|Company name||Avinger, Inc.|
NEW YORK, May 19, 2017 – Bragar Eagel & Squire, P.C. is investigating potential claims against Avinger, Inc. (NASDAQ: GRAM). Our investigation concerns whether Avinger has violated the federal securities laws and/or engaged in other unlawful business practices.
Avinger designs, manufactures, and sells medical devices used to treat patients with peripheral arterial disease. The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.
On January 30, 2015, Avinger held its IPO at $13 per share. On July 12, 2016, the Company announced second quarter revenue results and lowered its 2016 sales guidance from $25 – $30 million to $19 – $23 million, due in part to lower than anticipated sales of the Company’s Pantheris device. Following this news, Avinger shares fell $4.54 per share, or over 39.7%, to close at $6.89 on July 13, 2016.
Avinger shares have continued to decline. On May 17, 2017, shares closed at $0.40, a decline of over 96.9% from the IPO price.
If you purchased or otherwise acquired Avinger securities and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.