Teligent stock up 12% after FDA approves generic steroid cream [MarketWatch]
Teligent, Inc. (TLGT)
Last teligent, inc. earnings: 11/4 04:15 pm
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Source: MarketWatch
Teligent stock up 12% after FDA approves generic steroid cream Shares of Teligent, Inc. TLGT, +1.84% shot up 12% in premarket trade Thursday after the company announced the U.S. Food and Drug Administration had approved the company's abbreviated new drug application for a generic 0.05% solution of clobetasol propionate ointment, a topical steroid used to treat skin irritation. The company said it plans to launch the product sometime this month and that the total addressable market for the product is approximately $70.5 million, according to data from November from IQVIA IQV, -1.50% Shares of Teligent have gained 23% in the year to date through Wednesday, while the S&P 500 SPX, -0.04% has gained 5.3%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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