April 10, 2017 / 8:15 PM / 3 months ago

BRIEF-Avinger sees Q1 2017 revenue of about $3.5 mln

2 Min Read

April 10 (Reuters) - Avinger Inc:

* Avinger provides strategic update

* Sees q1 2017 revenue about $3.5 million

* Sees q1 2017 revenue down 22 percent

* Announced that it has been conducting a review of various strategic alternatives focused on maximizing shareholder value

* Reducing its workforce by approximately 33% compared to year-end 2016, to a total of 131 full-time equivalent employees

* Avinger-Potential strategic alternatives include raising capital from strategic investors, partnerships for distribution of products,sale/merger of co

* Avinger - based on organizational changes and expense reduction measures, expects cash utilization to decrease to about $7 million per quarter by h2 of 2017

* Expects cash currently on hand will be sufficient to fund operations through end of 2017

* Expects to file a 510(k) application for pantheris btk device in q4 of 2017

* Avinger- based on changes,other expense reduction measures, co expects cash utilization to decrease to abouty $7 million per quarter by second half of 2017

* Final results from pivotal vision study of company's lumivascular technology expected to be released by end of june 2017 Source text for Eikon: Further company coverage:

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