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I hope you are right. My interpretation is the MM moving up the bid to get a profit on their inventory. Either way it is only $190k traded so no real interest right now.
No buyers again. Without some interest we won't move higher.
They certainly are busy.
My opinion only from past experience with government auditors. I read it to mean they were given some warning about the process before, they made some changes and the follow up audit found them inadequate. I didn't read into it that it was anything more than adding some steps in their process manual along with their execution. This happened to me many times but in the banking industry.
To be honest it didn't seem material to me and was wondering why they even reported it. The CEO is terrible at PR so was assuming he just goofed again.
I am long but objective unlike several who live on this board.
Np. Lived over there for a while so got good at it :)
It is about $3usd. 20 / 6.68 fx
While the added income is great it probably won't move the needle much given the float. It will take some news to move.
I personally believe and this is my opinion that a well orchestrated PR campaign would do more for the pps than the generics. Frankly selling the future of the company will bring in more buyers. Today buyers only drove $100k in $400k in total trades.
Interesting. Then the FDA audit wasn't really random I would think.
Thank you Laser. Is this something they haven't been manufacturing in the past so it isn't part of existing revenues?
In context there really isn't much trading. Today's trade was about $400,000 in total value. Of which 50% was picked up by MM's due to the buyer/seller imbalance. If they buy more outside of that it isn't much in true value.
Interesting. Wonder if that is from the extra White House funding? I think there is a pending request in congress for an additional billion.
You can investopedia market makers if you want to see how it works.
There needs to be buyers then. Today was mostly sellers. My biggest wish with this company would be to master PR. That would add a ton to the pps. Not sure what Diane does all day.
Got me but FDA is not my expertise. It could be a political choice to make the FDA happy too. The public disclosures as well as PR often baffles me with this investment. But in any case I am looking for a strong move higher in the next week.
The only odd part here and I think Laser was spot on earlier is why put it in a SEC filing. If I filed all of the central banks findings in SEC filings in my prior role it would read like a book. Not familiar with the FDA but it just didn't seem material.
This doesn't seem to be a material event. Both are minor accounting changes and one decreases liabilities. But on a cash base there will be no change.
Gotcha. Much appreciated. I used to have the same problem with bank regulators. Always a treat!
Laser, is it accurate to interpret this as adding steps in a SOP document would alleviate their concerns? I have had this happen to me with government auditors but not the FDA. Wasn't sure if it was the same here.
My experience with government auditors is they had to find things wrong to prove their value but it was never material.
Buyers are gone. Profit taking? Long weekend ahead.
Robert Peck has a $18 price target. If he is wrong on this he is near 50/50 on his calls. There is a good reason he bashes on CNBC every time it gets close to $20.
If a good offer comes they will take it. Jack being in 2 jobs is not going well and the board knows it.
He has been nothing but negative on twtr for a long time. If they go up it would hurt his reputation.
Old news
Any thoughts on buyout price? I do compare twtr to LinkedIn in market cap. That was a $26b price. The question then is twtr worth more or less?
The opiate epidemic.
Major topic on CNBC today.
Strangely this was inaccurate on the timing and assumed cause/effect. The ANDA was a while back (8/10/2016) vs today's announcement.
Nonetheless, it is great to be on the radar of TheStreet.
Sorry, I did understand that. Was just still working out the value to the network.
So let's see if I can work through some of this network.
Hakim is co-owner of Mikah. Mikah owns generic rights which are manufactured by Epic and packaged by Activis. Hakim was an executive at Activis. Mikah is the owner of 20% of ELTP. Epic is a partner to Sequest (not sure how Puracap works into this yet). Hakim is chmn and CEO of ELTP and via Mikah effectively the largest shareholder.
So is it fair to say that a single person influences the revenues of 4 companies which are strongly tied together?
Understood and thank you. Is Mikah using ELTP to manufacture its generics?
Fair and again appreciate your insight. What is unclear to me is the mix of the companies. From what I read Mikah doesn't have any manufacturing capabilities and is basically a holding company. If that is accurate then is ELTP the manufacturer for Mikah? Then there is the larger question of why Mikah buys it vs ELTP buys it. It adds complexity to the role of Hakim and the fact that Mikah owns 20% of ELTP along with other things.
Interesting and thank you. Any thoughts on why Mikah would buy it instead of Elite? The roles of the two companies is confusing.
Any thoughts on what Mikah bought from Teva? I am guessing some generics but the article was vague. It makes you wonder what are all of the holdings of Mikah Pharma. The Bloomberg snapshot showed no key executives. A very tangled web here.
Assuming you saw the same CNBC segment and completely agree with you. The only problem as I see it is legal liability. Any private company would be the target of a plethora (el guapo reference) of lawsuits and not be able to carry out their role as a result.
What I would propose as an alternative is a transparency doctrine which crystallizes decision steps and reasoning. This would to me identify the log jams and areas for increased investment to make the process more efficient.
Hard to say. There have been many things said in the CC's that were ill advised. But, a well planned communication strategy could easily overcome this. Without it the pps will most likely flatline or drop barring a positive surprise.
Here is an interesting read. Not exact to this situation but many similarities. We were always rated as executives on stakeholder satisfaction which included shareholders, customers and associates. We had to go through IR classes and media training before we were allowed to speak publicly. The cost of the training was well worth it.
Mylan was a timely example :). Not a fun seat to be in right now.
http://knowledge.wharton.upenn.edu/article/how-investor-relations-ir-firms-can-boost-the-market-prospects-of-small-companies/
Fair enough. We have a fundamental disagreement on the executive teams role. My expectation is that they would have 1 hour a month to update the owners of the company. It is an OTC company but they also have a market cap of $100mm that was $200mm so I expect more. The silence on their progress is a significant part of why there is no investor confidence (evidenced by $100k per day). There are many public company examples on how this works and its impact on market value of the company.
Appreciate your reply. I was looking to see if there was any reason that Elite would be barred or frowned upon for having regular updates. Daily as you mentioned is impractical and having managed Large sections of Fortune 100 companies there are good reasons to be strategic in your message.
That being said there is no business reason to wait for events to communicate. The best companies out there are regular communicators, especially during a crisis (market cap dropped 50%). In the absence of this there are usually only a few reasons why you don't. First being fear of reaction to the news and second the lack of ability to understand the value of PR. Arguably there are many others but these are the main ones.
Thank you. I am not an expert on the FDA but one further question as I don't understand the legal / reg structure of the pharma space.
Are there any regulatory and / or political reasons why ELTP would be reluctant or unwilling to provide regular progress reports?
Thank you again.
Given the same research is there a time element to it?
July = submission 1
Submission 2 = submission 1 + 3 months
Submission 3 = submission 2 + 3 months
As an example.
Thank you
I am not a member so can't read the full article. Is there a date with it? Didn't see one.