false 0001506928 0001506928 2025-01-03 2025-01-03
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):
 
January 3, 2025
 
 
Avinger, Inc.
(Exact name of registrant as specified in its charter)
 
Delaware
001-36817
20-8873453
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
 
400 Chesapeake Drive
Redwood City, California 94063
(Address of principal executive offices, including zip code)
 
(650) 241-7900
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each
class:
  
Trading
Symbol(s):
  
Name of each exchange on which registered:
Common Stock, par value $0.001 per share
  
AVGR
  
The Nasdaq Capital Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 
Item 8.01. Other Events.
 
In an effort to preserve and more efficiently allocate resources, the Board of Directors (the “Board”) of Avinger, Inc. (the “Company”), has determined to shift the Company’s strategic focus from the manufacture and sale of products for the treatment of peripheral artery disease (“PAD”) to the development of image-guided devices to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (“CTO”), in the treatment of coronary artery disease (“CAD”).
 
In connection with this strategic shift, the Company has terminated 36 employees, including all sales and manufacturing personnel relating to the Company’s PAD products, effective January 3, 2025. Consequently, the Company will no longer manufacture PAD products and expects that it will no longer generate any revenues from the sales of PAD products. The Company does not believe that the change in strategic focus or the termination of employees will result in material charges.
 
The Company will focus its operations on research and development activities to develop CTO crossing devices for the treatment of CAD. There can be no guarantee that we will be successful in developing such products or, if such products are developed, that we will be able to successfully commercialize such products.
 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
   
AVINGER, INC.
       
       
Date: January 3, 2025
By:
/s/ Jeffrey M. Soinski
  
   
Jeffrey M. Soinski
Chief Executive Officer
 
 
v3.24.4
Document And Entity Information
Jan. 03, 2025
Document Information [Line Items]  
Entity, Registrant Name Avinger, Inc.
Document, Type 8-K
Document, Period End Date Jan. 03, 2025
Entity, Incorporation, State or Country Code DE
Entity, File Number 001-36817
Entity, Tax Identification Number 20-8873453
Entity, Address, Address Line One 400 Chesapeake Drive
Entity, Address, City or Town Redwood City
Entity, Address, State or Province CA
Entity, Address, Postal Zip Code 94063
City Area Code 650
Local Phone Number 241-7900
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol AVGR
Security Exchange Name NASDAQ
Entity, Emerging Growth Company false
Amendment Flag false
Entity, Central Index Key 0001506928
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