Here's Why Teligent Stock Was Cut Nearly in Half Today
Shares of specialty generic pharmaceutical manufacturer Teligent (NASDAQ: TLGT) dropped as much as 46% today after investors digested the company's third-quarter 2017 results. Operations appeared to have slowed after a strong first half of the year. That forced management to lower its full-year 2017 financial guidance for revenue and gross margin.
Compared to the year-ago period, revenue slipped 15% and gross margin deteriorated significantly following pricing pressures for two of Teligent's leading products. Increased competition was mostly to blame. While that's completely expected for the company's business model, investors are worrying the the launch of new products isn't closing the gap quickly enough -- a fair criticism.
As of 1:06 p.m. EST, the stock had settled to a 40.9% loss.
Source: Fool.com
