secwatch.observer — SEC 8-K summary
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Issuer:     Avinger Inc (—)
CIK:        0001506928
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001437749-24-017102
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avinger Q1 2024 revenue flat at $1.9M; gross margin drops to 18%, net loss widens to $5.5M
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- Revenue $1.9M unchanged YoY and QoQ; gross margin fell to 18% from 34% in Q1 2023.
- Net loss of $5.5M vs $4.6M in Q1 2023; operating expenses rose to $5.4M.
- Secured up to $15M equity funding from Zylox-Tonbridge; $7.5M funded in March 2024.
- Initiated Phase III studies for coronary CTO-crossing system; IDE submission expected Q3 2024.
- Exchanged $61M Series A preferred stock for new Series A-1 with $10M value and no liquidation preference.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1506928/000143774924017102/0001437749-24-017102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1506928/000143774924017102/avgr20240514_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-017102

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer