Teligent Inc (NASDAQ: TLGT)
While Teligent had a rough day on Friday, falling $0.24 per share or 3.39% to close the day at $6.85 per share, the stock is likely to have an incredibly strong day in the market today. That’s because in the pre-market hours, the company announced receipt of its first FDA approval for the year 2017. Below, we’ll talk about the FDA approval, why it’s likely to lead to gains today, and what binary options traders should be watching for ahead.
TLGT Receives Its First FDA Approval
In an announcement made early this morning, Teligent announced that it has received its first FDA approval in the year 2017. The surrounds the company’s Abbreviated New Drug Application surrounding Triamcinolone Acetonide Ointment USP, 0.5%.
While this is indeed the company’s first approval in the year 2017, it’s not the first approval the company has seen on its internally-developed pipeline of topical generic pharmaceutical medicines. In fact, this marks the 22nd approval that the company has seen overall. In a statement, Jason Grenfell-Gardner, President and CEO at TLGT had the following to offer…
“We have received our first FDA approval in 2017 for Triamcinolone Acetonide Ointment USP, 0.5%. We received this approval in just over 18 months after our submission in September 2015… Teligent now has seventeen topical generic pharmaceutical products in the US portfolio, in addition to our four US injectable products. We expect to launch this product in the second quarter of 2017.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TLGT. In particular, we’ll be watching for news surrounding the company’s launch of this newly approved product as well as other products that are likely coming down the line. Nonetheless, we’ll keep a close eye on the story and continue to bring you the news as it breaks!
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