AVINGER INC: Ernst & Young LLP Raises Going Concern Doubt

Avinger, Inc., filed with the U.S. Securities and Exchange Commission its annual report on Form 10-K, disclosing a net loss of $56.13 million on $19.21 million of revenues for the fiscal year ended December 31, 2016, compared to a net loss of $47.34 million on $10.71 million of revenues for the fiscal year ended December 31, 2015.

Ernst & Young LLP notes that the Company’s recurring losses from operations and its need for additional capital raise substantial doubt about its ability to continue as a going concern.

The Company’s balance sheet at December 31, 2016, showed total assets of $53.56 million, total liabilities of $49.32 million, and a stockholders’ equity of $4.24 million.

A full-text copy of the Company’s Form 10-K is available at:

https://is.gd/29phM2

About Avinger, Inc.

Avinger, Inc., is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system. The Company manufactures and sells a suite of products in the United States and
certain European markets.