving FDA Clearance

Medical device company Avinger (NASDAQ: AVGR) has announced that it has received clearance from the US Food and Drug Administration (FDA) for its Ocelaris next-generation image-guided total occlusion crossing system.

The catheter-based system will be branded as TIGEREYE and provides real-time imaging from inside the vessel during a CTO-crossing procedure.

“We are excited to receive U.S. pre-marketing clearance for TIGEREYE, which we believe will be a significant growth driver for our CTO-crossing business,” said Jeff Soinski, Avinger’s President and CEO.

The company believes it is a significant advancement for patients with chronic total occlusions and provides Avinger with a market growth opportunity as chronic total occlusions present a technical challenge to physicians treating peripheral artery disease.

AVGR Share Price…

Avinger $AVGR/Source: TradingView

The news has sent Avinger’s share price racing higher. It is currently trading at $0.52 per share premarket, up 25%.

Sam Boughedda
Sam Boughedda
Team Member

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples. 

Stay ahead of the markets

Sign up to our free Morning Markets email, every weekday before the open.