Teligent, Inc. filed a notice for the selection of Successful Bidder in the US Bankruptcy Court for the sale of certain assets on January 14, 2022. As a result of the auction conducted on January 13, 2022 and January 14, 2022, PAI Holdings, LLC has been selected as the successful bidder for the sale of debtor's certain assets. The debtor's assets include Debtors' New Drug Applications and Abbreviated New Drug Applications (the U.S. Marketing Authorizations).

Nivagen Pharmaceuticals, Inc. is designated as the backup bidder.