Key Developments For Endologix Inc
Endologix Inc (ELGX.O) (Consolidated Issue listed on NASDAQ Global Market)
Endologix, Inc. Reiterates FY 2009 Revenue Outlook
Endologix, Inc. reiterated its fiscal 2009 outlook and expects revenue in the range of $51-$53 million. According to Reuters Estimates, analysts were expecting the Company to report revenues of $52 million for the same period.
Endologix, Inc. Responds to Alleged Patent Infringement
Endologix, Inc. announced that it has conducted further evaluation of the patent infringement lawsuit filed against the Company last week by Cook Medical, and of the patents asserted in the lawsuit. Based upon this evaluation, Endologix believes that the alleged infringement is without merit and the Company intends to vigorously defend its position.
Endologix, Inc. Comments On Alleged Patent Infringement
Endologix, Inc. announced that it has become aware that Cook Medical has filed a lawsuit against Endologix, Inc. in the United States District Court alleging that Endologix, Inc. infringes two of Cook's U.S. patents.
Endologix, Inc. Announces Publication of Powerlink XL Clinical Trial Results
Endologix, Inc. announced the online publication of results from the pivotal prospective, multicenter clinical trial of the Company's Powerlink XL((R)) System for treatment of abdominal aortic aneurysm in large diameter proximal aortic necks. This publication follows the U.S. Food and Drug Administration (FDA) approval in October 2008 of the device and treatment algorithm as a safe and effective endovascular option in patients with infrarenal aortic necks up to 32 millimeters in diameter. The trial showed aneurysm exclusion in 100% of patients at the pivotal one-year follow-up timepoint, with no conversions to open surgical repair, no ruptures and no device migrations. In addition, core lab evaluations of one-year follow up results show 96% of patients had reduced or stable aneurysm sac diameters and there were no aneurysm related mortalities, no stent fractures or limb occlusions, and no Type III or Type IV endoleaks.
Endologix, Inc. Announces Pricing of Public Offering of Common Stock
Endologix, Inc. announced that it has entered into an agreement to sell 3,900,000 shares of its common stock in an underwritten public offering at a price to the public of $4.10 per share. The gross proceeds to Endologix, before offering expenses, from the sale of shares are expected to be $15,990,000. The closing of the offering is expected to take place on August 4, 2009. Piper Jaffray & Co. will be the sole manager for the offering.
