Endologix (NSDQ:ELGX) today posted third quarter earnings that beat expectation on Wall Street and reiterated earlier guidance for the remaining year. The Irvine, Calif.-based company posted losses of $10.1 million, or 12¢ per share, on sales of $34.8 million for the three months ended September 30, seeing losses shrink 29.1% while sales shrunk 24.4% compared with […]
Endologix launches $20m offering
Endologix (NSDQ:ELGX), looking to refinance its debt, said it’s floating $20 million worth of its own shares in a public offering. The Irvine, Calif.-based stent graft maker said the offering also includes a 30-day underwriter’s option worth another $3 million. Endologix said it plans to use the proceeds to pay off $18.3 million worth of 2.25% […]
FDA: Endologix recall of AFX stent graft is Class I
Endologix (NSDQ:ELGX) said late last week that the FDA classified its voluntary recall of AFX Endovascular abdominal aortic aneurysm stent graft systems as Class I. Class I recall designations, the FDA’s most serious classification of recall, are used when there is a reasonable probability that product use could cause serious adverse health consequences or death. The […]
Endologix soars on Q3 prelims beat, raised outlook
Endologix (NSDQ:ELGX) share prices opened up nearly 28% today after the stent graft maker’s preliminary third-quarter sales beat the consensus forecast and it raised the bottom of its top-line outlook for the rest of the year. Irvine, Calif-based Endologix said it expects to report sales of $34.3 million to $34.7 million for the three months ended […]
Endologix takes out $210m convertible loan
Endologix (NSDQ:ELGX) has taken out a $210.5 million convertible loan facility, according to a recently posted SEC filing. The Irvine, Calif.-based company said that it entered into the loan facility for $210.5 and issued warrants to purchase, with three unnamed investors participating in the warrant purchase. The first sale in the offering was noted on August 9, […]
Report: Amazon adds MGH cardiologist Majmudar | Personnel Moves – August 21, 2018
Amazon (NSDQ:AMZN) has picked up well-known cardiologist Dr. Maulik Majmudar for a new role within the company as it looks to continue its foray into healthcare, according to a recent CNBC report. The announcement was made by Majmudar himself on Twitter, according to the report, though he did not state what his specific role within the […]
Endologix pushes Nellix release timeline to 2021
Endologix (NSDQ:ELGX) said it doesn’t expect to receive FDA premarket approval for its Nellix 3.5 endovascular sealing system until 2021. The Irvine, Calif.-based company this week updated on its estimated timeline for anticipated FDA approval, saying it expects to land premarket approval for the Nellix stent graft by the first half of 2021. The forecast is […]
Endologix shares plunge on Q2 earnings miss
Shares in Endologix (NSDQ:ELGX) have lost nearly 40% after the company released second quarter earnings that missed loss per share expectations on Wall Street and lowered its guidance for the full year. The Irvine, Calif.-based company posted losses of $23.9 million, or 28¢ per share, on sales of $44.7 million for the three months ended June 30, […]
NinePoint Medical lifts Namati to the corner office | Personnel Moves – July 10, 2018
NinePoint Medical said earlier this month that it appointed Eman Namati as its new president and chief executive officer, succeeding Christopher von Jako who will remain on the company’s board of directors. Namati joined NinePoint Medical at its inception in 2010 as a technical co-founder, and operated as R&D VP for the past four years, […]
Endologix reports 1-year data from Ovation registry
Endologix (NSDQ:ELGX) this week touted 1-year results from its Lucy registry – a study that prospectively assessed endovascular aneurysm repair outcomes in women compared to men. The Irvine, Calif.-based company said that data from the study showed that at least 28% more women are eligible for minimally-invasive EVAR with Endologix’s Ovation abdominal stent graft system […]
FDA warns on leak risk with discontinued Endologix stent graft
The FDA yesterday warned of an increased risk of serious endoleaks with a discontinued stent graft once made by Endologix (NSDQ:ELGX). Last September the federal safety watchdog warned physicians about the risk of endoleaks with stent grafts used to wall off aneurysms in the abdominal aorta. The FDA said at the time that the warning was […]
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