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I think Nasrat foresaw the low penetration of Adderall, which is why he’s not providing an outlook. He gave pie in the sky comments of “if we only had 10% of the market”, but that’s not a forecast and should have stated “if we only had 2 or 3% of the market...”, but then investors wouldn’t be too happy about that.
Then I would trust those comments until you have reason to believe otherwise.
Revenue materiality - this is a super tiny ANDA with a total market of only $5M with several competitors. I can see them not doing a PR for this one. Not exactly a reason to celebrate, but little Loxapine will being in more revenue than the millions and millions spent on SequestOx and opioid line.
They can file an 8K, but I don’t think they will. They have used 10Q’s and K’s to report a CRL and think they did this as well with a previous launch that didn’t bring in any rev. It’s been a mixed bag.
They could announce Loxapine launch in a couple months and it would be a subsequent event in the 10K. With Loxapine being so small with several competitors, it’s probably doesn’t meet the materiality threshold to be a material event.
What other Methadone manufacturers have gotten into trouble?
Managing risk is critical for every organization. Trying to manage a company to a zero risk level is completely illogical and unbecoming of any CEO, unless they are a lawyer.
All 250K of it?
We used to contract manufacture Methadone and Nasrat spoke ill of it at the time when we lost the contract and filed our own ANDA due as there will be margin erosion, but in this stage, we simply need more profit dollars.
Agreed. The CFP is nice. Progress isn’t going nearly as fast as precious pictures have been painted, but the company is progressing nonetheless. Hopefully it will continue to be the case, but oftentimes things will get worse before they get better.
That wouldn’t be considered a buyback. If Mikah owns more then 5% they would need to submit an SEC Reg 13D filing.
I’m sure Loxapine competitors are freaking out.
Buy backs must be approved by the BOD and communicated to shareholders prior to any implementation. With recent sequential declining revenues I am sure a buyback is furthest thing from their mind. I am hoping they don’t tap into LPC and can stay CFP.
Who still charges broker fees?
How many times per year do they provide an intraquarter update? That should lead you to the expectation to not expect it.
Plus, he has been clear opioids are off the table for now.
Didn’t Nasrat say it would take about $20M to run the tests needed?
Not sure I’d expect an update prior to the YE conf call at the end of June/beg of July. We’ll be entering next week the 3-month waiting period until the K is filed.
I think they have launched a product in the past without a PR. It was confirmed after the fact in the 10Q for the reporting period. I believe all others have been PR’d though.
Gotta love the MM games. Pre-market dropping it to a nickel flat.
Hands down, profitability is a great start and huge accomplishment for the company. I think what concerns shareholders is the revenue is barely moving for the large markets that were in. These things do take time, but the picture being painted by the CEO doesn’t and hasn’t ever equaled reality - we can all credit safe harbor regulation for that one.
And yet R&D spend has continued quarter after quarter.
I think he is shooting for taking Elite private as soon as he has enough ownership. At that point, he’ll push for significant investment & growth when retail shareholders are out of the picture.
Every word of the Safe Harbor that is read is there for a legal reason. Listen to each conference call in the very beginning. It’s been there and serves as protection to management.
What is BS is thinking Diane can do anything about your concern.
On a positive note, it took 7 years for the company to get CFP. If sales don’t continue to sequentially deteriorate, that will continue allowing incremental investment. 7 years is a long time, but we are there. It will take several more years for the company to really start cooking assuming their portfolio strategy v4.0 will work out.
Welcome to being a retail shareholder. Retail shareholders bring nothing of value to the senior team except lots of griping and whining. Welcome to reality.
Didn’t they have to restate financials not once, but twice due to some creative accounting?
Weeks away from dollar land? Do tell. Several years away, at best.
From several years ago
And much poorer one could add. Lol
I see some things never change. I don’t think any apology is or will be necessary.
No major players are buying.
We also know that a “few weeks” according to Nasrat can mean ~12. Now we have a few months of silence other than tiny Loxapine until the 10K and next cc.
You mean a $5M Loxapine launch with 4 competitors doesn’t matter?How about a promise of dollar land years ago? How about having to restart R&D pipeline yet once again? Revolving door of partners - Epic, Dr Reddy, Sungen, who is next? Even if we get 10% of Adderall market...so many unexecuted strategies. Adderall ER is barely hanging on by a thread. Penetration in market is teensy and has only become more tiny over the past year as sales aren’t sequentially increasing - clearly not a growth stock. But they are CFP, which is a start, knowing that if the stock price increases the dilution train will start once again.
If only that were the entire truth. Tell your story to the hundreds and hundreds of millions of shares that were diluted to fund SequestOx and the opioid pursuit. Epic paid for part of the funding, Elite diluted away the company and then sold off the opioid line with a tail between its legs. Tiny Elite was spending more on opioid abuse than anyone else in the industry, once again only partially funded by Epic. Epic was bought out in the end. Looks like Epic was wise and knew when to pull the plug on SequestOx tech when limiting the funding. Elite management learned the hard way of throwing money after sunk costs.
What happened the last time Nasrat sent us down a rabbit hole after spending the most on ADT tech by far compared to others in the industry? FDA rejected and 0 revenue. 0 return for shareholders.
Here we go for round 2 down another rabbit hole...
That is the most nonsensical argument I may have ever heard. People buy Adderall due to a physical ailment. Elite is simply not filling that need as has been clear with 2 sequential quarters dropping in revenue. The sad thing is, these revenue amounts to begin with are incredibly small in a huge market. Just going to be untapped by Elite and Lannett.
Last time I checked, Adderall is sold all throughout the year, not just at Christmastime. However, sales have been dropping sequentially, which is how high growth companies are measured. Welcome to how Wall Street analysts will look whether Elite is really a growth company.
20% growth over a small number...is still a small number, which is why sequential growth is so critical for the numbers to reach meaningful levels.
I was shocked when he said this as the CEO is always on earnings calls, unless he knows full well a merger will be required to upgrade to an exchange and he will be bought out and no longer at Elite. Sounding much more likely.
None of my questions are ever directly asked or they may be slightly touched upon in topic, but not a response. This will go away if/when live conference calls return, which should happen once they upgrade to an exchange.