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Approval is great, except for the fact the company is looking to go it alone from a sales force perspective. Just another stupid rookie move. That would be devastating and incredibly disappointing and yet it shouldn't be a surprise that Nasrat is strongly considering that route.
That can be debated. R&D may not be material and is up to the company to best determine that.
If a product through various stages of R&D has promise, then yes, potential future sales are realistic. If there are large potential sales, it is in the company's best interest to divulge this to increase shareholder interest.
I don't think there is a requirement to divulge the testing going on in R&D stages. It could be questioned during a quarterly cc, but could be deflected with a political response. Lack of clarity to investors would lead to more uncertainty and a lower stock price with more volatility. I believe what we see is the free market taking care of the situation without any legal requirement.
How much market share is the huge Epic Oxy getting? Shouldn't that be a good gauge of what Elite can accomplish?
Goodness only knows what they can accomplish if they run with their own sales force.
Haha! Nice.
The board has gone to pot over the past few years, which coincides directly with the success of the company, or lack thereof.
How much has their current Oxy w/ Epic made? Probably $0 despite being on the market 18 months.
Does the blockbuster Trimipramine count?
Mikah side deals. Ratchetable options. No disclosure of Tmax issue. When is enough, enough?
No argument there, but who cares how much they fumble the initial wording? No investment firms will be calling in to these calls for many years, if ever. Only retail investors call in and corporations NEVER care about retail investors. Never. Why do you think we have no live Q&A?
Confidence as in "no one will stop us"? Elite was scraping for any news to be put forth to stop the stock price landslide.
Remember that all these other companies Nasrat does deals with are known compadres and not arms length deals. Nasrat is great at making appearance great, but lacking all substance. Sleight of hand.
To those new to the IR world, the person speaking before passing it along to Nasrat is a 3rd party. You have no idea who will be speaking to introduce the company/Elite. They do a sound check before the conference and validate names & mic's and that is about it. This person sounds no different than the CFO.
Well worth the read. Thanks for sharing.
There are always exceptions as we've seen. Elite is always the exception you don't want to have.
I completely agree. The drop over time has been a heavy trickle on some days, but a small piece of the pie. The saga continues...
Per the 10-Q, "SequestOx is our lead abuse-deterrent candidate...". So SEC release says one thing and Nasrat says it is small potatoes. Hmmm...
I love that line that keeps getting repeated over and over. Perhaps he is worth his weight in fool's gold. Just maybe...
Actually he said do the math. There is no revenue to do the math. The revenue he does give is for the total market, which is an absolute untruth and unrealistic to capture. Only the ignorant will believe this.
You clearly missed that this is not a labeling issue. The company is years away from getting SequestOx to market, if ever.
Thanks for clarifying that. The sound quality kept going in & out on my end. I thought I heard they couldn't sell & distribute before the warning letter was cleared. Getting approvals from the FDA is a different story.
It is a mess and I agree with much of your comments. I am staying put and may continue to add here and there.
I think the company has serious potential, but still not sold that Nasrat can get us there. Lots of hype, no action. Sort of like a year of hot date nights with no fireworks...ever.
I thought today's call was well managed, but the lack of ability to further clarify and take follow up questions drives me nuts.
One aspect I did not like was that Elite is strongly considering going alone for selling. That is the biggest mistake that could be made. Nothing worse than having a product and then not being able to sell it right. Very disappointed here if they do that. It shows his incompetency as I highly doubt he said that for leverage in negotiations.
Funny, where has snup been these last few weeks? I think he is standing his ground watching from the sidelines.
Realistically, it is long-time holders selling shares. Notice how quiet the board has gotten since the SequestOx debacle. That means interest has waned, hope is lost replaced by uncertainty and holders sell.
I have thought the same. The lack thereof can be a vote of no confidence.
I missed that. Obviously not there now and not near that level of volume.
There is no ongoing concern so liquidity isn't a huge issue. It all comes down to the potential and how quickly the FDA moves. It is interesting to see the diversification away from opiates with SunGen in case the plan fails there.
I can see some positive movement by next July, but there is a significant amount of risk & volatility until then. I expect no change in company news for at least the next 6-8 months. More submissions, but no FDA responses.
I don't think it will. Sales suck, as usual, but nothing new. There were no expected sales drivers to make a big change this quarter. The stock price actually held last quarter until SequestOx news struck in July. I think today is a non-event as there won't be much to share.
As I responded previously:
"What makes you think a 3rd attempt will lead to a faster Tmax? I think the FDA chose the most viable of 3 pathways, which now leaves Elite in a bind."
Would love to hear some facts backing up any sort of realistic progression.
Haha!!!
What makes you think a 3rd attempt will lead to a faster Tmax? I think the FDA chose the most viable of 3 pathways, which now leaves Elite in a bind.
The best, but not likely scenario, is SequestOx being approved in current state followed by a better formulation down the road. I personally do not think this scenario is even close to reality though.
The answer is always 6-12 months away. It is the Everlasting Carrot.
Rudy! Rudy! Rudy!
He did say 6-12 months. That could be next July/August, but we also know Nasrat's timelines are not realistic.
He probably hasn't heard anything further from the FDA at this point. I doubt any follow up meeting has been scheduled. I would hope by year end.
He could just say, we will know more when we meet with them in X months.
I was actually pleasantly surprised there. Tack on the other 1 million subsequent event as well, but even then we burned through more cash than selling shares for a change.
I think we have one more quarter of the same before significant share sales, assuming no FDA approval this quarter either.
When has Nasrat ever brought his game? Lol
It will impact revenues as much as the Epic Oxy has - not at all. Epic's Oxy was to bring in millions. Funny that there is no mention of it since it's launch about 18 months ago.
There are only so many ways one can claim failure.
Another sweet day for the record books.
Except the biggest owner is getting cash through these side deals. It is the only way he is making his millions since he knows the stock price will have no floor if he sells.