Teligent, Inc. (NASDAQ:TLGT) Q2 2020 Earnings Conference Call - Final Transcript
Aug 19, 2020 • 08:00 am ET
Ladies and gentlemen, thank you for standing by, and welcome to the Teligent, Inc. Second Quarter 2020 Results Conference Call. [Operator Instructions] Please be advised that today's conference may be recorded.
[Operator Instructions] Except for historical facts, the statements in this presentation, as well as oral statements or other written statements made or to be made by Teligent, Inc. are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. For example, without limitation, statements about the Company's anticipated growth and future operations, the current or expected market size for its products, the success of current or future product offerings and the research and development efforts and the Company's ability to file for and obtain U.S. Food and Drug Administration approvals for future products are forward-looking statements.
Forward-looking statements are merely the Company's current predictions of future events. The statements are inherently uncertain, and actual results could differ materially from the statements made herein. There is no assurance that the Company will achieve the sales levels that will make its operations profitable or that FDA filings and approvals will be completed and obtained as anticipated. For a description of additional risks and uncertainties, please refer to the Company's filings with the Securities and Exchange Commission, including its latest annual report on Form 10-K and its latest quarterly report on Form 10-Q. The Company assumes no obligation to update its forward-looking statements to reflect new information and developments.
I would now like to hand the conference over to your speaker today, Mr. Tim Sawyer, President and CEO. Thank you. Please go ahead, sir.
Thank you, Daniel. Good morning, everybody. I'm Tim Sawyer, President and CEO of Teligent, and I'm joined this morning by our Chief Financial Officer, Damian Finio.
First and most importantly, I'm happy to report that Teligent employees around the world and particularly those in Buena, New Jersey, are still safe and sound. Although, we've had a handful of employees test positive for COVID-19, they were not exposed to the virus on company premises. And because of safety procedures, we put in place at the onset of the pandemic, none of our facilities were impacted nor their colleagues infected. Each of these employees have been thankfully managing their symptoms at home. We continue to remain open at all Company locations and will be as long as permitted by local authorities and conditions remain safe for our employees to continue manufacturing pharmaceutical products for the patients that need them. All non-production, quality or R&D employees continue to work from home in accordance with state and local guidelines.
As a consequence of COVID-19, dermatology visits are still down versus pre-pandemic levels. But as states and municipalities continue to reopen, we began to see an uptick in second quarter patient demand. Current estimates show the market has returned to approximately 80% of pre-pandemic levels at least for now. We remain cautiously optimistic, as we have all learned that this situation can change very rapidly.