Avinger CTO Himanshu Patel sells $1,233 in widespread inventory

In a current transaction, Himanshu Patel, the Chief Know-how Officer of Avinger Inc (NASDAQ:AVGR), offered 2,215 shares of the corporate’s widespread inventory. In keeping with InvestingPro knowledge, the corporate’s inventory has skilled important volatility, declining practically 80% over the previous 12 months. The shares have been offered at a median value of $0.5567, amounting to a complete worth of $1,233. This transaction was carried out to cowl tax withholding obligations associated to the vesting of restricted inventory items on January 18, 2025. Following this sale, Patel holds 39,062 shares immediately. It is necessary to notice that this was not a discretionary commerce however a needed motion to satisfy tax necessities. InvestingPro evaluation signifies the corporate is presently buying and selling beneath its Honest Worth, with regarding monetary well being metrics together with detrimental EBITDA of -$17.18M within the final twelve months. Uncover 11 further key insights about AVGR with an InvestingPro subscription, together with detailed valuation metrics and development prospects.

In different current information, Avinger Inc, a medical machine firm, reported a slight lower in whole income to $1.7 million for the third quarter. Regardless of this, the corporate noticed enhancements in gross margins to 26% and a lower in working bills to $4.1 million. In a strategic shift, Avinger has halted the manufacturing and gross sales of its peripheral artery illness merchandise to give attention to creating units for treating coronary artery illness, resulting in the termination of 36 workers.

The corporate has additionally declared dividends on its Sequence E, F, and H Convertible Most well-liked Inventory and elevated the variety of designated shares of Sequence F Most well-liked Inventory. Moreover, Avinger expanded its fairness incentive plan and prolonged its time period to 2034.

Nonetheless, Avinger is going through a possible default on its monetary obligations as a consequence of a liquidity shortfall and is contemplating liquidation. The corporate’s govt officers have waived rights forward of this potential liquidation. Dealing with a possible delisting from the Nasdaq as a consequence of non-compliance with the minimal bid value requirement, these developments current a difficult outlook for Avinger Inc.

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