Navigation Links
Endologix Receives Nasdaq Letter on Director Independence
Date:6/12/2009

IRVINE, Calif., June 12 /PRNewswire-FirstCall/ -- Endologix, Inc. (Nasdaq: ELGX), developer of minimally invasive treatments for aortic disorders, today announced that on June 12, 2009, the Company received written notification from Nasdaq that the Company was no longer in compliance with Marketplace Rule 4350(c), which addresses independent director requirements.

In order to meet the requirements of this rule, the Company must maintain a board which is comprised of a majority of independent directors. Following the Company's Annual Meeting of Shareholders on June 11th, 2009, the current board composition reflects three independent and three non-independent directors. Consistent with Marketplace Rule 4350(c) (1), Nasdaq will provide the company a cure period in order to regain compliance until the earlier of the Company's next annual shareholders' meeting or June 11, 2010.

The Company is currently engaged in a search for a new independent director and fully expects to fulfill Nasdaq's independent director requirements within the allotted cure period.

The Company must submit to Nasdaq documentation, including biographies of any new directors, evidencing compliance within the allotted cure period. In the event the Company does not regain compliance within this cure period, Nasdaq rules require Staff to provide written notification to the Company that its securities will be delisted. At that time, the Company may appeal the delisting determination to a Listing Qualifications Panel.

About Endologix

Endologix, Inc. develops and manufactures minimally invasive treatments for aortic disorders. The Company's flagship product is the Powerlink(R) System, which is an endovascular stent graft for the treatment of abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 75%, making it a leading cause of death in the U.S. Additional information can be found on Endologix's Web site at www.endologix.com.

Except for historical information contained herein, this news release contains forward-looking statements, specifically with respect to the fulfillment of Nasdaq independent director requirements, which are necessarily subject to risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Endologix. The Company undertakes no obligation to update its forward looking statements. Please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2008, and the Company's other filings with the Securities and Exchange Commission, for more detailed information regarding risks and other factors that may cause actual results to differ materially from those expressed or implied.

    COMPANY CONTACT:                     INVESTOR CONTACTS:
    Endologix, Inc.                      The Ruth Group
    John McDermott, CEO                  Nick Laudico (646) 536-7030
    (949) 595-7200                       Zack Kubow (646) 536-7020
    www.endologix.com


'/>"/>
SOURCE Endologix, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Endologix Announces Full Commercial Launch of IntuiTrak Express Delivery System
2. Anderson ED Team Receives Pinnacle Award for Excellence in Customer Service
3. Western Governors University Nursing Education Program Receives $500,000 Grant from the Texas Workforce Commission
4. Oncology Program at Texas Health Dallas Receives Outstanding Achievement Award
5. SeprOx Receives Texas Emerging Technology Fund Award
6. SHPS Receives Re-Accreditation from URAC for Multiple Health Management Programs
7. Herley Receives a $1.2 Million Contract Award for Complex Integrated Microwave Assemblies for U.S. Electronic Attack Aircraft
8. Elder Care Expert Doctor Marion Receives Accolades from Lehman College, Mature Market Resource Center in Same Week
9. Medifocus, Inc. receives Authorization Approval from Health Canada to launch its pivotal Phase III clinical study of focused microwave heating for treatment of breast cancer in Canada
10. Keryx Biopharmaceuticals, Inc. Receives Extension for Nasdaq Listing Compliance
11. MedApps Receives FDA Clearance on a New Way to Bring Cost-Effective Remote Health Monitoring to More People
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/17/2017)... , ... January 17, 2017 , ... Neil H. Greco ... planning assistance to communities throughout the region, is launching a charity drive to raise ... is by far the deadliest killer in America, and is responsible for 1 in ...
(Date:1/17/2017)... ... ... SC&H Group, a leading audit, tax, and consulting firm, announced that Chris Rossi ... . Rossi is the third technology consulting leader to join SC&H Group’s IT Advisory ... practice continues to expand.     , Bringing more than 25 years of business consulting and ...
(Date:1/17/2017)... ... January 17, 2017 , ... Seceon ... cyber threats in real-time, today announced a strategic partnership with TechLab Security, ... Joining other Seceon partners, TechLab Security has become a strategic partner and a ...
(Date:1/17/2017)... ... January 17, 2017 , ... ... offices in Tyler, has announced the latest beneficiary of their thriving community involvement ... nonprofit organization dedicated to fulfilling the dreams of terminally ill patients. Donations to ...
(Date:1/17/2017)... ... ... Many people make New Year’s resolutions or renew their commitment to better health with the ... people who want to kick off 2017 with better smiles. Dr. Mondavi is offering several ... offers include: , , A new patient package for just $49, ...
Breaking Medicine News(10 mins):
(Date:1/17/2017)... ® Technologies, Inc. announces that the Journal ... of Vibration on Molar Distalization," a study that focused ... Bowman , this prospective, peer-reviewed clinical study concluded that ... speeds up molar distalization rates in the apex ... to move the upper molars into a normal, Class ...
(Date:1/17/2017)... , Jan. 17, 2017 Following an ... today praised the Food and Drug Administration,s (FDA,s) ... Human Drug Products by Pharmacies and Outsourcing Facilities." ... proposed limitation on pre-packaging -- which would have ... costs to long term care (LTC) pharmacies.  ...
(Date:1/17/2017)... DUBLIN , Jan 17, 2017 Research ... Ingredients/API Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, ... CVD) - Global Forecast to 2021" report to their offering. ... The global ... by 2021 from USD 157.95 Billion in 2016, growing at a ...
Breaking Medicine Technology: