Despite there being no news about the company in recent days, the generic pharmaceutical firm Teligent Inc (NASDAQ:TLGT) saw its stock suffer from a selloff this past Friday and decline by 4%.
The company, which is based out of New Jersey, announced its financial results for the fourth quarter of 2020 and for the full year 2020 back in March. As it happens, that was the last major news about the company of any kind. The Chief Executive Officer and President of the company, Tim Sawyer also spoke about the kind of progress that had been made by the company during that period.
Sawyer stated that although the company did suffer from disruptions caused by the COVID 19 pandemic, Teligent managed to make ‘remarkable strides’ in many segments of its business throughout the course of 2020. He thanked the dedication shown by the employees and the strong support from investors in this context. More importantly, the company managed to take care of some of its debts and strengthened its cash position as well.
In addition to that, Teligent also noted that it continued to work towards the remediation efforts related to the warning letters from the United States Food and Drug Administration.