Avinger Granted Continued Listing Decision From Nasdaq
January 19 2018 - 8:00AM
Avinger, Inc. (NASDAQ:AVGR), a leading developer of innovative
treatments for peripheral artery disease (PAD),
announced today that the Company has received formal
notification that the Nasdaq Hearings Panel (the “Panel”) has
granted the Company’s request for the transfer of its listing from
The Nasdaq Global Market to The Nasdaq Capital Market, pursuant to
an extension through March 31, 2018 to evidence compliance with all
applicable requirements for continued listing on Nasdaq, including
the applicable $1.00 bid price and $2.5 million stockholders’
equity requirements. The Company is taking definitive steps to
timely evidence compliance with the terms of the Panel’s decision;
however, there can be no assurance that it will be able to do so.
The Company’s common stock will begin trading on The Nasdaq Capital
Market effective with the open of business today, January 19, 2018.
Commenting on the Panel’s decision, Jeff Soinski, Avinger’s
president and CEO, noted, “We’re pleased with the Panel’s decision
and appreciate the additional time we now have to regain compliance
with Nasdaq’s listing standards. We are excited about the progress
we’re continuing to make in the product development and commercial
aspects of our business, and this decision by Nasdaq provides
additional time for us to execute on our plans to materially
improve the capitalization of the Company.”
About Avinger, Inc.
Avinger is a commercial-stage medical device company that
designs and develops the first-ever image-guided, catheter-based
system that diagnoses and treats patients with peripheral artery
disease (PAD). Avinger is dedicated to radically changing the way
vascular disease is treated through its Lumivascular platform,
which currently consists of the Lightbox imaging console, the
Ocelot family of chronic total occlusion (CTO) catheters, and the
Pantheris® family of atherectomy devices. Avinger is based in
Redwood City, California. For more information, please visit
www.avinger.com.
Forward-Looking StatementsThis news release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements
regarding future compliance with Nasdaq listing requirements and
the improvement of the Company’s capitalization. Such statements
are based on current assumptions that involve risks and
uncertainties that could cause actual outcomes and results to
differ materially. These risks and uncertainties, many of which are
beyond our control, include our dependency on a limited number of
products; our ability to demonstrate the benefits of our
Lumivascular platform; the resource requirements related to
Pantheris; the outcome of clinical trial results; potential
exposure to third-party product liability, intellectual property
and other litigation; lack of long-term data demonstrating the
safety and efficacy of our Lumivascular platform products;
experiences of high-volume users of our products may lead to better
patient outcomes than those of physicians that are less proficient;
reliance on third-party vendors; dependency on physician adoption;
reliance on key personnel; and requirements to obtain regulatory
approval to commercialize our products; as well as the other risks
described in the section entitled “Risk Factors” and elsewhere in
our quarterly Form 10-Q filing made with the Securities and
Exchange Commission on November 14, 2017. These forward-looking
statements speak only as of the date hereof and should not be
unduly relied upon. Avinger disclaims any obligation to update
these forward-looking statements.
Public Relations Contact:Phil PreussVP of
Marketing & Business OperationsAvinger, Inc.(650)
241-7900pr@avinger.com
Investor Contact:Matt FergusonChief Business
Officer & CFOAvinger, Inc.(650) 241-7917ir@avinger.com
Avinger (NASDAQ:AVGR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Avinger (NASDAQ:AVGR)
Historical Stock Chart
From Sep 2023 to Sep 2024