Avinger (NSDQ:AVGR) shares stood still this morning on second-quarter sales numbers that topped the consensus forecast.
The Redwood City, Calif.-based image-guided catheter developer posted losses of -$3.5 million on sales of $2.8 million for the three months ended June 30, 2021, for a 43.1% bottom-line gain on sales growth of 9.5%.
Earnings per share came in at -4¢, level with projections on Wall Street, where analysts were looking for sales of $2.7 million.
“Avinger’s 2021 growth momentum continued in the second quarter as we delivered strong revenue gains for both our Pantheris atherectomy and image-guided CTO product lines and procedural volume improving in the first half of the year,” Avinger president & CEO Jeff Soinski said in a news release. “Pantheris SV has been a standout solution, generating strong user interest based on its compelling clinical advantages in the treatment of below-the-knee lesions. We are also benefitting from the positive market response to our new Tigereye CTO-crossing device, which has now been launched at more than 40 sites with a pipeline of new accounts in process.
“This is an exciting time for Avinger as we recently filed two new 510(k) submissions to support future growth opportunities. … With a growing portfolio of best-in-class products, strong clinical efficacy data, a robust sales team and strong balance sheet, we are excited about the future.”
Avinger did not provide financial guidance for the coming quarters or for the full 2021 financial year.
AVGR shares were unmoved at 97¢ per share as the market opened this morning. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.1%.