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I'd buy that. The volume is so small it isn't worth another thought. Market opens soon enough.
Shares traded what appear to be in pre-market are between MMs. To my knowledge retail traders do not have access to any pre- or post trading for OTC stocks.
I saw the volume initially on Scottrade earlier this morning, but do not anymore. I ignored it since OTC doesn't have a pre-market session.
There are mixed analyses on whether this is the best use of cash for larger companies. At this point, it is far better for Elite to invest in itself namely it's product pipeline. This isn't anything we would need to worry about for several years. Let's get to Nasdaq first.
A share repurchase plan is how a company buys back outstanding shares.
Share purchase plan would need to be approved by Board & announced to shareholders in advance. This would be a stupid use of cash at this point.
I don't think he is desperate. I think he is smarter than that and will wait for the right price. We won't reach that ideal price quite yet.
Correct, but I don't think Nasrat will sell just yet. I think he will, but down the road after we hit Nasdaq. I don't think the offers are near where he knows we can get.
If this was on the Nasdaq you would see funds buying this left & right and achieve the spike you are referring to. Since we are on the OTC we primarily have retail investors that create an unreliable & unstable investor base, but I doubt (and I could very well be wrong) that we will have the momentum to reach and stay above $2. Not quite yet.
Why not highlight the last paragraph:
"Although there has been an uptick in the number of ADF bills introduced in the 2016 legislation session, the rate of adoption remains fairly low (only two counting West Virginia and Florida). In the current atmosphere, the mostly likely outcome for ADF bills at the state level is for them to be referred to a health or insurance committee, receive consideration during hearings, but not make it to a vote."
Unless the politicians actually act, the pressure on them is just a joke and fodder for media.
It is cooking this morning. Nice start to the day.
Very interesting. Nice insight.
Very valid point. Politicians are always late to the game are rately ever forward thinking. They typically react only when needed - in this case when there is significant pressure. On the flip side history tells us politicians can be bought and big pharma has deep pockets.
Must be why New Jersey rejected ADF coverage. There are mixed reviews and the fate of ELTP is literally in the hand of politicians and lobbyists.
You forgot to highlight this part: "One of the problems is that doctors are not widely prescribing these abuse-deterrent medications," said Rogers."
This becomes a legislative waiting game.
Sadly, I got a good laugh out of that story when it hit the wire. Complete unhedged bet that was a stupid maneuver.
I have seen FDA responses (approvals & rejections) announced at all hours of the day & night. I recall one being announced about 10pm by the company on the target date.
Always best to not assume. :) Embeda getting different labeling than us is probably not very realistic, but we are all eagerly awaiting FDA decision on approval and labeling. Hoping we get both within the next couple of weeks, but the FDA marches to the beat of their own drum.
Yes, correct - holding out for a buyout. Nasrat has stated in prior cc that he would sell if the price was right. In all reality, this is the most realistic way Nasrat can cash out of all of his significant share ownership.
Higher than today is for sure. Hopefully as good as we all hope to make the wait worth it.
If approval is granted w/ ADT labeling that we seek it will be interesting to see how long Elite stays independent. My big question is whether Nasrat will hold out for as long as I'd like him too.
Great response. I have a background in finance & strategy and think that McKinsey's research is very high level and cannot entirely be applied here for several reasons. To keep this short let me ask you this question. Elite's true end customer is a patient (could be argued it is a physician, but irrelevant) requiring pain medication. Today that patient is receiving non-ADF pain prescriptions and their needs are already being met. It is illogical to expect a spike in pain needs out of the blue as soon as Elite gets approval (I assume they will). If the end consumer doesn't change, the market doesn't change, where then will Elite be creating revenues if it is not 100% through cannibalization of current non-ADFs that are servicing today's pain needs? Interested in your thoughts. Good dialogue.
Excellent dialogue & thoughts. Thanks for sharing.
Completely illogical. There is a defined patient for our product. You aren't pulling in patients for upset stomach or immunology. The market base is already set and cannibalization from reg oxy is only way SequestOx will bring in revenue. Otherwise, you are saying patients are avoiding IR oxy today because it isn't ADF. Ludicrous.
New Jersey just showed ADF the door (for now). In the end I think they will join the others, but I don't think it's a bad thing for some states to sit out a few rounds, gather data, and analyze if ADF really does cause prevention and provide the benefits & ROI to the states that are being promoted. There is nothing wrong with not following blindly with mob mentality.
Haha! Completely wrong on all accounts. Yes he did. That is the 400M market. You don't just create a new market. You are stealing marketshare from other pharma companies. That is precisely where all the revenue is coming from. If SequestOx doesn't get approved patients still will get their non-ADT IR oxy just as they would normally. If SequestOx gets approved, Elite takes market share from Purdue and other pharmas. This isn't a new customer base, it is a current one. It is based on this fact that creates only a 400M market for SequestOx.
Yep, correct. They have said nothing about removing branded opiates from the market, only generic non-ADT.
BTW, regarding your note you shot me. I have been here for many years too. I honestly hope your early retirement works out. I hope it works out for all longs here. You have me beat at $.04. I came in at $0.11.
My aim is to balance hype here with objectivity & realism.
Utter nonsense. FDA has backtracked on that and added more confusion around what they will due probably caving to big pharma. They have only stated they will at some point remove all non-ADF generics. They have not said they will remove branded opiates and probably wouldn't for many many years. Can't argue with facts.
Don't count your chickens before they hatch. We will hopefully know within less than 2 weeks whether FDA approval is granted and just as important if ADT labeling will be given or delayed.
Haha! Ummm, thanks for confirming that Elite will not own the entire US market. That was precisely my point. Nasrat has stated Sequest is a 400M opportunity, which is only a small fraction of the IR space. Remember, if Elite does manage to sell 400M of SequestOx, they split 50/50 with Pura. So it becomes a 200M opportunity, but even that is a huge stretch.
Look to see how well Egalet's ADT is catching on after launch last year. The chatter here is missing a serious dose of reality.
There is a nice Big Pharma presence in New Jersey. It was clearly lobby pressure & goes to show the messy game of business & politics. BP will do all they can to protect their business. Goes to show that Elite can be roadblocked - by FDA & politicians, but many here ignore reality & only see the rosy side.
NJ was the first of such an outcome & surely won't be the last.
LOL!!! That's what I thought. "Growing" does not mean 100%. Not even close to reality, as usual.
Or how many would it divert to heroin or fentanyl and kill them?
Unless my math is incorrect 9 states does not equal 50 states whoch would be 100% of the US market.
What in tarnation? Thought Elite was going to get 100% of the market on July 14th. Logic & reality are starting to settle in.
I agree. Typical timing I've seen is about 6 weeks, more or less.
Real CEO's set challenging, yet achievable goals to execute upon them with certainty in order to under promise & over deliver. Nasrat doesn't provide clarity and the markets always severely dislike uncertainty.
They wanted more than that as another trial had to be completed. During the adcom, doctors testified that an 8 year old could perform the simple procedure. What I want to reiterate is that the FDA initially approved their trial design & plan and then said they had to do another.
That was a basic financial question. Even CFO could have probably answered it. On second thought, probably not.