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Two months since meeting with FDA and still no response. Does not look like they think very highly of Elite's technology. Elite is running out of pumping material, share price is sinking fast, and longs are heading for the exit as this scam is becoming more apparent.
I really hate to think it but the longer this NDA limbo drags out, it further confirm that Elite is a Pump and Dump. We saw all the Pump from management all year long, now the steep PPS decline with no progress. If there is no news regarding NDA by next month, we all know what usually comes after the Dump Phase..... Lawsuits!!
Couch,
I doubt that we will move into the teens even when FDA comes back with Efficacy study requirement. Investors are waiting for certainty in direction. If and when we have the ultimate ruling body comes back and says "all we need left is an Efficacy study", PPS will start to move up. I doubt that investors sell once there is a clear path to approval. I will add another 500 hundred thousand with that news. Anyone here looking to sell when FDA comes back with Efficacy study requirement, I can pick up 500 thousand at 20 cents.
Flippers did not make much today because investors are too smart. Investors knows there are no positive news in the near future so they are not jumping in. all are anticipating a downward slide until Naz has to announce efficacy study requirement at which will drop this into the 17-18 After Efficacy study is announced we will move up and never see this type of PPS again.
Snupoled,
Naz is playing CEO as if it was his first Rodeo. Predictions, deadlines,decisions has been way off. Efficacy study should have been initiated prior to meeting with FDA. I suspect that Elite's woes are beyond mere incompetency. How can a CEO of 34 years get it dead wrong every time? This might be clandestine calculations by management to mislead investors. Evaluation is off by 90 percent, "We are on track to file, when ?", refusal to release Evaluation firms name, Generics never launch despite numerous promises by CEO. Those that still believe in Elite are true gluttons for punishment.
There is no January effect for Elite. Shares are be walked up on minimal bids... Those that wants to buy has to pay a premium. Shares was inflated 13 percent with a few hundred thousand traded and then the sell off yesterday (3 million traded). if there is a "True January effect" we would see bigger block come in at the bid. So far all we see is minimal 2500 block at the bid to inflate PPS.
Food for thought,
One way that Nazrat can clean out investor is to drive prices down, sell the rest of authorized share to LPC and make request for new offering. How else can we explain the all the fake deadline , delays and s very suspicious evaluation?
The facts suggested differently. In the last few trading session, PPs was driven up on minimal bids. Everyone here with any experience trading know this was the case. Rationale suggests that someone is trying to drive prices up to dump their shares or they might be anticipating news and manipulate PPS up to increase profit margin. OTC manipulating 101 :) PPS is manipulated both way depending on the condition of the stock.
Elite Art will do nothing for the Opiod overdose epidemic. Everyone knows that death due to overdoses from Opiod prescription pain medications are multi-pill ingestion. Elite Art might be a small step in the right direction but is irrelevant in the grand scheme of the drugs epidemic. To suggest that Elite is the answer that the FDA is looking for in the abuse prescription drugs epidemic is ludicrous.
Really? what happen since Nazrat bought?
Looks like someone is optimistic that share price will spike in the very near future hence the small incremental bid to raise PPS. They have raised it 13 percent in the last 2 days. this may continue for a few more days until news hit. They will sell when with this news and we will be back below 20 cents.
It is apparent that NAZ bought at 33 cent as a ploy to suck in new investors. CEO had no intention of launching Isradipine, NDA would not be filed, and very likely, additional Studies will be needed. Knowing all this data, what person in their right mind would buy at those prices? NAZ knew that prices would drop if he did not meet deadline and he bought anyway. Some of you guys on here will try to spin this as something positive but unfolding events are exposing this CEO as a" ______". When Naz bought at 33 cents , how many investors got sucked in thinking that PPS has bottomed and positive events were around the corner? We are sitting at 20 cents folks, How is this not fishy?
Many have tried to answer your question as why Elite will not succeed, you chose not to see it. Elite Optimist only see what they want to see despite numerous facts confront them. Elite has been around for 10 years, yet no one is interested, hence no Partners. FDA priority is technology against multi-pill abuse to dampen the numerous deaths from drug overdose. Anti Tampering technology although not obsolete, does not change the current epidemic. Can anyone site one instance where someone died snorting a crushed Oxycodone? Anti tampering technology is a " Back burner" priority at best. How else do you explain the delays, the PPS, the overall lack of interest in Elite? Its been almost 2 months since FDA meeting and we got nothing back despite assurance of "Expedited review" for Elite. PPS spike to 97 with fraudulent evaluation fake promises from Management. Once the Market realized the the fraud we dropped to 20 cents and going lower. I hope i answered your question. Have a nice day:)
You forgot the 6 millions dollars sale to LPC that we know about. Looks like more LPC share are on the market. John is right, ELITE is selling through LPC. they are selling just slow enough not to cause a panic... This will surely strip investors clean. :) We all know Elite ran up to 97 on Fraudulent evaluation and false promises. As each deadline come to pass , reality is setting in and smart investors are heading for the exit. Price drop has nothing to do with Manipulation. This Pump and Dump is becoming clearer. Naz can not sell because it would panic the Masses and he would not get all his 152 millions out in time before bankruptcy. If he sell through LPC under guises of necessity clinical funding, they will maximize their returns. Brilliant Naz!!
Hope is a scary " Carrot" with Elite. Hope keeps Longs hanging on when the sensible thing to do is to sell and move on. After fraudulent evaluation, numerous missed deadlines, and now indefinite delays Longs are still hanging on because of "Hope". There is Hope and there is Reality. longs are blinded by the riches that was promised despite fact after fact slaps them in the face. Elite is going nowhere and we all know it.
The truth is that there are a very minimal amount of abuse through tampering. If addicts are desperate enough to crush and snort Vicodin or Oxycontin, the easier route for them would be to buy heroin off the street, 5 dollars will get you high all day. Priority is Multi-pill Abuse technology not Tampering Abuse. Elite sadly does not have the technology FDA wants.
If the FDA is taking this long to get back to NAZ just on filing NDA, They are not that interested in this technology. FDA has always made it clear to all Biotech that what they really want is " Multi pill abuse technology". The longer it takes for the FDA to get back to Elite, the more insignificant is their opinion is of Elite. Furthermore, this company can be bankrupt over night if another company announce that they have a " Multi-pill abuse technology".
Despite the missed deadlines, the fake evaluation,all the false promises, relentless Pumping of this stock is unconscionable. One must ask the question as to Why?
Really? a company that has a billion share float. The only reason that Elite is at 22 cents is expectation of a ART. Without the ART tech, this company with be 7 cents and i am very generous at that. Merry Christmas to all!!!!
The side effects are the same before the Art. Elite does not change the formulation of the drug, just neutralize the effect of the opioids if it is tampered with. It is simply the effectiveness of preventing abuse that the FDA will be concern with.
Smokes and mirrors! Management has set many deadline that has come to pass without any fruition.
Without an MBA, I will go out on a limb and Ask the question, " Why the heck wouldn't you want to file all the generic?" Most folks consider generating income is a priority in any business. Unless those Generics are not worth the time and the filing fees. NAZ took those generics off his friend's hand without any intention of filing most of them. Site transfer that was to be filed by Epic in June was never done. So far all investors have heard was hype and lies.
Looks like they ran out of Pumping material so they concocted some irrelevant patent issue... Looks like investors are saw right through it. How is this not a scam folks?
Looks like their bellies are full after all the Pump and Dump leaving Investors high and dry. " This is our Year!!", "The next few months will be very exciting for Elite." The pattern is now very clear folks. Pump and Dump with every CC. Next stop looks like 17 cents.
Nazrat should file NDA now and cash out the LPC shares with the subsequent spike in PPS. If FDA comes back with additional study request we would have money and many shares left from the recent offering. By not filing now, Elite risk the possibility of share price plummeting to the teens or less, cashing out LPC will be too late and not enough. We have nothing to lose but time if FDA comes back with more request if NDA is file now.
I am confident that Isradipine will launch before Xmas. NAZ needs to salvage some dignity after all the BS about " This is our year" Hype. It might get 7-10 percent boost on just that day. Isradipine is insignificant in the grand scheme of things. We are all waiting for NDA and I am sorry to say Might not happen for a while.
Looks like it might be a Kaepernick pass at this point. More promises of good news, Buy out, Partnership, 10 billion in revenue, NDA filing. Nothing but fake promise and Evaluation.
ELTP switched trading platform. They switch to another OTC hence the zero trade this morning. Everything should be back to normal. Anyone talking to Dianne should ask why.
Spoke too soon there buddy.
Looks Like Isradipine will launch right before Christmas. Elite release about one PR a month. There are no other worthy news n the Short term. NDA will not be filed.
Who are these wall street professionals that she is talking about? Making more excuses for missed deadline. I hope the professionals she is talking about are not in the same league as the ones that concocted the Evaluation.
It appears that Jonh was right about the 3 new hires were appointed to remedy some issues with ART.
Love the optimism but please stop the BS. Its not MM that is bringing this down. We are probably seeing countless LPC shares flooding the market on top of investors fleeing from the lies propagated by management.
People did not see Elite as a scam back then Now its a different story. CEO has lost all credibility with false evaluation and phony deadlines.
It might be a better deal in the teens
Yes, And when will that filing happen?
Look at this folks!
Over time, existing shareholders of troubled biotech companies tend to be the biggest losers when Lincoln Park gets involved.
Aastrom BioSciences (ASTM) entered into a stock purchase arrangement with Lincoln Park last January. Since then, Aastrom's stock is down 16%. Oncolytics Biotech (ONCY) did its Lincoln Park deal in February. The company's stock is down 60% since that deal was announced. Biodel (BIOD) : Down 21% since its Lincoln Park financing was signed in July. Ocata Therapeutics (ACTC) : Down 13% since Lincoln Park started buying the company's stock in July. And Soligenix (SNGX) shares have lost 17% of their value since the November 2013 Lincoln Park financing.
Of course its a timing issue. Time = Money. The longer Elite takes to get to market, the greater the risk becomes. There is always a chance someone will come a long with a better technology. Taking too long to get to market will depress PPS further and LPC will not be enough for just 1 product. Guess what happens after that? New Offering folk!!!!
You already heard him say he will not rush NDA this December, What else you need buddy?
We don't know whether it is flawless or not until a third party like the FDA confirms it.
Manufacturing Partners I would not worry about until we have more than 2 product on the market. Marketing Partners however is a different story. Its very easy to draft contract where the Partner would assume minimal risk base on sales.
Snup,
I enjoy your optimism but Price action not only reflect uncertainty of Approval but market penetration once Appoval is granted.