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Endologix Stung By Double-Whammy Suspensions

 
• By Tina Tan

The specialist in stent grafts for abdominal aortic aneurysms, Endologix, has suspended shipments of its AFX AAA repair system after discovering that a manufacturing issue was causing damage to some devices. This is the second knock-back the company's biggest seller has had in as many weeks, following a CE-mark suspension earlier this month.

Endologix Inc., said to be the biggest company dedicated to endovascular treatment of abdominal aortic aneurysms (AAAs), saw its share price plummet to a 52-week low after it announced it was temporarily holding off shipments of its AFX AAA repair system while it resolves a manufacturing issue that was causing damage to the graft material in some sizes of the device. Sales of AFX account for around 60%-65% of Endologix's total revenue.

The firm's stock price fell to $5.26 amidst heavy volume trading on the Nasdaq on Dec. 27. This represents a 27% drop from $7.19, the closing price on Dec. 23,...

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