Blog Exposure - FDA Approved Teligent’s Halobetasol Propionate Ointment, 0.05%
LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free research report on Teligent, Inc. (NASDAQ: TLGT). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TLGT as the Company's latest news hit the wire. On March 21, 2018, the Company announced that the US Food and Drug Administration (FDA) has granted approval to the Company's abbreviated new drug application (ANDA) of Halobetasol Propionate Ointment, 0.05%. Based on recent IQVIA data from January 2018, the total addressable market for this product is approximately $30.8 million. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Teligent most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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It marks Teligent's second approval for 2018, and its twenty-first approval from its internally-developed pipeline of topical generic pharmaceutical medicines.
Teligent Expects to Launch Halobetasol Propionate Ointment, 0.05% in Q2 2018
Jason Grenfell-Gardner, President and Chief Executive Officer of Teligent, mentioned that this approval was received fifteen months from the filing date and shows Teligent's commitment to execution regarding its high-value pipeline. Jason added that the Company expects to launch this product in Q2 2018. Teligent now has twenty-six topical generic pharmaceutical products in the US portfolio, in addition to its four US injectable products.
Teligent's First FDA Approval of 2018
On February 14, 2018, the Company received approval of its ANDA from the FDA of Betamethasone Dipropionate Lotion USP (Augmented), 0.05%. Based on QuintilesIMS Health data from December 2017, the total addressable market for this product was approximately $19.9 million. This was Teligent's first approval for 2018.
Teligent Announced Fourth Quarter 2017 Results
On March 15, 2018, the Company announced its financial results for the fourth quarter ended December 31, 2017 (Q4 FY17).
Teligent's total revenues for Q4 FY17 reached $16.1 million, down by 10% over Q4 FY16, and a 25% increase over Q3 FY17. Total revenue was driven primarily by $10.2 million of sales generated by the Company's US generic topical and injectable pharmaceutical products, a decrease of 12% over Q4 FY16.
The Company reported a gross margin of 36% for Q4 FY17, reflecting a decrease from the 51% reported in Q4 FY16. During Q4 FY17, Teligent's operating loss was $4.9 million compared to operating income of $0.3 million in Q4 FY16. Operating loss included $5.9 million of research and development (R&D) costs in Q4 FY17 compared to $4.6 million in Q4 FY16.
As a result of the fluctuation in foreign exchange rates during Q4 FY17, Teligent recorded a non-cash gain in the amount of $1.1 million in the reported quarter, related to the foreign currency translation of its intercompany loans to three of our wholly-owned subsidiaries; and other balances held in currencies other than local currency, compared to a non-cash loss in the amount of $2.2 million in Q4 FY16.
About Halobetasol Propionate Ointment
Halobetasol Propionate Ointment is used for skin inflammation, skin itching, red skin, swollen skin, small blisters, rashes, and other conditions. The ointment contains Halobetasol Propionate as an active ingredient. Halobetasol Propionate Ointment works by blocking the production of inflammatory mediators. Burning, stinging, itching, dryness, or redness may occur when this ointment is first applied to the skin, but it disappears in a few days as the body adjusts to the medication.
About Teligent, Inc.
Founded in 1977 and headquartered in Buena, New Jersey, Teligent is a specialty generic pharmaceutical company that develops, manufactures, and markets pharmaceutical products for use by doctors and patients in the United States and Canada. The Company's strategy is focused on developing and selling pharmaceutical products in the Topical, Injectable, Complex, and Ophthalmic markets.
Stock Performance Snapshot
March 22, 2018 - At Thursday's closing bell, Teligent's stock climbed 9.97%, ending the trading session at $3.53.
Volume traded for the day: 1.86 million shares, which was above the 3-month average volume of 623.30 thousand shares.
Stock performance in the last month – up 16.50%
After yesterday's close, Teligent's market cap was at $155.78 million.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry.
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