Avinger Inc’s VP of Finance sells $698 in frequent inventory

Subainati Nabeel Paul, Vice President of Finance at Avinger Inc (NASDAQ:AVGR), a micro-cap medical system firm with a market capitalization of $1.92 million and presently buying and selling at $0.59 per share, not too long ago reported a sale of frequent inventory. In keeping with InvestingPro knowledge, the inventory has skilled vital volatility, declining practically 80% over the previous yr. On January 23, 2025, Paul offered 1,255 shares at a mean worth of $0.5567 per share, totaling roughly $698. This transaction was essential to cowl tax withholding obligations associated to the vesting of restricted inventory models (RSUs) and doesn’t symbolize a discretionary commerce by Paul. Following this transaction, Paul holds 3,296 shares straight. InvestingPro evaluation suggests the inventory is presently undervalued, although the corporate’s general monetary well being rating is rated as WEAK. Uncover 11 extra key insights about AVGR and entry the excellent Professional Analysis Report, obtainable solely with an InvestingPro subscription.

In different current information, Avinger Inc, a medical system firm, reported a slight lower in whole income to $1.7 million for the third quarter. Regardless of this, enhancements in gross margins to 26% and a lower in working bills to $4.1 million had been noticed. The corporate has additionally made strategic strikes, halting the manufacturing and gross sales of its peripheral artery illness merchandise to concentrate on creating gadgets for treating coronary artery illness.

Avinger has declared dividends on its Collection E, F, and H Convertible Most well-liked Inventory and elevated the variety of designated shares of Collection F Most well-liked Inventory. This varieties a part of the corporate’s ongoing capital administration technique. Moreover, the corporate expanded its fairness incentive plan and prolonged its time period to 2034, offering incentives to workers, consultants, and non-employee Administrators by means of numerous types of grants.

Nevertheless, the corporate is going through a possible default on its monetary obligations attributable to a liquidity shortfall and is contemplating liquidation. Avinger’s govt officers have waived rights forward of this potential liquidation. Moreover, the agency is going through a possible delisting from the Nasdaq attributable to non-compliance with the minimal bid worth requirement. These are among the current developments for Avinger Inc.

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