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Disappointing that the stock is in a 10-12 cent range. Need more news to convince new investors I guess.
They have four business days to file a 8k material news releases. Today was 4th business day after July 3 Perc news.
I believe they must file a 10k with sec announcing the percocet approval tomorrow or tonight under the 4 day requirement.
Thanks for post of cc transcript. Carter Ward stated the earnings are due 45 days after the quarter ends which would be Aug 9. Conference call will be Friday Aug 10.
Eugene's death and the earnings announcements all come out on the DOW. This major news should have made that service. Maybe Dianne knows the answer.
Is there an explanation why the Percocet approval was not published by Dow Jones?
Nas listed the datess for the future earnings announcements on the last conference call. Does anyone recall the future dates of the set schedule?
Strong bid at .11. Looks like stock is ready to break the .12 resistance in the near future. Looking for a new trading range between .12-.14 when that happens.
Up 21.5% in a week seems like a big deal to me. Better gain this week than all the YTD exchanges. Plus lots of new shareholders have jumped in. The call that this stock would be 2 cents seems a bit off me thinks.
Those who can, do. Those who can't, teach. My understanding is that companies that sell shares from treasury do so at a set price below the market with a limitation of a period of time when the buyer is restricted to sell. These shares are not put out on the open market. Good luck to those who are long and strong.
Highly doubtful that company is selling shares here. This is the pause that refreshes. FDA approval establishes that methodology for approval is viable. The next approval will launch this stock to new highs.
The 9M shares that have traded represents a lot of weak hands who were looking for a pop and opportunity to sell. The stock doesn't know or care what you paid. This company is an obvious turn-around and is not a stock to day trade. I'm looking for a move above the .12 cent resistance level and then of a 12-14 cent range before the next news event.
Resistance at .12 Next resistance at .14. Getting ready to be a teenager.
I wonder if Glenmark can sell Percocet in India using the generic approved here. Anyone?
Let's hope it is true that there were shorts on this stock. Busy week covering by those who though it smart to short a penny stock.
Stock is seriously undervalues at these levels. I expect it to become a teenager in the near future. Look for a significant breakout.
Accountants are overly conservative. The distributor's sales reps are the key to revenues.
Agree volume should be strong. Stock has soared convincingly above the 50 and 200 day moving average. Technical alerts coming. The ride has just begun. Buyers of the weak sellers here will be well rewarded.
I expect that the company will announce the name of the distributor for the product. Good chance that Glenmark will be the winner for the Percocet sales. This product is still the favored choice for pain relief after dental or general surgery. Expect at least 50 million revenue for ELITE. Stock is very cheap here and I expect the Street will soon take notice.
I see that Pain Therapeutics has trading halt until the fda meeting is over. Can anyone opine on how a positive or negative meeting effects holders of eltp. Is there technology or drugs competitors?
Over the last 6 months the company has launched 2 significant ANDAs and signed a excellent deal with a major pharma company. This stock is undervalued by 50 percent at this time. I expect a upward price as new investors who become aware of the potential start to buy. Stock looks to be in strong hands after the non believers sold the stock off prior to the conference call. Expect fireworks before the 4th of July.
The company's indication that it plans to make significant expenditures for clinical development and commercialization activities in the near future is definitely a sign that it is forward moving. The only caveat is the status of the SequestOX final trials and deadline to file the new nda before the end of this calendar year.
Investors should be most interested in Nasrat's report on when the company expects to complete the trials as well as the status of any current or future meetings with the FDA. The 40 million equity line with Lincoln Park alleviates any cash problems for the next year.
Still one or two anda approvals from making this a blockbuster.
Agree that the 10K was a non event as expected by those who follow this company.
MMs fooling around today. Pulled bid at .091 level after no takers. Printed phony .095 price and still light action. My guess is that the financials will mirror last quarter results with a slight uptick in sales.
The release states that his death is a "forward Looking" statement. Hmm. RIP Gene.
Regardless of all the side talk, the major event to move the needle will be the approval of one or more of the pending ANDAs. Three generics are now pending for more than 1 year. In descending order they are: Percocet- a year 10 months since filing; Hydrocodone Bitartrate- 1 year 6 months; synthetic narcotic analgesic- 14 months.
Approval of one or more of these drugs in the next 90 days would propel the stock to the mid teens. The ceo should state whether or not the issues addressed in the CRLs have been satisfactorily addressed.
The final major event that could move the stock would be the status of the SeqestOX filing. Company is on the clock for a filing before the end of the year. The company should advise if they are doing a major patient study as a followup to the announce pilot study.
To me the stock is a strong buy here. The trader here who think they can sell on the first move and buy back later may be fooled. The new buyers who come in at a higher level and hold for a 5-10 bagger may make those who trade this stock regret their stragegy.
Long and strong.
Pfizer's Troxyca (Oxycodone/Naltrexone) meets current safety standards with mixed reviews per FDA Advisory committee on June 8. Perhaps our drug "experts" here can weigh in on the results of this meeting and how it affects ELTP. Abuse Deterrent labeling question seems still up in the air. Whatcha all think? I imagine the CEO will discuss this at the upcoming annual meeting.
Good for you. Hopefully more news next week before earnings.
200 day moving average has now been reached. Look for a move to new year to date levels in the near future. Positive Technicals.
Approaching 50 day moving average at .095. Next comes 200 day moving avg. at .099. The train is leaving the station. All Aboard!!
Sungen is advertising for 6 major positions including Regulatory Affairs Associate to deal with FDA filings. Always a good sign when companies are hiring.
Shire manufactures Adderal and Vyvanse with a combined sales of $2.4 Billion in 2017. If they are worried about the generic threat from Elite, they can buy them out. Favorite drug for college kids cramming for tests.
Really?. All I can see that they are based out of India. Do they have a history of buying out drug companies?
This agreement makes Glenmark a distribution candidate for any of the 5 ANDAs currently under FDA review. It also is a potential buyout suitor if they like what they see. Nice to see a major public company take an interest.
Trading pattern indicates that there is there is some sort of redistribution going on. I would not be surprised to see a big move up either today or tomorrow when the trade has been completed. Good Luck
Good find on the status of Troxyca with FDA. How will ELTP be affected by the June 8 up/down vote for the drug's efficacy as a opioid abuse deterrent.
TIA. Anyone?
A hear ELTP is coming out with a NDA for those suffering from Schadenfreude.
There is a strategy to short a OTC stock when you have stock options at a lower price that vest sometime in the future. By shorting you lock in the price above the strike price for the option. In this case it might apply to the big corporate investor here.
321,000 shares on the offer. Someone is losing faith or perhaps going short at this level.
Sellers appear to be few and far between. Looking for a big move soon.
The sad thing is that many long timers who are in at higher levels, may sell at, let's say .15, to a newbie. The buyer watches the price go to .60, a 4 bagger, while the seller is just bagged. Those who dick around for a fraction of a penny buy, often miss the boat. A rise in stock volume will be the tip off of a upward move.