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I think it was the forward looking comment that triggered the jump - looking forward to approvals of more recent filings in 2018. These are what will help drive it north. Solid sales will drive it towards receiving a true fair valuation.
There is zero news to drive the PPS north for now....
“A bird in the hand is worth two in the bush.” It all depends what sort of investor you are and risk you take on. For some traders, in your example, that $40K may be perfect compared to a fictitious stock price of $0.55, that may never be realized. Ever.
Now that we do know approvals are no longer held up, hopefully Perc & Norco will be next approvals within the next few months.
Valent used to manufacture this too, but looks like it was pulled from DEA/FDA. It is considered a controlled substance. I’d have to dig deeper, but this is a smaller hit that Trimipramine. LOL
This is probably the “undisclosed generic”. Wow.
Looks like we previously mfg’d this. Total market is $3 million.
https://globenewswire.com/news-release/2012/11/15/505442/10012673/en/Elite-Pharmaceuticals-Announces-First-Shipment-of-Generic-Phendimetrazine-Tablet-Product.html
The company will dilute until it can get a decent rev stream. After that reverse split will be in the works. It will be purely for exchange purposes and get us off the OTC.
Disregarding that commentary when it came from the CEO in a spirit of open communication is complete and utter ignorance to reality.
You do realize the CEO mentioned it in prior calls. It is inevitable at some point.
Yes, precisely...until real revenues start flowing and we have insights into the rev/profit split & mfg markup.
I think it will only be a trading opportunity, not a significantly higher new base.
Lots can change, but won’t be a permanent spike. May be a trading bump on which to trade. Too much has to happen with too big of float for the price to stay permanently high.
Never a forgone conclusion, especially with Elite, but more likely to get approval than not at this point.
I think you are mistaken. The company has failed miserably at executing on communicated timelines and this destroys the credibility of management. However, this company isn’t big enough to have sell-side coverage and instead caters to a fluid and uneducated OTC base for the most part.
The company is presently re-building credibility, little by little. Approvals are evident or the FDA wouldn’t have moved forward with pre-approval inspections.
The real questions are how will pricing compare to non-ADT, will the premium demanded equate to what the market is willing to pay (as of today the market wants cheap regardless of ADT), will ELTP parter or go alone and whether any of this will amount to real sales.
Signs point that the pendulum is swinging towards yes, despite poor management performance; however, there are some critical decisions to be made in near-term that can swing the pendulum back the other direction.
Also, will be interesting to see what first Sungen product will be and when that ANDA application will take place. Another bonus.
I think it is a forgone conclusion at this point that approval will be forthcoming in time. The company is still a show-me stock in proving that this tech can actually bring in solid revenues. That is a much longer story to play out.
You are right that it is much higher risk to go it alone. Far more companies have failed this route due to the greed of “if it pays off”. It rarely ever does for small companies, but there are rare exceptions. Safer bet would be to do limited duration partnership to build company and financial situation and then go alone down road on same product or future pipeline.
ANDA approval is imminent. I am more interested in whether the company will shoot itself in the foot by going alone. Many small companies try this and doom themselves.
For some reason I was misremembering in thinking Nasrat said on Q3 call that the Oxy & Hydro Apap inspections were going to be done. You are spot on that they have already been done and that the undisclosed generic pre-approval inspection is different. Thanks for mentioning this.
However, they are still responding to questions from FDA for Oxy, Hydro & undisclosed generic on top of first Sungen submission. Lots to still tackle before first approval, but baby steps are being made in the right direction.
PR cost is peanuts, just like an 8-K filing.
Haha! You are probably relying on the crap OTC short report. Highly reliable! Lol
Your short assumption is faulty. Those are company sales through LPC being recorded as short sales. Those aren’t people holding short short positions.
Analysts are on both sell and buy side. Lol
I do work closely with sell side too and they’d never recommend an OTC stock, but that doesn’t matter since they don’t do the actual buying plus sell side is dying due to MIFID II regulation.
Yes, you are correct if all market forces applied to the company. Not the case for the majority OTC stocks. Big funds do not even look at OTC stocks. How would I know? I work with Wall Street analysts and firms on the buy side. No respectable institution would touch this due to the exchange and risk. However, individual investors manage their own risk and have zero fiduciary duty (except perhaps to one’s spouse).
Who cares how the market reacted at the Warning letter. The Warning letter resolution is simply paving the way. That is unless you are trading on volatility and not holding LT...
I never implied it did. Perhaps another poster did, but ceasing all operations, regardless of how small today’s puny sales are, was not mentioned by me.
No, you completely misunderstood my comments. The Warning letter pertains to products/protocol/controls undergoing FDA review.
Lol. I hope you are joking.
It did, but this is a tiny company with little resources and amazing technology. Some bad fumbles have taken place, yet they are still slowly, but surely moving the ball downfield.
I completely agree to the continual communication fumbles; however the lift of the warning letter was huge. Per the last cc they are working on responses to the FDA for Perc, Narco, Sungen product, etc. This is solid progress being made. The communication situation will not clear up, but the ball is moving in the right direction. I think we may get Perc ANDA approved prior to the end of March. Exciting times ahead, but not void of frustration from management bumbling.
Listen to the last conference call. The warning letter is not hold up the ANDAs, but other reasons did.
We’ll hear more on progress of SO at the next call. You know very well that the company now has a multi-fold sales strategy. Branded category only being one bucket. Generic & Sungen being other buckets, all of which will have ADT functionality.
I have never sold and have only added as opportunities arose; however, it was due to faith in the product & tech, not the poor mismanagement and multiple screw ups and errors of omission.
Lift in Warning letter came 6 months faster than I had expected. I think Sungen application will take place in Jan. Last app was a bit delayed. Just my expectations in that CEO almost always underdelivers in what he can control.
Interesting decisions ahead near term with Perc & Narco.
There are 3 CRLs- SequestOx, Percocet & Norco. Last one was hidden in the 10-Q.
Beyond nonsense. Setting himself up for a libel suit. Lol
Those are some rare exceptions on top of big assumptions. I call BS as there is zero proof Nasrat is selling personal shares. Dilution is happing for certain, but don’t be slinging dirt.
The company is diluting. Nasrat cannot personally sell without filing a Form-4 within a few business days.
Thanks for the heads up. Did the 8-K hit after close? I missed it this morning. Great news.
Pure garbage. Website shows as not issues.
Or certain companies had their crap in order and got in line well before Elite.