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I completely disagree....we may actually see the 60s and not the 20s...today was a total capitulation, and the volume speaks for itself. Interesting how the buy side volume after the significant dips was much higher than the sell side going into these dips...I believe it is now set up nicely for a steady grind upwards.
Right back at ya, buddy..:think long term and what medical need this technology will help address, then take your afternoon protein (a yogurt, in my case) and salute the MMs for allowing additional accumulation opportunities ;)
Yep, it looks like capitulation is close....just let the MMs play this out....I can bet you the CEO is not looking at the second to second fluctuation...he is busy executing on the plan :)
Rob, I see .56 as a key line to hold...the trend line from .62 and .60 seems to go below that; if we hold .56, or even breakthrough it, that could indicate a reversal. What do you see?
Excellent, Rob. I was one of those not too long ago that bought at the wrong time, put money into companies without doing much DD, panic sold for huge losses...I thought I knew a lot more than I actually about the stock market (which was very little). Those times have taught me huge lessons.
Take emotion out, do thorough DD, have an entry and exit strategy, develop nerves of steel, and so on....the list of lessons is quite large ;)
I put my bets where the CEO and directors of eltp did......
Nasrat was not brought in to manage shareholder value on a day to day basis...he was brought in to put together the short and long term strategic plans, and to crystallize the roadmap to increasing shareholder value over time.....if you are in it for instant gratification, as you say you are, this is not for you....
I think you are right about that question "but what do I know".....but I believe you know a lot more than you are leading potential new investors to believe ;)
Successful clinical trials, current and future growth rate, potential of marketplace starting in 2015, possibly being first-to-market, best in class, and the always-present likelihood of a major partnership in 2014....just a few reasons for a growing market cap....
As part of the P&R process, I believe there will need to be a dossier submitted to CADTH and to INESSS demonstrating efficacy and safety (and maybe even budget impact). That submission (which is separate from the regulatory submission) has to be approved to receive reimbursement. I'll check in that internally and let the board know what I find out.
Lasers, this is great additional info I was unaware of. Thank you for adding to the great DD you and others have done here :)
The driver of success of this PPS is the success of the clinical trials....that is what we look at in Pharma when considering L&A activities. Couch is spot on - the patent is important, of course, but the real money and value is in the successful clinical trials, which Elite has begun demonstrating.
If you have a trading platform, you can actually tally up the shares pre and post .57 and see the big difference in volume between the 2...there definitely was more volume to the upside .57 onwards....that is another substantial fact that FUDers can't dispute
"Ok" one-sided interpretation of the chart; the only thing you and I agree on is that strongest support is at the 50 DMA. Other than that, the rest of your statements based on what you "see" exposed your agenda, especially after coupling it with your other posts that have been pretty much refuted. The "gaps" you refer to show overlapping candlesticks (I.e. No gaps), the MACD could bounce off, and the volume may have peaked on Friday.
Hopefully, new investors can focus on the fundamentals, the growth potential, the comprehensive DD info posted by nasdaq, couch, lasers, and others, and see past the unsubstantiated doubt being spread here.
Agreed...to me, the stakes are very high and Nasrat has emphasized that these products are his priority. I believe he is under promising big time here, and I suspect the first one will be files by September.
Lasers, the question again is: do you think that the abuse liability study is the only thing left for the submission, or are there any other requirements that need to be met in order for elite to file by year end?
Hope this clarifies it.
I know, Lasers. The question I had asked was about any additional studies needed for the first filing. I didn't see the connection between that and the third patent that Ryan brought up.
Keep up the great work, by the way.
Couch, couldn't agree with you more.
A question on the valuation study conducted last year - what do you think were the primary drivers behind the 2+ estimate? I tried to break down a billion+ market cap with the current slew of products, also asked some colleagues, but couldn't figure out the drivers. Could it be that their valuation was forward looking for the current products they have now (of course, excluding ART)?
In the BD world in Pharma, we typically don't do partnerships unless we can see the data, whether it is around PoC, P1, P2, or even P3. I suspect the interested parties have signed NDAs with elite to conduct further DD on the data for the recently concluded studies. It would be great if you can add more substance to your statements.
I actually work in big Pharma and have been a part of a few setbacks in my time. But the issue of risks inherent in the drug development process is somewhat separate from the market cap issue you brought up earlier, isn't it?
Looking at market cap based on the here and now is somewhat antiquated. If you ask analysts (and look historically at Apple as an example), forward looking earnings and growth rate are two major factors considered when discussing valuation. But I do believe that you know that already.
Thanks, Dr. Ryan. The issue of the 3rd patent is a separate topic (but continues to add to the value proposition of this company). Assuming the liability studies end this summer, and assuming there are no other requirements, I would venture to say that the filing could occur as early as September. I suspect canargo has already started work on the submission components - it takes a lot of work to put together the regulatory dossier.
By the way, to all the DDers on this board, thank you for your hard work and consistency.
I would tend to agree that Nasrat will move the liability study as quickly as possible to possibly move up filing date. He will have more aces in his negotiation deck at that point. Having been involved in BD work in the past, I suspect he may wait until the study is over to ensure he has the best bargaining position in partnership talks.
That is a critical question....typically these studies run for 3 months (from what I've seen in Pharma). Unless there are other studies that are required as part of the filing, I suspect that Nasrat was attempting to underpromise date of filing. Laser or any of the other DD longs, besides the abuse liability study, are you aware of any other study that is needed for filing? Is there a possibility of a 6 month review by the FDA for this product, given the significant unmet need?
Robdizzle,
You seem to have the best luck in connecting with Brehm. are you planning to call him and discuss this alert?
Yes, I held from last year. Was so tempted to sell at 0.01+, but got greedy and held out. At least if I sell now beyond my cost basis, it will be taxed at capital gains rate :)
narnia1000, a familiar ID......still holding from last year's run...you are right, the word has to get around first for this to start gaining traction. Given the size of this hurricane, I wouldn't be surprised if it hit 0.015 by Monday (as long as people continue to hold).
Grease, was wondering when you came back. Didn't realize you sold out. I have been adding to my holdings in the 2s. Holding now a significant amount and hoping I can get out prior to end of year to avoid the tax increase next year........
Grease, I have given up on trying to get responses from Bob. I am very disappointed in the lack of interest in keeping us informed. I continue to believe in this company and will hold on to what I have in shares until something material happens (maybe pick up a few if it is in the 2s). But I will not post anymore until then.
GLTA
You're too funny, metalmania. Comic relief. Although I have to admit, whether by sheer accident, plain stupidity, or you actually have some intellect, this did come down as you said.
I have brought down my buy orders to low 2s, as it will definitely hit that this week barring material events. Makes one wonder, does bob realize that he has an obligation to inform the shareholders of his company's stock about updates that may impact their investments.
Yes, low volume. But I don't think this will bounce off again unless you have a material event. At least, this is what I am getting from the chart. We will see next week.
Yes, it will return when momo returns. I think the next major event to look for is the potential news around the investment negotiations. As I mentioned yesterday, going through the 200 DMA is inevitable. I wouldn't be surprised if it goes down to the original levels prior to April 29. Should be an excellent buying opportunity then. I will be averaging down at that level.
Grease, wow! I needed that laugh so bad! That was so funny.
In my experience seeing these trades with penny stocks, it is typically indicative of a short-term upwards movement. .01? I hope so, as I am underwater significantly, as I am sure other people here are as well.
Now....we see a trade of 111,111 shares. Coincidence or something at play?
Looks like the latter.......The trend has reversed and is clearly downwards. It will probably go through the 200DMA I would think by tomorrow. A shame, really, as there was tremendous potential there. Wait for next season and watch for a more severe hurricane season. Don't know what Neo from yesterday was basing his statements on.....
Someone is beating down on the bid. Anyone know where the next best bid is? 38s will be taken out soon......
Need a close above 45 to maintain the upward movement. Close above 54 would be much better, while close at or above 6 would be ideal. Got some change today to see how we can make that happen....
here we go. Just breached the upper BB, the previous high. The next resistance is the 50 DMA.
I just use stockcharts.com, and the tools there. I could copy and paste, but it is easier on me for peopel to check the chart out themselves.
It seems that the MMs want this to break 5. I hope we hold this, though, and push through 54. Need to see the follow-on volume today.
Guys, just one last thing. With the MACD and TRIX now crossed over, the next major resistance line is at today's high, 0.0057. It is right at the edge of the downward trend line. If we can break and hold 57 tomorrow, we would have confirmed the reversal, not to mention moved past the upper BB, which would help support a strong rally upwards. After that, is the 50 DMA, which I wouldn't expect much resistance from.
Fun stuff......Most of the time, technicals do not apply in pennyland..............
and green today as well. It held the 20EMA, and there is now a cross in both the Trix and MACD. If we hold above 5 today, the TRIX will officially have crossed over. I look to see increased volume now with these buy signals.....