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June 17, 2014
09:06 EDTELGXEndologix announces revenue milestone for Nellix EndoVascular System
Endologix announced that it has achieved $10M in trailing twelve month international sales of the Nellix EndoVascular Aneurysm Sealing System, triggering a milestone payment to the former Nellix stockholders, in the form of 2,666,555 shares of Endologix common stock. Based on the company's 2010 acquisition agreement for Nellix, the revenue milestone triggered a $20M payment in Endologix common stock to former Nellix stockholders. The stock price used to calculate the share payment is subject to a floor of $3.50 and a ceiling of $7.50. Accordingly, because Endologix's stock price is currently above the $7.50 ceiling, the company will issue 2,666,555 shares by the end of June. Nellix has obtained CE Mark and is currently undergoing a U.S. Investigational Device Exemption trial to establish clinical evidence for U.S. Food and Drug Administration approval. The U.S. study, EVAS FORWARD-IDE is approved to enroll 180 patients at up to 30 sites in the U.S., Canada and Europe. The EVAS FORWARD Global Registry is planned to include 300 patients enrolled in up to 30 international centers. Nellix has not been approved for marketing or commercial sale in the U.S.
News For ELGX From The Last 14 Days
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September 30, 2014
07:28 EDTELGXEndologix weakness a buying opportunity, says Canaccord
Canaccord would use the weakness in Endologix following its preliminary Q3 results as a chance to accumulate the shares. The firm believes the Nellix opportunity remains intact and sees its European performance as a precursor to great things to come for its technology. Canaccord reiterates its Buy rating and $17.50 price target on Endologix shares.
September 29, 2014
12:18 EDTELGXOn The Fly: Midday Wrap
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11:39 EDTELGXEndologix plummets to 52-week low after cutting outlook
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07:24 EDTELGXStephens to hold an investor trip
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07:09 EDTELGXEndologix reports preliminary Q3 revenue approximately $37M, consensus $37.68M
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07:07 EDTELGXEndologix lowers FY14 adjusted EPS view to (43c)-(37c) from (33c)-(27c)
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06:56 EDTELGXEndologix completes enrollment in EVAS FORWARD Global Registry
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06:51 EDTELGXEndologix to initiate prospective randomized EVAR clinical study
Endologix announced that it will conduct the first ever prospective randomized clinical study to compare outcomes in endovascular repair of abdominal aortic aneurysms. The LEOPARD Study has been designed to provide an accurate and unbiased assessment of commercially available EVAR devices with a planned enrollment of 600 patients. LEOPARD will include up to 60 active EVAR centers throughout the United States. The primary endpoint of the study is treatment success at one year based upon: procedural success; and rates of freedom from aneurysm rupture; conversion to open surgical repair; endoleaks; clinically significant device migration; aneurysm enlargement and secondary endovascular procedures. Results from the study will be independently adjudicated by a third-party. The follow-up period will be five years.

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