Generic pharmaceutical firm Teligent Inc (NASDAQ:TLGT), which is based out of New Jersey, was in sharp focus among investors back on Friday and ended the day with gains of as much as 8%.
Although the gains made by the stock are expected to bring it into focus among investors in a big day, it is also necessary to remember that there has been no news about the company in recent days. The rally in the stock largely remains a mystery at this point in time. However, it could be a good idea to take a look at the company’s financial results for the second fiscal quarter that was announced back on August 16.
Teligent announced that it managed to bring in revenues to the tune of as much as $10.4 million in the three months that ended on June 30, 2021. That proved to be lower than the $13.6 million that was generated by the company in the prior year period. The drop in revenues was primarily driven by drop in contract volume and due to the continued difficulties posed by the coronavirus pandemic. Additionally, product price had also experienced a degree of erosion due to higher competition.