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That’s one of the issues. They don’t have product. DEA said they couldn’t build their own inventory until after deal finalizes. We shouldn’t expect anything right out of the gate.
Would be nice. Lannett could never pull it off.
Pure garbage. You have no idea who that is or what that means. “Key” could mean key to Elite. Elite will have the majority of their revenue cut off so anything could mean “key”.
Could also mean they have a partnership with Ace Hardware to distribute keys. Never know - Mikah is still being unwound.
No one has any idea what that means. That could mean 2 contracts with mom and pop pharmacy joints. Until Elite divulges more, why should be expected at the next CC, we’ll continue to be in the dark.
Who do you think IR reports do? IR takes direction from CEO and BOD.
It’s a terribly sad situation. Will be interesting to see what contracts Elite can get in place.
Lannett/Elite end partnership at end of March
Cautiously optimistic
He has said on other occasions that the long term goal is to sell the company. He has also said uplisting is a top priority, but that’s a different can of worms.
Every company starts somewhere. Adderall is Elite’s beginning (after many years with poor decisions) to keep the operating cash flow driving R&D. They are on track to outperform history in top line and profitability. Pissed investors are growing wary of the slower than hare progress, but progress is being made nonetheless. CEO has fuzzy history on the ability to execute. I think he has the partners in place to successfully transition away from Lannett. We’ll see whether a CFO can put up with things long enough to stick around for their annual review.
Stocks trading below book value should not be a surprise. Future risks and uncertainty can be absolutely detrimental to the share price, as ELTPs shareholders have witnessed firsthand for several years.
Closing out the closers?
I’m much more worried of SP falling back to pennies without proof of successful sales transition. Until then, OTC is safer place.
There’s such little volume on OTC where there won’t be any significant movement one way or the other. If we RS/uplift and sales don’t materialize the downside could be much more painful.
Why would Elite uplift when they haven’t proven their revenue stream? Most of their revenue needs to be rebuilt post-Lannett. Uplisting would be an extremely poor decision to make at this time.
Lol Now it must be official.
Can’t ignore compensation via Mikah. He owns 50% Adderall. How about those other side deals for Mikah?
No, the timing under a period where there is significant risk would be futile. After successful transition away from Lannett would be best. Otherwise stock craters and we are back on OTC with fraction of ownership we have today.
Lol I would have no desire to be a CFO at Elite. Finance takes a backseat role to Mikah.
OTC shareholders means absolutely squat. That will not drive up share price nor will it provide share price stability.
Market clearly is communicating the lack of faith in the future growth of the company. Company growth first has to start far exceeding the dilution from the CEO’s annual bonus. Don’t ignore dilution.
There is currently no confidence in this company. Now with 90% of revenue on the line, there is a reason this is a very risky play. Market sees more risk than reward.
Elite chose partners poorly. Lannett barely penetrated Adderall XR market. Markets are forward looking and there was very little forward PE applied because there is virtually no growth. Pipeline stalled and is now starting to move again. There is concern about what CEO can actually bring to the table after SequestOx failure. That has tarnished him, hands down. He needs to prove he is worthy of investment. He has helped the company achieve CFP, now let’s see some real growth. Low single digit growth y/y is nothing to celebrate.
Only if excess cash is used and doesn’t risk company’s future potential. Market is forward looking.
CFO rotation is a massive red flag for any potential interested party. I think the best route should be to use a contractor and convert them to FTE if they can prove the job. This way the waters can be tested on both ends with flexibility for Elite. It’s more expensive, but worth it. We can always bring in another contractor if the first doesn’t hold water.
CFOs and other from CSuite need to be cherry-picked from other organizations. The funnel of talent is smaller at this level, which is why a specialized recruiter is needed.
Not necessarily perception, but rather using specific c-suite National recruiting firms like Korn Ferry. A simple job post on a website doesn’t catch the attention of the right talent and would be worthless. On flip side, we go through CFOs like water…
Why do a buyback now when they haven’t secured their revenue stream post Lannett? Doing so now could put liquidity support in jeopardy. I’d expect Elite will be Cash Flow negative for Apr-Jun quarter and will need to pull from cash reserves.
So is trading. Absolutely no shares traded after 3 hours into the session. Crazy.
Huh? The entire purpose of Elite’s bioequivalency trials are to confirm the generic is equivalent to the brand. If trials prove bioequivalency, the filing is then prepared and submitted to the FDA. That’s it. Full stop.
If you weren’t aware that Elite is a generic drug company you may want to revisit your investment research.
It’s a generic bioequivalency trial. This isn’t a path to new technology.
That was’t implied to be negative, but rather an FYI that telehealth isn’t the answer. Telehealth regarding Adderall is getting more regulated, which pushes doctors to have more control, but slows down script writing. It may push more Elite’s way, it may not. All depends on contracts we have in place.
Adderall telehealth scripts may not last much longer. Been all over news past few weeks.
https://www.hklaw.com/en/insights/publications/2023/03/dea-proposes-new-telehealth-prescribing-rules
Closer v4.0?
It won’t be, it’s a potential generic of the branded. Can’t be better, but can be similar.
Well, let’s see a filing first. Would be a good start.
I think the same about those who think that the stock is manipulated. It’s a low trading volume, high OS stock with big float and no IR or CEO care in the world to do anything different to change it, other than complain.
I don’t disagree. CEO has become more cautious as to what he communicates. R&D continues, clinical trials continue, gross margins continue to expand, etc. I’d like to see some bigger products and products that we actually keep vs selling to 3rd party. The company is growing, albeit far slower than anyone shareholder would like. I expect that shift away from Lannett will be our last major hurdle before we see faster growth driving more investments in the company. I’m cautiously optimistic about the next couple of years.
I think the commentary will be more important than the results. We know Apr-June Q is a ramp of inventory to prep for launch. I want to hear more about contracts being signed and future business to help me as a shareholder understand true risk & reality post-Lannett.
Well, you can answer that question yourself. How is Elite doing with clinical trials? Have they stopped?