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Morning Cargo! Yes hopefully .13+ today. News would be awesome.
So does the 3 million+ volume suggest that legitimate trading is going on vs. MM games?
No kidding. Quite the surge going on randomly.
Solid post Couch, many interesting links/reads. It would appear that Elite is well placed to profit from the coming legislation for prescription drug abuse! Hopefully soon they can get some studies going to prove to the FDA that their tech works!
GLTA Longs
Thats awesome news steges. No telling how much value that would add to Isradipine if Parkinsons became an FDA-labelled indication for use. Also, even if it doesn't officially, docs sometimes prescribe it off label if they believe it will genuinely benefit the patient and won't interfere with any co-morbidities or other medications.
Wish I had more spare change to invest! Paying for master's degree is about to start slowing my accumulation down even further. =/
GLTA Longs
Sounds good Cargo!
Hopefully we'll see some news soon to also ran us up to higher teens and beyond!
GLTA Longs
Snagged 4250 more shares at .1127 yesterday. Not much compared to some on here but adding blocks nonetheless!
GLTA
Just got back into the country from a trip and am seeing a story on CNN at the Newark airport about the FDA providing an incentive to Purdue I think, if they run an additional study to determine safety and efficacy of OxyContin to children aged 6-16. Apparently it is prescribed off label to children and young adults with moderate to severe pain already and the public is worried about abuse potential. This directly evidences the need for abuse proof painkillers which positions Elite quite well, in my opinion. Posting on my phone or I'd get the link to the story too, might be on CNN.com.
That's okay. When everyone panics and drops the stock price 3 or 4 pennies on Monday just snatch up some super cheap shares and hold your ground. We all know what's coming.
http://www.elitepharma.com/employment_opportunities.asp
I thought I saw 3 openings before... Did they fill one of the positions?
"Why would the commission tell them they could not do the deal as structured."
Great question. Maybe because they didn't?
Yep, definitely exciting. We have 4 products that could literally launch any day now, plus the situation with the Lodranes.
"Extended release opioids including ELI-154"
"Abuse resistant opioid products including ELI-216"
Multiple products in both classes besides the obvious 154 and 216 that we already know of?? Tang, is that the reason its posted as ANDA and NDA, you think? That would be unreal.
And then the undisclosed ANDA that is pending FDA approval that is completely owned by Elite.. Wasn't aware of that one either.
I can't wait for the next few months to play out. Interested to hear your thoughts on this Tang. As well as anyone else..
Its a shame that the SEC "pulled the plug" on our biggest funding agreement to date.
...LOL LOL.
Is it possible that the private financing referred to in the filing may in fact be JT's loan? Or does his not count as "private"? Just spitballing here. I'm hoping it is indeed a sign of a bigger funding agreement with a partner.
Perhaps you are on the wrong message board? No, we don't have a link stating that Watson visited "lite". I'm not sure who "lite" is, but this is Elite Pharmaceuticals.
Patents that have already been awarded to Elite per their updated website (minus ones assigned to Celgene):
Patent #5,871,776 = CONTROLLED-RELEASE NIFEDIPINE (awarded 1999)
Patent #5,902,632 = METHOD OF PREPARATION OF CONTROLLED RELEASE NIFEDIPINE FORMULATIONS (awarded 1999)
Patent #6,620,439 = CHRONO DELIVERY FORMULATIONS AND METHOD OF USE THEREOF (awarded 2003)
Patent #6,926,909 = CHRONO DELIVERY FORMULATIONS AND METHOD OF USE THEREOF (awarded 2005)
Patent #6,984,402 = CHRONO DELIVERY FORMULATIONS AND METHOD OF TREATING ATRIAL FIBRILLATION (awarded 2006)
Patent #8,182,836 = ABUSE-RESISTANT ORAL DOSAGE FORMS AND METHOD OF USE THEREOF (awarded 2012)
What excites me about the website upgrade is the Lodrane 24h stuff. "Scale up" w/ ECR? Is this just what we've already known or is significant progress being made? Elite was almost profitable on these products alone, not to mention the products they are selling now. I'm honestly thrilled about Elite at this point, ready for the CC. Only thing is, I'll be out of the country when it occurs so please post on here about it everyone!
For all our sakes and pocketbooks, I hope you're right!
Cargo,
Very interesting to see your take on the latest SEC filing from Elite. Are you familiar with the company symboled HAIR that you previously mentioned? Are you able to give any type of comparison as to potential between ELTP and HAIR in relation to a private offering that may raise the stock price? Just wondering if this other company had anything comparable to the type of technology that Elite has come up with, and if that company can get X for a stock price offering, what can Elite get? Of course its all complete and utter speculation and I realize this may be an outlandish question but I'm just curious to see what your opinion is on the matter. Thanks in advance.
*I am also in the school of thought that JT would not refuse a deal with Socius unless he had a better backup plan in place. Logically, it just doesn't make any sense otherwise. Not to mention footing a $500,000 loan of his own money to Elite for continuing operations and expansions. As the CEO, he obviously has a clear picture of Elite's condition as a company and must think that injecting his own capital into the company will produce positive results.
10/409,992 Abuse-resistant oral dosage forms and method of use thereof
Transaction History
Date Transaction Description
06-15-2012 Email Notification
06-08-2012 Mail-Petition to Revive Application - Granted
06-07-2012 Petition to Revive Application - Granted
Elite patent app 12/640,344 ABUSE-RESISTANT ORAL DOSAGE FORMS AND METHOD OF USE THEREOF update
Transaction History
Date Transaction Description
06-06-2012 Preliminary Amendment
So tempted to snag some more at these levels but I'm on the fence. Never know how the CC/financials will go, might be the best in years! Then again, buy the rumor/sell the news has seemed to dominate every piece of news here recently. What are you guys planning on doing before the CC?
Anyone post about this yet? ELTP patent app 12/640,344 ABUSE-RESISTANT ORAL DOSAGE FORMS AND METHOD OF USE THEREOF starting to see some action behind the scenes.. Anyone able to enlighten me how this one differs from the other ones approved and/or pending?
Image File Wrapper:
06-06-2012 A.PE Preliminary Amendment PROSECUTION 1
06-06-2012 CLM Claims PROSECUTION 2
06-06-2012 REM Applicant Arguments/Remarks Made in an Amendment PROSECUTION 1
06-06-2012 N417 EFS Acknowledgment Receipt PROSECUTION 2
06-06-2012 TRAN.LET Transmittal Letter PROSECUTION 2
04-22-2010 NTC.PUB Notice of Publication PROSECUTION 1
01-08-2010 APP.FILE.REC Filing Receipt PROSECUTION 3
12-17-2009 TRNA Transmittal of New Application PROSECUTION 2
Transaction History:
05-17-2011 Case Docketed to Examiner in GAU
04-22-2010 PG-Pub Issue Notification
http://portal.uspto.gov/external/portal/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3hff1NDc1NLYwN3SzcDA08PwyD_YF8zINcYKB-JW97AiCLdBgR0h4Nci992vPIGEHkDHMDRQN_PIz83VT9SP8ocpylGZvqROanpicmV-gW5oREGmQEZgY6KigBnIW_S/dl3/d3/L0lJSklna21DU1EhIS9JRGpBQU15QUJFUkNKRXFnLzRGR2dzbzBWdnphOUlBOW9JQSEhLzdfTU81MTc1OTMwRzlGMDBJSDFST1NNNjMwMjYvT0c4UG4zODAwMDU2L3NhLmdldEJpYg!!/
Another update on Elite's 10/409,992 patent application
06-08-2012 Mail-Petition to Revive Application - Granted
06-07-2012 Petition to Revive Application - Granted
05-09-2012 Petition Entered
07-15-2009 Mail Abandonment for Failure to Respond to Office Action
07-14-2009 Aband. for Failure to Respond to O. A.
Exciting times. Hopefully we are on the brink of an explosion in pps. If nothing else, I believe important groundwork is being put into place for Elite to experience long term prosperity. Will be trying to add more in chunks this month.
GLTA Longs
Bought what I could for now, 3250 shares @ .1499. Keeping the faith.
Great post Faisal. Yes i completely agree. This is only my 2nd or 3rd penny stock but I'm hoping it will be one of the last I ever need to invest in. I had been down most of the year (2011) until recently.. bought a good chunk of my shares at .20+ and then averaged back down as it dropped in 2011. Sitting at .145ish avg right now with about 106k shares. I was down around 50-60% at times last year but they say you don't lose until you sell so I hung with it. I am eagerly anticipating how the public will react to an official PR about the new patent. We as message board readers know about it but I can't believe that the average Joe follows the U.S Patent Office on a daily basis. I plan on holding my shares to $1 and beyond, would be happy to sell around $4-5. Also buying on significant dips if any. Good luck to all, I think we picked a good one.
Anyone familiar with the patent approval process? What is the absolute last step before the patent is a done deal and officially issued?
Agreed, that seems to be the sentiment here. I am thinking along the same lines. Wish I didn't have to move beginning of next month! Going to spare as much cash as I can to continue to accumulate myself. GLTA.
Great news. Interested to see what will happen with the pps once an official statement by the company is released.
As far as drugs..
Off the top of my head, I know my hospital has had several shortages in recent months including IV Lasix/Furosemide, IV Pepcid/Famotidine, among others. Our hospital automatically substitutes generics for patients home medication lists unless specifically directed to use name brands.. They are definitely the preferred route, obviously for the cost savings. Hopefully as Elite pushes out more generic versions of branded drugs, they can capture some good market share %'s.
I have gotten a handful of friends to invest in Elite, though not to the extent that I myself am invested. Though I'm sure I don't have as much on the line as others here, I'm also only 24 years old and don't have as much capital sitting around as others might. All the same, a nice rise in pps will benefit us all, low and high share counts alike. GLTA.
P.S. Was looking through my work emails and found some about shortages..
"Beginning tomorrow, 2/7/12, all orders for IV ondansetron (Zofran), are to be switched to PO Ondansetron (same dose). I know the bioavailability shows to be up to 70%, but I have never seen anyone requiring more than 8 mg PO per dose (and giving more than this will only put the patient at risk for developing headaches). Please enter on the label that is a substitution due to a nationwide shortage. You will not need to notify the prescriber on this interchange.
The only exceptions to this rule are for patients in the OR or PACU, patients who are on strict NPO, and those who are having acute vomiting episodes (the nurse will need to verify this). If you aren’t sure if the patient is on strict NPO or is having acute vomiting, please check with the nurse."
------------------------------------------------------------------------------------
"Beginning tomorrow at 0600, 2/17/12, all orders for IV metoclopramide (Reglan), are to be switched to PO metoclopramide (same dose). Please enter on the label that is a substitution due to a nationwide shortage. You will not need to notify the prescriber on this interchange.
The only exceptions to this rule are for patients in the OR or PACU, patients who are on strict NPO, and those who are having acute vomiting episodes (the nurse will need to verify this). If you aren’t sure if the patient is on strict NPO or is having acute vomiting, please check with the nurse.
We are no longer substituting the PO for IV Zofran (for now)
I will be sending a note to all the physicians and nursing directors."
Good post Lasers. It is indeed reassuring to see multiple iHub posters buying additional shares. I plan on buying more this week as well. Barely into the 6 figure share count but trying to add $500 worth here and there when I can. Best of luck to us all.
On a side note, I'm an RN and was pulling medications the other day when I noticed a Purdue tag on the back of a med (can't remember which one). Hopefully with any luck, I'll see an Elite tag in the future!
Makes you wonder what is cooking behind the scenes!
On another note, surely Naltrexone and the other drug involved in the pre-approval inspections should be released soon..?
Carter J. Ward, CPA, CSCP
Chief Financial Officer
Carter Ward joined Elite in July of 2009 as Chief Financial Officer. Mr. Ward is a certified public accountant, graduated summa cum laude from Long Island University, Brooklyn, NY. For most of the past ten years, Mr. Ward’s experience has been in the generic pharmaceutical industry, most recently filling multiple finance and supply chain leadership roles with Actavis Group and its U.S. subsidiary, Amide Pharmaceuticals. Earlier in his career, he was the Chief Financial Officer for Positive Healthcare/Ceejay Healthcare, a U.S.-Indian joint venture engaged in the manufacture and distribution of generic pharmaceuticals and nutraceuticals in India. Mr. Ward began his career in public accounting with KPMG.
Source - http://www.elitepharma.com/management.asp
Thought this was interesting as I was looking over Elite's website again. Don't know if its been mentioned on here before. Little ties to all these companies.