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Never thought I'd see .08 again. I guess I should have waited another day to buy back in!
Humor me...this is my first foray into pennies!
I only invested cause I knew about the company through a former employee.
I'm learning a lot from the experience and I don't have the family fortune in it!
I was going to buy back in regardless. Had hoped I could buy back in lower but don't look like that was going to happen. Pretty solid foundation.
If we could JUST get a Hydro or Naltrexone announcement...
I got out Thursday just to be safe. Sold my 100,000 shares. Got back in this afternoon after seeing the insane support.
Bought at the ask (.103)
Trade had to be executed in 3 blocks
45,000
50,000
5,000
Whats that tell ya?
If they do that and we keep at .10 during the process that would be a rather good thing...
That's for the annual meeting I thought? Not the q1 earnings?
Last year Q1 earnings came out 8/17.
Says 8/17 here:
http://www.investors.com/StockResearch/StockNews/Earnings-Report-Focus/Nasdaq-Elite-Pharmaceuticals-ELTP.aspx
Don't know if either is right though. Be nice if ELTP had it on their website! They still have annual meeting info from 2009 up there!
There have been no changes to that web page for a long while.
I monitor the entire Elite website daily via page2rss
If you are going to make a post please make it meaningful.
If I posted the sky is blue tomorrow will you guys cheer me on?
Seriously. I'm very much long but lets leave the pumping (and bashing) to the Yahoo board.
Thank you for that waste of perfectly good pixels...
My point was they say what a "bad" ratio Elite has yet Novartis is basically thrown into the same group. I'm not real worried about Novartis and neither am I really worried about Elite (for different reasons. These "announcements" are pretty meaningless and just intended to drive traffic to their websites.
Anybody worried about Novartis?
I didn't think so.
On the bid
PERT 0.113 413000 13:06
My read on this. But I am not a patent expert by any means.
Elite had 140 claims prior to this submission. They withdrew all 140 claims and added "new" claims 141-153. In this go round each and every claim was rejected.
Elite made some progress in that the patent office agrees with Elite's arguments regarding Sackler & Mumberger. However Elite has failed to persuade the patent office with respect to Kaiko, Skinhoj and Stark.
Essentially they have not demonstrated that their invention is substantially different than the patents filed by the three named above. They need to prove that they have a "better" and/or "unique" approach.
This application seems to need a lot more work than just fixing and labeling graphs.
From HITK 10k:
The Company is currently evaluating several strategies to preserve its Lodrane® franchise. These opportunities include filing a 505(b)(2) filing with the FDA to receive approval for the current Lodrane® product or in-licensing a similar product. A filing with the FDA could lead to either a prescription or OTC product depending on the requested indication and data provided in the filing.
Read more: http://www.faqs.org/sec-filings/110712/HI-TECH-PHARMACAL-CO-INC_10-K/#ixzz1STMOSasZ
Excellent Post. Thank You!
Google shows ELTP beta as 2.63
Yahoo shows it as 2.89
IBD shows it as -.41
Nasdaq shows it as 0
Reuters shows it as 2.60
Crazy....
From the Yahoo board. Have to sift through much doodoo but sometimes a good post can be found. I have not verified this but it sounds legit.
Isradipine was manufactured by the Actavis Totowa NJ division, which recalled all of their products in 2008 due to problems with their digoxin product.
http://healthcare.utah.edu/pharmacy/alerts/330.htm
The manufacturing at Totowa was never resumed, and Actavis has since been transferring the ANDAs from that plant to others including Epic and Mikah, which has obtained several including Isradipine, and has then transferred those to Elite. See the FDA Orange Book transfer lists for the transfers occurring between Actavis, Mikah, Epic and Elite during 2010-2011. There are still many products from the Actavis Totowa division that could be added to this transfer process. Per the CC (Actavis = "undisclosed large pharma"), additional products may be added to the new "large pharma"-Mikah-Elite manufacturing and marketing arrangement.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_E/threadview?m=tm&bn=99215&tid=81469&mid=82222&tof=4&frt=2
Sorry, it just popped up on Yahoo....thought it was different from the 10k.
Financials out:
http://finance.yahoo.com/q/is?s=eltp.ob
See if this helps:
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_E/threadview?bn=99215&tid=71740&mid=71816
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_E/threadview?bn=99215&tid=61882&mid=61907
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_E/threadview?bn=99215&tid=52254&mid=52254
Good post.
A little more info...
They were forced to sell Isradipine to Cobalt Labs/Watson so that they would not have a monopoly. Cobalt is a canadian subsidiary of Watson which is in Parsippany, NJ.
see: http://www.watson.com/products/product-database-detail.asp?group=alpha&c=I
Since there is a competitor now there is nothing to stop Actavis from re-acquiring and selling Isradipine. Hence Elite.
If by thanks for the cheapies you are implying I sold my shares, I haven't sold. Long w/ 100,000 shares at .096 average and they are free shares for me.
You want noise...go to the Yahoo board!
Folks still on vacation I bet.
If you want to kick up a discussion I could start off by asking some speculative questions.
What are the odds on ELTP ever getting Lodrane revenue back online?
How long will the Methadone delay be due to FDA reclassification?
Painful damage as Remoxy is rejected again (Subscription Only Story)
Source: EP Vantage
Company: Pain Therapeutics, DURECT, Pfizer
Date: June 24, 2011
Investors in Pain Therapeutics and Durect who took as a positive sign the FDA’s approval of Oxecta last Friday are gnashing their teeth today (Oxecta FDA approval tempered by lack of abuse resistance claim (http://www.epvantage.com/Universal/View.aspx?type=Story&id=248098&isEPVantage=yes) , June 21, 2011). The regulator has rejected the companies' abuse-resistant oxycodone pill Remoxy, causing shares in both to tumble in early trade today.
The second complete response letter raises the spectre of Pfizer pulling the plug on development of the extended-release pain reliever. Such a scenario would leave Texas-based Pain with a tough decision over whether to try a third time for approval of its lead product on its own, or re-focus on its early-stage assets.
Agreed, although with the fast tracking of abuse proof and the 70-90% odds... how much would somebody pay for a stock that had a 70-90% chance of having a drug with a multi-billion dollar sales potential within 2-3 years? Imagine owning 100,000 shares (like me!) that cost you about $7000 to buy that you flipped once or twice so that you now own them "free". Then 3 years later you had a $5 or $10 stock?
http://www.evaluatepharma.com/Universal/View.aspx?type=Story&id=248098§ionID=&isEPVantage=yes
Oxecta FDA approval tempered by lack of abuse resistance claim
Source EP Vantage
Company Acura Pharmaceuticals, DURECT, Pain Therapeutics, Pfizer
Date June 21, 2011
Acura’s ostensibly abuse-resistant formulation of oxycodone, Oxecta, got approval from FDA but with a disappointment on the label: it includes an explicit statement that the pill does not in fact reduce the danger of abuse. Combined with the agency’s call for partner Pfizer to conduct an epidemiological study of whether the new formulation of the pain reliever deters abuse, Oxecta is looking to be a drug with a limited marketing edge for now.
Acura investors initially took some heart in the approval, and the $20m milestone from Pfizer that came with it, by driving shares up 75% to $6.80 soon after market opening yesterday. However, the stock quickly fell back to $4.50 at close, just a 16% gain, and so far have declined a further 9% in early trade today to $4.08 - no tangible net gain compared to last week's prices. The tempering of investor optimism reflects an understanding that unless Pfizer’s post-approval trial can prove that Oxecta reduces misuse, partnership income will be restricted.
I came very close to selling a portion of my position at .205 today.
Glad I did not.
I gave up on Yahoo board about a month ago. What a waste of time!
Pretty solid base here. Had order in for 25,000 @ .128 for several hours. Just got partially filled @ 9000 shares. Still waiting on the balance. This will get me to an even 100,000 shares .092 average.
Geez, makes the 25,000 I just picked up seem pretty measly!
Here is some minor DD...
From LinkedIn profile of employee:
Experience
Manager, Product Development
Elite Pharmacetuicals
Pharmaceuticals industry
January 2011 – Present (5 months)
Responsible for reviving company’s dormant Research and Design (R&D) program while instilling positive momentum into the product pipeline. Designed R&D oral dosage formulations while performing technical transfers and process validations of acquired products.
Collaborates with senior management in new product development from concept through commercialization, evaluating feasibility through marketing forecasts and commercial manufacturing costs.
Acquired, evaluated, and communicated all technical data and related information to senior management, board of directors, and other functional departments.
After assuming the responsibilities of the Operations Director, oversaw commercial production while maintaining R&D projects. Completed the successful technical transfer of five commercial products.
Coordinated efforts with Quality Assurance and commercial manufacturing department to streamline procedures and to train/manage personnel, decreasing overall R&D/manufacturing timelines by 20%
For those too busy to sort through it this is what I got out of it:
MARCH 2011 - APPROVED DRUG PRODUCTS LIST
ELITE LABS
* ELITE LABORATORIES INC
HYDROMORPHONE HYDROCHLORIDE, HYDROMORPHONE HYDROCHLORIDE
NALTREXONE HYDROCHLORIDE, NALTREXONE HYDROCHLORIDE
EPIC PHARMA LLC
* EPIC PHARMA LLC
PHENTERMINE HYDROCHLORIDE, PHENTERMINE HYDROCHLORIDE
These coincide with Elite website "Commercial Products"
http://www.elitepharma.com/product_pipeline.asp
No sign of Lodrane on there. Hopefully soon.
Sold off some shares at .22 to recoup original investment.
Now I'm playing with house money!
Now that CNN article...seems like the stars are aligning!
I've been in this stock for a long while now, back in the day when we would have days when not a single share traded. Seeing this volume now is just amazing to me.
Does ihub have an ignore feature? this is ridiculous!