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Organization and Business
3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of the Business and Liquidity
Nature of the Business and Liquidity

Nature of the Business

Teligent, Inc. and its subsidiaries (collectively the “Company”), is a specialty generic pharmaceutical company. Our mission is to become a leader in the specialty generic pharmaceutical market in alternate dosage forms. Under our own label, we currently market and sell generic topical and generic and branded generic injectable pharmaceutical products in the United States and Canada.  In the United States, we currently market 26 generic topical pharmaceutical products and four branded generic injectable pharmaceutical products. In Canada, we sell over 30 generic and branded generic injectable products and medical devices. Generic pharmaceutical products are bioequivalent to their brand name counterparts. We also provide contract manufacturing services to the pharmaceutical, over-the-counter ("OTC"), and cosmetic markets. We operate our business under one segment. Our common stock is traded on the NASDAQ Global Select Market under the trading symbol “TLGT.”  Our principal executive office, laboratories and manufacturing facilities are located at 105 Lincoln Avenue, Buena, New Jersey. We have additional offices located in Iselin, New Jersey, Toronto, Canada, and Tallinn, Estonia.

Liquidity

Our liquidity needs have typically arisen from the funding of our manufacturing facility, research and development programs and the launch of new products. In the past, we have met these cash requirements through cash inflows from operations, working capital management, and proceeds from our "2019 Notes." For the three months ended March 31, 2018, we had a net loss of $4.8 million and cash outflows of $13.6 million. The reduction of cash from year end of $13.6 million was largely due to the Company's continued investment in the Company's new manufacturing facility, along with additional purchases of capital expenditures of $4.1 million and the decrease in accounts payable and accrued expenses of $11.8 million, largely related to the timing of significant payments directly related to the Company's manufacturing expansion project. In order to continue normal business operations and execution of the Company’s growth strategy, the Company will need to exercise its ability to significantly defer or reduce planned discretionary investments in research and development and capital projects or seek other financing alternatives. Other financing alternatives may include raising additional capital through the sale of its equity, a strategic alliance with a third party or securing debt. If additional acquisition and growth opportunities arise, external financing will be required. On May 4, 2018, the Company filed Form S-3 under the Securities Act of 1933. The S-3 registration allows the Company to issue, from time to time and at prices to be determined at or prior to the offering, up to $50 million of any combination of the securities described in the prospectus, either individually or in units should the need to raise cash arise. However, there can be no assurance that a strategic alliance, future equity or debt financing will be available on terms acceptable to the Company, or at all. The Board and Management intend to exercise all options available in order to enable the Company to support its current operations and growth strategy beyond May 2019. Additional information is provided under Note 12.

Out of Period Adjustments

In the first quarter of 2018, the Company recorded net adjustments of $0.2 million related to prior periods. The net impact of the adjustments on any prior annual or interim periods financial statements was not significant. The individual financial statement items that were impacted were comprised of a $0.8 million reduction of the Company’s cost of revenues and an increase in the sales return reserve of $0.6 million.