Endologix Announces Preliminary Financial Results for First Quarter 2020
ENDOLOGIX (ELGX)
Last endologix earnings: 2/19 04:01 pm
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US:NASDAQ Investor Relations:
investor.endologix.com
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Source: Business Wire
IRVINE, Calif.--(BUSINESS WIRE)--Endologix, Inc. (the “Company”) (NASDAQ: ELGX), a developer and marketer of innovative treatments for aortic disorders, today announced that its preliminary unaudited revenue for the first quarter ended March 31, 2020 is expected to be approximately $28.5 million.Total cash, cash equivalents, and restricted cash as of March 31, 2020 are expected to be approximately $42.4 million, including approximately $10.5 million outstanding under the Company’s revolving credit facility with certain affiliates of Deerfield Management Company, L.P.In March, the Company began to experience deferrals of abdominal aortic aneurysm (AAA) procedures as healthcare systems shifted focus to treating COVID-19 patients. To date, these deferrals have impacted smaller-diameter, less-severe aneurysms more acutely than larger-diameter or ruptured aneurysms that require scheduled or immediate intervention. The Company believes that the majority of the aforementioned aneurysms w
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