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Not everyone here is a trader and really cares! We believe in the company and also don’t trade the 5 min chart we trade the daily and weekly chart which both screams buy. GL worrying about penny trades for penny money.
You would think but it is the OTC and rules do not apply. GL
I agree.
Don’t be surprised if Elite gets manipulated back to .97 again in 2018. Elite is in better position to make a run today then it was in 2013.
Great post!!
This reminds me of the end of 2013. Hopefully the start of 2018 will be like 2014! GL
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 11 October 2017
ORDER GRANTING CONFIDENTIAL TREATMENT UNDER THE SECURITIES EXCHANGE ACT OF 1934
Elite Pharmaceuticals, Inc.
File No. 1-15697 -- CF# 35426 _____________________
Elite Pharmaceuticals, Inc. submitted an application under Rule 24b-2 requesting confidential treatment for information it excluded from the Exhibits to a Form 10-Q filed on August 9, 2017.
Based on representations by Elite Pharmaceuticals, Inc. that this information qualifies as confidential commercial or financial information under the Freedom of Information Act, 5 U.S.C. 552(b)(4), the Division of Corporation Finance has determined not to publicly disclose it. Accordingly, excluded information from the following exhibit(s) will not be released to the public for the time period(s) specified:
Exhibit 10.57 Exhibit 10.58 Exhibit 10.59
through July 6, 2022 through November 9, 2022 through November 9, 2022
For the Commission, by the Division of Corporation Finance, pursuant to delegated authority:
Brent J. Fields Secretary
This is copied from the 10Q in August!!! This is what the CT is about.
10.57 Master Development and License Agreement For Products dated July 6, 2017 between Elite Laboratories, Inc. and SunGen Pharma LLC (“SunGen”). Confidential portions of this exhibit have been redacted and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended
10.58 July 24, 2017 Amendment to August 24, 2016 Master Development and License Agreement between Elite and SunGen Pharma LLC. Confidential portions of this exhibit have been redacted and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended
10.59 December 1, 2016 Amendment to August 24, 2016 Master Development and License Agreement between Elite and SunGen Pharma LLC. Confidential portions of this exhibit have been redacted and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended
Be greedy when others are fearful.
Manipulated stock
Regardless. This is manipulation at its finest. SequestOX isn't going to see any revenue for sometime anyway. Watch this stock skyrocket in the near future based on approved generics. When all these new investors and people saying it can't be stopped once it hits a dollar will get burned again. Won't be surprised if it hits a dollar but after that it will be back down to .20. All this is manipulation. There were more people getting in yesterday then selling.
Yeah anybody that sold at .10 lost yesterday.
Over 3 years ago the stock hit 9.5 cents. A month and a half later it started a run to .97 cents. Can history repeat itself? Maybe.
I have a $100 buy order in at .0001 when Percocet gets denied too.
Nasrat secretly told us that the SequestOX results were positive back in January with this PR. Genius!!
Elite Pharmaceuticals Reports Positive Topline Results from a Pivotal Bioequivalence Study for a Generic OxyContin®
NORTHVALE, N.J, Jan. 17, 2017 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCBB:ELTP) today reported positive topline results from a pivotal bioequivalence fed study initiated in November 2016. The topline results indicate that Elite's generic product is bioequivalent to the branded product, OxyContin® (extended release Oxycodone Hydrochloride). A fasted study was previously conducted in September 2016, also with positive results.
The study was a single dose crossover comparative bioavailability study of Oxycodone HCl extended release in healthy volunteers under fed conditions. The Elite product is a generic formulation of the branded product, OxyContin®, with strengths of 10 mg, 15 mg, 20 mg, 30 mg, 40 mg, 60 mg and 80 mg, and incorporates physical abuse deterrent properties. IMS reported approximately $2.5 billion in revenue for OxyContin in 2015.
"Following our recent announcement regarding a successful FDA meeting for our immediate release Oxycodone HCl product SequestOx™, I am now very pleased to announce these positive topline study results for an abuse-deterrent twice-daily Oxycodone," said Nasrat Hakim, President and CEO of Elite Pharmaceuticals. "We intend to file an ANDA for this product later this year."
This stock is fine. 3.5 million on the downside of revenue is pennies compared to what will be made. Stock will bounce off the 50 period today and start heading towards.21. Will break out once SequestOX trial is good. GL
Nice little power point I found. If Elite can succeed with Sequestox. It is off to the races.
http://www.cbinet.com/sites/default/files/files/Kraus_Alexander_pres.pdf
Head and shoulders chart pattern on the daily. Look for a break out to the upside !! .21 is the barrier. Long term trend. Probably will happen when Percocet is approved. GL
Going Global!!
Nice news this morning! Dr. Reddy's investors are probably really doing some DD on this company as we speak. Great timing on the PR. Probably burned some traders and investors that jumped out.
https://seekingalpha.com/news/3269334-new-fda-chief-gottlieb-takes-aim-u-s-opioid-epidemic?app=1&uprof=45&utoken=e018384a8a182a01460a6d05d84fad30#/email_link
New FDA chief Gottlieb takes aim at U.S. opioid epidemic
May. 23, 2017 12:16 PM • SA Editor Douglas W. House
New FDA Commissioner Scott Gottlieb, M.D. is tasking the agency to refine its regulatory scope related to opioid pain killers. Calling the epidemic of opioid addiction "his highest initial priority," he has established a steering committee to explore additional ways the regulator can address the problem.
Key questions: Should there be some form of mandatory education for healthcare professionals to ensure proper dosing?
Should the FDA take additional steps to ensure that the number of prescribed opioid doses are more closely tailored to patients' medical indication?
Is the FDA doing enough in its drug review process to adequately consider the risk of abuse and misuse of opioids? Are new policies needed?
Smart ones sold on the 15 and bought back in today or didn't sell at all. Beautiful spinning top with nice volume. Should be fun next week.
http://www.trademarkia.com/map/sequestox-86657028.htm
Notice the extension date: 12/21/16
Same day as end of the year review meeting for SequestOX!$$$
I agree. I thought the CC was very informative and shows that Elite is fully committed in the the generic business and have a path forward. Patience will win this play.
I don't say this often, "I can't wait for Monday!" Lol!!
Keith Moore was management with Remote Dynamics. David Walters used to work for Monarch Bay also. Go to the Boustead website and you will see Remote Dynamics with a $3,000,000 convertible debt offering.
Someday this ticker will take off!!!
More eyes on it now with this global investment firm.
Monarch Bay Securities Joins Forces With Boustead & Co of London
Rebrands as "Boustead Securities, LLC" at www.boustead1828.com
LONDON, UNITED KINGDOM and LOS ANGELES, CA--(Marketwired - Nov 2, 2016) - Southern California-based Monarch Bay Securities, LLC today announced it is joining forces with Boustead & Co of London and has been rebranded Boustead Securities, LLC (www.boustead1828.com).
"We are delighted to welcome Boustead & Co as an equity partner, to continue and build upon their storied second century of investment banking heritage," said Keith Moore, Founder and CEO of Monarch Bay Securities, LLC.
Boustead & Co is a merchant banking, asset management and corporate finance firm which originated from Boustead PLC, whose predecessor was founded in 1828 by Edward Boustead. Mr. Boustead was a prolific merchant trader, banker and philanthropist whose work played a key role in the development of Singapore as a business and trading center. Boustead & Co brings together a diverse and highly capable management team that continues his work with socially-focused merchant banking, developing diversified investments in areas including agriculture, property, and alternative energy.
"Monarch Bay Securities has built a leadership position in both traditional and next-generation investment banking in the US over the past ten years," said Daniel J. McClory, President of Boustead & Company Limited, the US holding company for Boustead's global financial services subsidiaries. "From public offerings of securities, to mergers and acquisitions, and today's crowd-funded initiatives in real estate and other asset classes, we believe Monarch Bay is the perfect platform to bring together the old and the new, both globally and locally," he stated.
Monarch Bay Securities was founded in 2006 to assist middle market private and public companies largely underserved by Wall Street. Over the years, Monarch Bay (now Boustead Securities) has continued to expand its services and professionals, fast becoming a one-stop middle market investment bank, in a wide range of industry sectors and geographies.
Boustead & Co's history of trailblazing and original thinking offers a synergistic alignment with Boustead Securities' mission to create opportunity through the application of proven innovation and entrepreneurial focus. Boustead Securities will follow in the path of Edward Boustead's originality, bringing his talent for pioneering new markets and discovering unexploited opportunities into the 21st century and beyond.
About Boustead Securities, LLC
Boustead Securities, LLC is an investment banking firm that advises clients on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions. Our core value proposition is our ability to create opportunity through innovative solutions and tenacious execution.
With experienced professionals in the United States and around the world, Boustead's team moves quickly and provides a broad spectrum of sophisticated financial advice and services.
CONTACT INFORMATION
Media Contact for Boustead Securities, LLC
Keith Moore
+1 949-295-1580
keith@boustead1828.com
Media Contact for Boustead & Company Limited
Daniel J. McClory
+1 949-233-7869
dan@boustead1828.com
End of the month. Probably close at .15
Biotechs up nearly 2% as Trump promises faster-acting FDA
Doji candle
Looks like our little seed of a company is starting to grow a stem. Hopefully it will be a flower by the end of the year. $$$$
WTF!! You crazy!!! Lol.
ELTP bearish channel on the daily chart. Wondering if it will breakout like the runs in January 2011 and 2014 this coming January 2017.
Yes I do. More like a 2011 run. Currently in bearish channel on the daily chart which is usually follows with a breakout.
Has nothing to do with Elite and it's fundamentals. All technicals and stock manipulation.
Don't be surprised if the stock takes off the first week of January to 30 cents up to over a dollar in 6 months. Looking at previous data over the last 8 years makes me wonder if next month is the start. 2011 .03 to .25. 2014 .13 to .97. 2017 .14 to ? As a investor you then decide do I sell or hold.
Watching it right now.
Interesting report from EGLT CEO about there PUDFA delay.
https://www.benzinga.com/analyst-ratings/analyst-color/16/10/8564120/the-fda-missed-egalets-pdufa-date-but-investors-should-n
Despite Thursday's FDA announcement that they'd miss the PDUFA date for Egalet Corp
EGLT 10.15%
, and Friday's sell-off in the stock, the biotech company's top analyst is still very bullish on the stock.
Chiara Russo, Cantor Fitzgerald's Director of Specialty Pharmaceuticals, joined PreMarket Prep on Friday morning to explain her reasoning for seeing upside, and it comes down to the fact that they have great technology and, according to Russo, this is just a case of the FDA being cautious.
Related Link: The FDA Won't Meet PDUFA Goal Date For Egalet's ARYMO ER
"If you look at historically at this point, the FDA has hit a pattern with these opiods coming to market, and it's not a bad thing," said Russo. "It just seems like the process of getting an opiod through the FDA just requires a lot more boxes to be checked. So we're not particularly concerned about the delay. I think they have an exceptional product that they're bringing to the market just in terms of technology. Ultimately we think this is just a temporary delay."
What Egalet Does
Egalet's focus is on abuse-deterrant drugs. ARYMO ER, the drug in question at the FDA, is designed to not be crushed, dissolved, or cooked by abusers.
“Egalet’s technology is called the guardian technology, and what they have managed to do is basically create an incredibly hard pill. And if you get to see it firsthand and play with it, it’s exceptionally hard, like a Lego. It is an exceptionally interesting and simple way to sort of keep the active ingredient in the pill. Their pill has been known to, for instance, break coffee grinders.” said Russo.
Related Link: What is PDUFA?
The Takeaway From Last Night's News
A miss of the PDUFA date, essentially the "go/no-go date for drug approval" as Russo described it, would normally be bad news for a company. In some cases, it signals the FDA is not satisfied with the data they were provided.
But that's not what happened Thursday. The hangup appears to be on the drug's labeling, which Russo said is just the product of them being overly cautious.
She noted that Hysingla was delayed, but ultimately approved, back in 2014. Within the last year Xtampza was also approved after an initial delay.
“This is not anything to get all up in arms about,” Russo said. “The FDA is being overly cautious in approving any opioids that are coming to the market, and that’s a good thing. We like to see that the optics are good. If the FDA is just letting all opioids come through the system, people are probably going to yell at the for it. So, the FDA's being cautious.”
One Problem For The Opiod Space
Russo did note there are a couple of issues that stand in the way of opioid-producing companies like Egalet. For one, she said, there's a lack of doctor education about what options they have available. But more importantly, insurance companies are not willing to pay for them.
"There is this not-so-good disconnect between what the CDC and the FDA and the public in general wants, vs. what insurance companies are trying to pay for. And that in my eyes really sort of is the crux of why the uptick in abuse-deterrant formulations has been sluggish. With insurance, the FDA and CDC and news outlets can all say 'If you're prescribing opioids you should be prescribing an abuse-deterrant formulation.'
However, insurance companies say 'We don't want to pay for it. Use the cheap generic.' And that's sort of the big disconnect here. So until you get the insurance companies on board...it's going to be a slow uptick and uphill battle."
Egalet shares are down 5.3 percent in Friday’s session following the FDA news, but Russo sees the drop as a buying opportunity.
“I have a lot of faith in this product, I have a lot of faith in this management. I think, like I said, this fits the pattern of what the FDA is doing in getting opioids approved through the system, and I think this actually fits a positive pattern,” she concluded
That's dumb
I feel ya. Hard to ride out day to day but I know in my heart it will be worth it.
This is starting to remind me of November 2013. Some of us remember what happened in the coming months.