Lombard Medical, Inc. (EVAR)

Lombard Medical, Inc. was a medical device company that developed, manufactured and sold products for the minimally invasive repair of abdominal aortic aneurysms, a dangerous ballooning of the body's main artery. Its main product was the Aorfix endovascular stent graft, designed to treat patients whose aortic anatomy was highly angulated and therefore difficult to treat with competing devices. The company was based in Oxfordshire in the United Kingdom.

The business had earlier been listed in London as Lombard Medical Technologies. It later reorganized under a Cayman Islands holding company and sought a US listing, filing in 2014 for an initial public offering on Nasdaq. Its shares traded under the symbol EVAR, a nod to endovascular aneurysm repair, the procedure its products were used in. US approval of Aorfix gave it access to the largest market for such devices.

Lombard competed against much larger device makers in the aortic stent graft market and never reached profitability. Sales growth was slower than hoped, the company burned through cash and its share price fell sharply. On November 6, 2016 Nasdaq notified it that its stock had closed below the $1.00 minimum bid price, and in May 2017 Nasdaq allowed it to move to the Nasdaq Capital Market with a deadline of November 6, 2017 to regain compliance.

The company did not get its share price back above $1. On October 30, 2017 it announced that it would voluntarily delist from Nasdaq and move its shares to the OTCQX market, which it described as a cheaper way to keep a public market. Its last day of trading on Nasdaq was November 8, 2017, and trading on the OTCQX was set to begin on November 9, 2017, still under the symbol EVAR.