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Least time I checked that was the day after the cc. At the cc, CEO didn’t know final results and nothing has been communicated since.
Nothing has been divulged on BE results.
I believe Oxy is one of the 3 needlemovers
Kirko from sales
Schwab is significantly inferior to TD. Looking for a better platform.
Growing single digits isn’t going to get stock anywhere. Prasco will shake things up a bit with 2 larger ANDAs. We don’t know when last one will be filed yet. 2 smaller filings awaiting FDA approval now are non-news worthy. It rose on Prasco deal future growth news. I think there’s enough in pipeline and with Kirko driving sales that we can actually get consistent sequential growth. Would like to potentially see Kirko take over as CEO and keep Nasrat as chairman down road.
Maybe he thinks your birthdate is 2010. 😳
Really sad part is that the CEO communicated little north of 7M on last business day of quarter. He should have known exactly what sales were. Good thing there are no analysts covering this stock yet as they would have torn him a new one. That’s not underpromising and overdelivering. That’s either a statement of incompetence, not being as close to financials as he should be, or really crappy software. Take your pick.
We know FY24’s top line was to be at 40M and then now “north of $40M”. With Prasco AG deal starting 1/1 + newly minted relationships, let’s see them push this much higher.
You’d see the cash impact and it would be called out in financials. Can’t hide a transaction like that.
Lol I’m glad you like the drivel. Glad to hear someone reads it and enjoys it.
Did you actually read the article instead of insinuating? The use of AI for article writing is not quite where it needs to be to go mainstream and yet how many get suckered in believing everything they read on the internet. Those are the chaps I feel sorry for.
Strong Q2 results heading into Tuesday’s cc? What a bunch of crap. AI really sucks.
Completely agree with your comments. Yet on the flip side Bitcoin is worthless and yet trading for 30K? It’s in the eye of the buyer/seller to determine worth. I wouldn’t touch bitcoin with a 10 foot pole and yet others love trading it.
Nice to see the pub. Also says it polled 1 analyst for a “buy” rating. There are no analysts that cover elite. Guessing they are counting CNN’s AI as an analyst.
Some were far lower than that.
Buyback programs are always beneficial when grants and warrants are used. We may have a small period when we don’t incur either. As long as the intrinsic value is higher than market price, the buyback works in the company’s favor. You can always suspend a buyback program.
Agree + Covid did no favors for R&D. Was years of frustration. There were plenty of fumbles along the way by management, but with real growth those issues become harder to see.
The one thing that stood out for me on the call was his tone towards a stock repurchase. I wanted a $1M initial repurchase to help clean up excess float. Normally repurchase programs are multi-year deals. I think this is where his mind is going. Prasco AG wasn’t in the works previously and that cash flow generation will be a nice tailwind for both R&D and a nominal buyback.
I’d say we’re building a solid foundation with potential for growth after years of dilution to finally break even. It’s been a long ride. I can finally see that there are exciting days ahead. Last cc was a game changer. Still lots of unknowns, but company is finally making good strides forward vs 2 steps forward, 2 steps back maneuvers.
This is a penny stock, not Berkshire Hathaway.
Great to see out of the gate. Stronger volume than I expected. Would love to see the BE news to keep momentum going.
Huh?
Look at the volume traded throughout the morning vs afternoon. History is only a guide, not a tell all.
Volume was dying down yesterday afternoon. Wouldn’t be surprised if there was pullback if no news on BE.
Not an issue. Hedge funds don’t own any shares. Funds would have to disclose ownership.
I believe Epic also had debt, which would have been factored in and would work in Elite’s favor (virtually debt free near-term). Hoping they clean up capital structure over next couple of years with a little excess cash.
I don’t play in the DEA space, but believe it is Elite showing the demand to DEA and getting allotment. Would love to hear from someone who is actually close to this.
Prasco has history as AG, but is simply switching to Elite as Mfr. I would think that historic volume of sales would be leverage to get quota aligned with historic levels from old mfr.
Curious what impact to margin or profit share will be as AG should be little higher in price. I’m curious how different the recipe & process is for AG vs their standard generic XR product. I don’t think it’s the exact same. Generic has same active ingredients as brand, but I think AG has to have everything be exact as brand so I’d expect a different cost profile too.
Go back and read. This time, slowly. There is no discounting of new Adderall AG deal. I’m thrilled at the new opportunity and relationship with Prasco.
The deal for Loxapine barely had any time to be executed.
Prasco/Burel deal in past didn’t add any financial value. Eager for Elite to get foot in AG space. Interesting.
Prasco insights - have owned Adderall ER AG since 2016. Bought rights from Teva back in 2016.
“As the leader in the Authorized Generics business, Prasco has now brought more than 75 AG products to market since 2004 and has more AG partners than any other company in the U.S. Authorized Generic products can benefit multiple members of the marketplace by helping enhance access to treatment options.”
No one is making fun of me. I could care less anyways. Are you 5 or 6?
CEO doesn’t have enough Wall Street experience to realize that any significant divergence from what you say, good or bad, ruins credibility. If you are going to diverge from what was previously communicated (When he should have already known close to final revs is hilarious) it is to be communicated before results. That’s a solid IR strategy where many leaders fail. It was a pleasant surprise to the upside for a change, but a ridiculous one at that. You want to trust what your leaders say and then watch them do it in results.
“When in March, the customer awards commitments began coming in, we are making batches for Lannett and we still managed to launch our products on April 1st. April 1st through June, it's my rough estimation that this is going to be a dip quarter, it's going to be a low quarter. It's going to be in the $7 million range in revenues.”
- Nasrat Hakim, Year End call when quarter was basically completed.
Large firms and funds that hold = price stability, but only if LT holders. Plenty of larger firms that churn holdings or are notorious short sellers. Price will stabilize with time, but should still expect plenty of volatility ahead.
Hey camel vagina - was thrilled to hear they finally went interim solution route. As mentioned before, if they didn’t hire consultants they would have had to delay the filing. I’m ecstatic that they didn’t. Solid call all around. Don’t think oxy is anywhere near a slam dunk though.
I listened to call during flight home late last night. Probably Elite’s best call ever. They answered most of my questions, a couple I tried pushing the envelope for more insights, but were not answered or couple questions he liked, but didn’t answer to extent I was hoping. Very happy with call overall. Good potential with upcoming BE timing response and financial consultants brought on to take place of CFO. That was my biggest concern, which allowed the timely filing.
Awesome news on auth generic supplier as of 1/1/24. Nothing mentioned of Dexcel.
I don’t think oxy, even if approved, would be fully approved straight up. We are expecting REMS at bare minimum, so could be a tentative FDA approval if do X, Y & Z, which will take time layered on Purdue legal hurdles. If we are first to fully file, that would indeed be huge news.
Psst. I’ll let you in on a secret. Here is another reason why Elite’s stock is so low. Growth stocks are compared Y/Y and Q/Q. That is what investors look for - continuous sequential growth.
In addition, Q/Q shows latest business comparison with last Q with Lannett and first flying solo. Can’t find a better comparison than that. LY may include contacts that they don’t have anymore or simply different business. It’s older data.
Just don’t tell anyone. They might think you’re on to something.
That’s because they just got a $4M loan. They are investing in production, but don’t ignore the loan.
Check out Q/Q. That would be best comparison to performance right before and after Lannett.
Close to $3M cash burn, which is $3M of $4M loan received. Good thing is that as of filing, 2nd year of loans isn’t expected, but things do change. Hope we see that cash inflow start hitting Q2.
Where is margin improvement from flying solo? Does not exist.
Day of filing is cutoff.