BUENA, N.J., April 12, 2019 (GLOBE NEWSWIRE) — 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.
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.