1426 ET - Teligent received court approval to immediately receive $6M in fresh financing from its lenders to help it get through bankruptcy. The publicly traded drug maker sought protection from creditors Wednesday after the Food and Drug Administration flagged problems at the company's plant in Buena, N.J., leading to a recall and production halt. The pandemic also reduced demand for Teligent's skin products as elective visits to doctors' offices slowed. It is scheduled to return to the U.S. Bankruptcy Court in Wilmington, Del., next month for final approval of financing that includes another $6M in new money. (becky.yerak@wsj.com; @beckyyerak)
Teligent Gets Immediate Access to $6M in Fresh Cash for Bankruptcy -- Market Talk
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