Beginning today, Endologix’s common stock will trade on the Nasdaq Global Select market on a reverse stock split-adjusted basis, the Irvine, Calif.-based company reported.
Following the reverse split, there will be roughly 10.3 million shares of issued and outstanding common stock, according to Endologix. The company’s stock will continue to trade under the ‘ELGX’ ticker.
In February, Endologix posted fourth-quarter and full-year results that missed sales and earnings estimates on Wall Street.
Earlier this year, the company reported that the CE Mark approval for its Nellix stent graft system designed to treat abdominal aortic aneurysms was suspended by its notified body, GMED.
The move came after data left Endologix “concerned that outcomes are suboptimal when the system is used outside current indications for use,” CMO Dr. Matt Thompson said.