After trading relatively flat since late September, shares of Teligent (NASDAQ:TLGT) stock are soaring on Monday morning.
Right now, there is no company-specific news to explain why TLGT stock is rising. However, more than 67 million shares have already changed hands Monday morning.
That said, here is what potential investors need to know about Teligent and TLGT stock:
- Teligent develops, manufactures and markets pharmaceutical products.
- The firm states it has around 250 employees, with locations in areas such as New Jersey, Toronto and Estonia.
- Teligent also boasts an impressive line of products, including injections, creams, lotions and more.
- In fact, according to the company website, Teligent has “16 Abbreviated New Drug Applications (ANDAs) on file at the FDA, representing a total addressable market of approximately $1.4 billion.”
- One interesting note from the company is that it has tried to have three separate special stockholder meetings since October.
- However, all three have been “convened and adjourned without any business being conducted due to the fact that a quorum was not achieved on the proposals to be approved.”
- In turn, Teligent will meet again on Wednesday, Dec. 16 for a vote regarding Teligent’s compliance issues with the Nasdaq.
Overall, I would say that the reason for the boost in TLGT stock is due to this upcoming meeting. Thus, Teligent stock will be something to watch the rest of the week.
TLGT stock was up nearly 40% as of Monday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.