Endologix Inc. (ELGX) said Thursday it got U.S. Food and Drug
Administration approval for 31 new sizes of stent grafts.
Shares climbed 4.7% to $4.46 in recent trading. The stock is
down 16% this year.
The developer of minimally invasive treatments for aortic
disorders, which broke even in its latest quarter as revenue jumped
18%, hasn't been profitable but has seen losses narrow in recent
periods. In March it added medical device veteran Thomas Wilder to
its board.
The approval for new sizes of the company's Powerlink stent
grafts--the company's flagship product--increases the amount of
patients they can treat by 5% to 10%. The stent grafts treat
abdominal aortic aneurysms, a balloon-like enlargement of the
largest artery in the body.
The new products will be launched during the fourth quarter,
following a limited-release launch at the annual meeting of the
Society for Vascular Surgery, Thursday through Sunday in
Boston.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com