Shares of Avinger Inc. skyrocketed 63.5% on heavy volume in morning trading Monday, enough to make them the biggest gainers trading on major U.S. exchanges, after the medical device company announced the commercial launch of its Tigereye ST, an image-guided catheter-based system for the diagnosis and treatment of vascular disease. Trading volume soared to 26.5 million shares, compared with the full-day average of about 9,300 shares. “This device represents one of the most significant advancements in Avinger’s image-guided technologies for the treatment of peripheral artery disease,” said Chief Medical Officer Jaafer Golzar. “The unique combination of onboard image-guidance, steerability, ease of use, and crossing power expands the number of patients eligible for minimally invasive revascularization,” Golzar added. The stock, which closed Friday at a record low of $4.14, has now shed 58.5% year to date, while the S&P 500
SPX,
has gained 16.1%.
