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BOD needs to announce share repurchase agreement before it starts executing on it. No vote needed. It’s a material event.
2 years is unrealistic let alone 1. 5-6 years is more likely if they can get the pipeline moving.
We had a nice revenue climb from bringing on Adderalls and have basically stalled since with no meaningful products following suite. Some of that is due to Covid and others due to poor planning & strategic execution (Vigabatrin). Last cc Nasrat mentioned that revs have grown 325% over 5 years, but failed to say that revs vs last year didn’t even keep up with inflation and we actually lost ground. That isn’t a sign of growth. Now that we are once again back at square one, just a different scenario, will be interesting to see how the company performs in top and bottom lines.
One thing that probably isn’t well known is that a share repurchase program when executed at $X repurchased per month or per day can only hit the ask so many times in one session. Buybacks help stabilize the price and can drive it north in a situation where there is minimal liquidity. Problem is that when the buy back program stops, the price would drop significantly without stable long-term institutional holders. There are plenty of investment funds that sell short or churn their portfolios every 3 months. Those are not the instituons you want to attract.
There is zero chance it launches in 2023. Filing hasn’t even been accepted yet.
Opinion article about Cost+ and Kroger partnership. The transformation of the pharma industry will be interesting to watch unfold as consumers will most likely actually reap some benefit. Will be key for Elite to continue to diversify and branch out beyond just generics and the US market.
https://www.brownstoneresearch.com/bleeding-edge/the-beginning-of-the-end-for-big-pharma/
He must be so excited that he put it on tjr back burner and has no interest in pursuing it. Not sure why this keeps getting raised after each call and they say it’s not being pursued.
It will only gather dust. Not going anywhere. He expressed interest in the ER if they can get around Pfizer’s blockade, but doubtful.
It’s a revised SequestOx. Even being 90% cheaper than incl naltrexone the question is whether it is still competitive with extremely cheap generics? That’s the issue.
There is no market for SequestOx. Cost profile won’t lead to profitability until providers start caring more than price. This is why normal generics will still rule the day. This is what Nasrat alludes to in last cc. Until market changes or anticipated on changing there is no need to keep throwing good money after a bad idea.
Rarely is there anything divulged during the Q1 cc. We know revs will be between $7-8M since the quarter was practically over when revs are known. We expect revs for Q2 to be about $8.5M where there will be an update here as to the reality since we’ll be through half the quarter. There will be the update on generic oxy that they are waiting to hear back from the FDA after the full filing has been completed. It will primarily be a regurgitation from the YE cc.
What we will see is our first glimpse into the profitability post-Lannett. This was Nasrat’s short-term concern until revenues start picking up. The good thing is we have a cash reserve and the Nasrat credit line we can tap into for liquidity, inventory and distribution needs.
Would love to hear about a new CFO coming on board, but they may be waiting until after the cc.
Solid reminder of the beginning of the massive wave of dilution coming to Elite.
With Mr. Hakim joining the Company, Mikah has sold to Elite thirteen ANDAs for generic pharmaceutical products. Of the thirteen products, which represent six different chemical entities, twelve of these products are already FDA approved ANDAs, with one already on the market and one ANDA is under active review by the FDA.
Temp CFO can certainly help fill in the gaps until a new one is hired. It ensures you have the right financial oversight & expertise to validate external financial accounting and reporting. Having a qualified presence is absolutely a requirement for a public company. The sheer cost of a temp is also significantly higher so there is incentive to convert the temp to full-time or find the right hire. There is no one to promote as Elite is hiring for an accounting manager position finally as well.
He doesn’t have the qualifications and auditors know it.
Thrilled that they are going to file on time. Let’s see who is acting as CFO and pray it isn’t Nasrat or we’ll have a whole slew of amended 10Q’s down the road if they don’t get a decent CFO in that can stay longer than a few months.
And he’s been recouping those losses through the non-arms length Mikah relationship for many years.
Doubtful it will hit 3 cents flat or below again. Q1 cc will be week ago from today, but we’ll see if they brought in some temp CFO/accounting staff. Otherwise, they’ll get hit with an audit SD and likely delay conference call and release as financials wouldn’t be reliable. Would be great to see Elite still hit Q1 filing submission timing, but not expecting it at this point.
And sadly that’s the current high bid. Could be remainder of leftover fill request.
If someone is paying $11/tab cash cost they are overpaying by multiples. People can receive more competitive cards in the mail and get it for $1.66/each for XR in my state or $0.66/each for IR using GoodRx. Perhaps depends on your geography, but $11 would be highway robbery in Midwest.
That must be the definition from someone who is clueless. He might be the largest shareholder in his family, but it still doesn’t mean squat.
Uh, no. Not even close. No one with 5%, let alone less than less than 1% will have any influence on a company. Come on.
Also, revenue is pretty poor right now. Yes, over the last 5 years it’s up, but year over year we didn’t keep up with inflation. That isn’t a sign of growth. Anticipated growth is what drives a stock price, growth in revenues, growth in profitability, etc. while containing costs. We have really missed the mark on revenue over the past year, however, splitting from Lannett may have been the ticket to ride in growing sales and hopefully profitability and cash flow down the road.
Far cry from even owning 10%. Ownership among top brass is always good, but ongoing dilution without a share buyback does no good to RETAIL shareholders whereas Nasrat continues his march to more annual ownership with all the excessive shares gifted for a company of this size.
It’s my ELTP wishlist
Must be highly accurate then to feed those conspiracy theories.
I have seen 500K, but never 500,000,000 on the ask or 100,000,000. The bid/ask volumes on OTC are not in hundreds like on exchanges.
Here’s a few solid ideas to start (not in prioritized order):
- Work with the management to decrease outstanding share count.
- Continue to increase profitability (potentially current strategic state)
- Complete separation from Elite and CEO’s company, Mikah
- Separate CEO & Chairman roles
- Uplist off OTC
- Implement a small recurring buyback that swallows up more than the annual dilution (going back to first point)
- Get some of those big needle movers filed so investors can see the BE study results, products and total market so actual analysis can be done on the pipeline.
- Hire a CFO that sticks around longer than a year.
- Submit financials without need for amendments.
- Build credibility with shareholders by doing what mgmt says company will do (much better than history, still long road ahead). A crushed stock from credibility being hammered is incredibly hard to fix. Financial results will speak for themselves when Elite gets larger products filed, approved & launched. It’s unlikely this will take place in 2024 so you’re looking 2-3 years out due to no big BE studies reported on yet and the time it takes from BE to FDA filing, approval (no CRLs despite Elite having a history of them) and launch.
“I invented the internet.”
- Abraham Lincoln
CEO & chairman need to be separate roles. Otherwise there is no accountability.
Someone is always getting their bottom hammered. It’s just usually ELTP shareholders. Perhaps that what is meant by the poster.
Sort of choppy, but from the transcript:
“And we launched as April 1st, slow and study and May was much better than April and June was better than April and May. And July will be that and August will part to tip-off and after that we will be in a nice trajectory.”
Good post. Last cc Nasrat stated that August is the tipping point for the future trajectory.
Assuming we still have the Q2 conf call in 2 weeks we’ll get a better glimpse at July and August MTD in the commentary.
Piss poor interpretation, as usual. Just not expecting massive volume from Adderall because no realistic signs point to it how the FDA actually works.
The ELTP King of the Clowns doesn’t get the relationship between big pharma and the FDA. Who pays the fees to keep the FDA running? You think they are going to bite the hand that feeds them? I’m really sorry if you believe that.
Yes, love how you twist words as usual, but to be expected from a 3rd grader.
Clearly to provide truth and reality to the garbage you post day in day out.
I would be shocked if they don’t have a bad wrap in the area with all the crazy CFO turnover. On Glassdoor 64% of reviews recommend the company to a friend and the approve of the CEO.
On the flip side, it’s a small company that has very few reviews.
You are implying that all any beneficial unused allotment will go to Elite. Your assumption is far fetched at very best. Come back to reality. Elite has consistently struggled getting API. They might get a little more, but nothing material.
Lol, we’ll see. This is suggesting Elite is the only manufacturer. Get real and wake up.