Avinger announces job cuts in unit; shares rise

Avinger

05/06/2024 14:55

** Shares of medical device company Avinger  AVGR.O  rise
12.7% to $2.12
    ** To reduce operating costs of its peripheral artery
disease business, company has decided to reduce headcount in the
unit by 33%
    ** Job cuts expected to provide significant cost savings in
second half of 2024
    ** Company will increase focus on its coronary artery
disease program
    ** Including session moves, stock down 30.3% YTD

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))