Avinger Receives Notice from NASDAQ Regarding Non-Compliance with Minimum Bid Price Rule

On November 20, 2024, Avinger, Inc. (NASDAQ: AVGR) received notification from The NASDAQ Stock Market, LLC (Nasdaq) regarding its non-compliance with Nasdaq Listing Rule 5550(a)(2). The rule states that the minimum bid price for the company’s listed securities has been below $1 for the preceding 32 consecutive business days.

Avinger has been granted a 180-day compliance period, ending on May 19, 2025, to rectify this deficiency. To regain compliance, the bid price of Avinger’s common stock must close at $1 or higher for a minimum of ten consecutive business days during this period. It is important to note that this notice does not impact the current listing of the company’s securities on Nasdaq.

Should Avinger fail to meet the compliance requirement within the initial 180-day period, there is a possibility of an additional 180 calendar days for compliance, provided that all other initial listing standards for Nasdaq, excluding Listing Rule 5550(a)(2), are met. Avinger may need to issue a written notice of its plan to address the deficiency during this extended compliance period, potentially involving actions such as a reverse stock split if necessary. Failure to comply or demonstrate eligibility may lead to a delisting notification from Nasdaq, following which Avinger can appeal the decision through Nasdaq’s prescribed procedures.

Avinger has expressed its commitment to actively monitoring its bid price and exploring available alternatives to rectify the deficiency, ensuring adherence to Nasdaq Listing Rules. As of November 22, 2024, Jeffrey M. Soinski, the Chief Executive Officer of Avinger, signed off on this report as authorized.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Avinger’s 8K filing here.

Avinger Company Profile

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) primarily in the United States and Germany. The company develops lumivascular platform that integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures.