Teligent, Inc. Management Comments on Recent Market Movements
April 12 2019 - 3:00PM
Teligent, Inc. (NASDAQ: TLGT), a New Jersey-based specialty generic
pharmaceutical company, today provided commentary on the recent
market movements in the price of its stock.
“Teligent acknowledges that there have been
significant negative movements in the value of our stock over the
past many days. We are not aware of any fundamental news or change
in the financial condition of the company that could justify the
magnitude of these changes,” commented Jason Grenfell-Gardner,
President and CEO of Teligent. “We continue to believe in the
guidance that we have provided the market for 2019. This includes
achieving double digit top line percentage growth with revenues in
excess of $72.5 million, a consolidated gross margin above 40%, a
consistent investment in R&D of $13 – 15 million, and an
adjusted EBITDA margin greater than 10% after adding back any
foreign currency gains or losses and non-cash stock expenses.”
“In addition, we have continued to advance our
plan to start-up manufacturing of commercial product in our sterile
injectable facility. We have recently confirmed with the United
States Food and Drug Administration (“FDA”) an expedited review
pathway for the first injectable drug that will trigger FDA
inspection of the site. We are confident that this plan will allow
us to commercialize product and recognize revenue at the earliest
possible point,” continued Mr. Grenfell-Gardner.
“To date in 2019, Teligent has received a 4 drug
approvals and launched 4 new drugs. This has further bolstered our
belief in the underlying economics of our business that supports
our guidance for the year. We are grateful for the continued
support of our shareholders during this dynamic time, and we look
forward to sharing our results with you for the first quarter of
2019 in early May,” Mr. Grenfell-Gardner concluded.
About Teligent, Inc.
Teligent is a specialty generic pharmaceutical
company. Our mission is to be a leading player in the
specialty generic prescription drug market. Learn more on our
website www.teligent.com.
Contact:
Damian Finio Teligent, Inc. 856-336-9117 www.teligent.com
Forward-Looking Statements
This press release includes certain
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, but are not limited to, plans, objectives,
expectations and intentions, and other statements contained in this
press release that are not historical facts and statements
identified by words such as “plan,” “believe,” “continue,” “should”
or words of similar meaning. Factors that could cause actual
results to differ materially from these expectations include, but
are not limited to: our inability to meet current or future
regulatory requirements in connection with existing or future
ANDAs; our inability to achieve profitability; our failure to
obtain FDA approvals as anticipated; our inability to execute and
implement our business plan and strategy; the potential lack of
market acceptance of our products; our inability to protect our
intellectual property rights; changes in global political,
economic, business, competitive, market and regulatory factors; and
our inability to complete successfully future product
acquisitions. These statements are based on our current
beliefs or expectations and are inherently subject to various risks
and uncertainties, including those set forth under the caption
“Risk Factors” in Teligent, Inc.’s most recent Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and other periodic
reports we file with the Securities and Exchange Commission.
Teligent, Inc. does not undertake any obligation to update any
forward-looking statements contained in this document as a result
of new information, future events or otherwise, except as required
by law.
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