A New Patent Could Be The Golden Ticket For This Biotech Stock
Avinger, Inc. (NASDAQ: AVGR), a leading developer of image-guided, catheter-based systems for the diagnosis and treatment of patients with Peripheral Artery Disease (PAD), announced the issuance of a new U.S. patent related to the Company’s proprietary optical coherence tomography (OCT) intravascular imaging system.
The Company also announced the allowance of five additional U.S. patent applications that are expected to issue over the next six months.
“The U.S. Patent and Trademark Office (USPTO) issued U.S. Patent No. 10,244,934, titled “Atherectomy Catheter Drive Assemblies,” on April 2, 2019. The patent covers drive assemblies, which are a key component of the Company’s proprietary OCT intravascular imaging system.
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These assemblies are currently used in the Company’s Pantheris image-guided atherectomy systems and are integral to the Company’s pipeline products.
Avinger has also received notices of allowance from the USPTO for five additional U.S. patents. These patents will provide coverage for key features related to the Company’s OCT intravascular imaging system, the Pantheris family of atherectomy catheters, and the Company’s next-generation high-speed CTO-crossing systems currently in development.”
Jeff Soinski, Avinger’s President and CEO, said: Our R&D team continues to bring innovation to our product portfolio and advance our Lumivascular technology.
Pursuing and obtaining effective intellectual property protection for these innovations is a critical part of our growth strategy. We are pleased with the progress we are making in this area as we expand our issued patent portfolio and file new patent applications for our technologies.”
Avinger’s extensive intellectual property portfolio now includes 149 patents and applications, including 27 issued and allowed U.S. patents, 27 pending U.S. applications, 47 issued and allowed patents outside the U.S., and 48 pending applications outside the U.S.
The portfolio has broad applicability in the areas of atherectomy, CTO-crossing and intravascular imaging.
The company also recently announced “the publication of very promising clinical outcomes data from a study evaluating the performance of the Pantheris® Lumivascular atherectomy system combined with antirestenotic therapy in the treatment of PAD.
This retrospective single-center, single-arm study has been published in the April 2019 issue of the peer-reviewed Journal of Cardiovascular Surgery under the title “Optical Coherence Tomography Guided Directional Atherectomy with Antirestenotic Therapy for Femoropopliteal Arterial Disease.”
This could be the beginning of a bright future for this cheap biotech stock. Investors should watch the stock closely.
AVGR should be considered a long-term growth opportunity if momentum picks up.
Look for an entry at $0.64 with a price target of at least $1.16 based on the pattern in the chart.