Endologix Inc.
(Nasdaq:ELGX)

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ABOUT THE COMPANY

Located in Irvine, CA, Endologix, Inc. is an innovative company developing a minimally invasive technology for the treatment of abdominal aortic aneurysms (AAA) and most recently, acute aortic dissections (AAD). The company came public through a reverse merger with Radiance Medical in May 2002 and has followed a long, and sometime tortuous journey through product development, clinical trials and finally into full commercialization in early 2005. 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 the thirteenth leading cause of death in the U.S.

In the U.S. alone there are 2.0+ million people with AAA which represents a procedure market of approximately 60,000 of which 35,000 are performed percutaneously and a revenue opportunity of about $440 million. The AAA market on a world wide basis in 2008 was approximately $700 million and is growing at an estimated 8-10% in the U.S., 3-6% in Europe and 10-12% in Asia-Pacific for an overall growth rate of approximately 9-10-%. The company was founded in 1992 as Cardiovascular Dynamics, Inc. and has approximately 190 employees.

Endologix Inc.

DISCLOSURES AND DISCLAIMER
(as contained in the most recent Research Report)

Ratings and Price Target Changes over Past 3 Years
Initiated April 28, 2009 - Strong Buy - Price Target $4.50

Analyst Certification: The analyst whose name appears on this research report certifies that a.) All of the views expressed in this report accurately reflect his personal views about any and all of the subject securities or issuers discussed b.) No part of the analyst’s compensation is directly or indirectly related to the specific recommendations or views expressed in this research report and c.) the analyst responsible for preparing this research report may be eligible to receive other compensation based upon various factors including total revenues and profitability of the Firm, which may include revenues from investment banking and non-investment banking services.

Compensation: NextWave Research has not received any compensation from the Company or any third party.

Ratings Definitions: 1) Strong Buy: the stock is expected to appreciate and produce a total return of at least 40% over the next 12-18 months; 2 ) Buy: the stock is expected to appreciate and produce a total return of at least 20% over the next 12-18 months ; 3 ) Strong Speculative Buy: the stock is expected to appreciate and produce a total return of at least 40% over the next 12-18 months but the volatility and investment risk is substantially higher than our "Strong Buy" recommendation; 4) Speculative Buy: the stock is expected to appreciate and produce a total return of at least 20% over the next 12-18 months but the volatility and investment risk is substantially higher than our "Buy" recommendation; 5) Neutral: the stock is fairly valued for the next 12-18 months; 6 ) Avoid/Sell: the stock is expected to decline at least 20% over the next 12-18 months and should be avoided or sold if held; 7) Under Review: the previous rating and/or price target is suspended due to a significant event which now requires additional analysis and the previous rating and/or price target cannot be relied upon; 8) Not Rated: the stock has too much business or financial uncertainty to form an investment conclusion or is currently in the process of being acquired and 9) Restricted: coverage cannot be initiated or has been temporarily suspended to comply with applicable regulations and/or firm policies in certain circumstances such as investment banking or an advisory capacity involving the company. 

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Statements in this report that are not historical facts are “forward-looking statements” that involve risks and uncertainties. “Forward looking statements" as defined under Section 27A of the Securities Act of 1933, Section 21B of the Securities Exchange Act of 1934 and the Private Securities Litigation Act of 1995 include words such as “opportunities,” “trends,” “potential,” “estimates,” “may,” “will,” “could,” “should,” “anticipates,” “expects” or comparable terminology or by discussions of strategy. These forward looking statements are subject to a number of known and unknown risks and uncertainties outside of the company's or our control that could cause actual operations or results to differ materially from those anticipated. Factors that could affect performance include, but are not limited to, those factors that are discussed in each profiled company's most recent reports or registration statements filed with the SEC. Investors should consider these factors in evaluating the forward looking statements included in this report and not place undue reliance upon such statements. Investors are encouraged to read investment information available at the websites of the SEC at http://www.sec.gov and FINRA at http://www.finra.org.