Net loss and comprehensive loss for the first quarter of 2021 was $5.1 million, compared with $5.9 million in the first quarter of 2020. Adjusted EBITDA, as defined under non-GAAP measures in this press release, was a loss of $4.0 million, compared with a loss of $4.8 million in the first quarter of 2020. For more information regarding non-GAAP financial measures discussed in this press release, please see "Non-GAAP Financial Measures" below, as well as the reconciliation of GAAP to non-GAAP measures provided in the tables below. Cash and cash equivalents totaled $30.4 million as of March 31, 2021, compared with $22.2 million as of December 31, 2020. Avinger raised approximately $13.1 million in net proceeds from a bought deal offering in the first quarter of 2021. Additionally, Avinger amended the CRG loan agreement in January 2021, this article including the extension of the interest only period and maturity date of the term loan by 2 ½ years. The maturity date is extended to December 31, 2025. In April 2021, Avinger received confirmation that its $2.3 million Paycheck Protection Program Loan was fully forgiven by the U.S. Small Business Administration and that there was no remaining balance on the PPP Loan. Avinger expects to record a gain on debt forgiveness in the second quarter of 2021 as a result of this forgiveness. Avinger will hold a conference call today, May 6, 2021 at 4:30 pm ET to discuss its first quarter 2021 financial results. Individuals interested in listening to the conference call may do so by dialing +1-862-298-0850. To listen to a live webcast, please visit http://www.avinger.com and select Investor Relations. A webcast replay of the call will be available on Avinger's website following completion of the call at www.avinger.com . Avinger is a commercial-stage medical device company that designs and develops the first and only image-guided, catheter-based system for the diagnosis and treatment of patients with Peripheral Artery Disease (PAD). PAD is estimated to affect over 12 million people in the U.S. and over 200 million worldwide. Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot and TigereyeTM family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, California. For more information, please visit www.avinger.com .https://finance.yahoo.com/news/avinger-reports-first-quarter-2021-200100927.html
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