Strong sales of its Pantheris optical coherence tomography atherectomy device helped intravascular imaging technology developer Avinger to a 6% increase in revenue and an improvement in net loss in its fourth quarter.
For the period (end-December 31, 2018), Avinger had total revenue of $2 million, up from $1.9 million in the fourth quarter of 2017. Revenue from Pantheris reached $1 million, up 74% from the same period a year ago.
The company posted a net loss attributable to common stock shareholders of $6.9 million, compared with a net loss of $10.2 million in the same period of 2017.
For 2018, Avinger had total revenue of $7.9 million, down 20% from the $9.9 million reported in 2017. The company attributed the revenue decline to the reduction of its commercial sales organization in 2017. The company's net loss for the year was $35.7 million, compared with $48.7 million in 2017.