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Partnership in product development (ART - NDAs ) - Nasrat's 1 of 3 pronged approach...
"A few years ago, we shifted the company’s focus and we created a three-pronged approach. The three basket approach. One is the NDAs and the AR technology. Two is partnerships in order to elevate cost and bring in ideas and three is our own product."
https://www.insidermonkey.com/blog/elite-pharmaceuticals-inc-pnkeltp-q3-2024-earnings-call-transcript-1259859/4/
The thing is it's up to us, true longs, to stop this nonsense. Enough is enough. Fight!!!...fight!!!
Parties are requesting for an extension of the temporary "stay". Must be good sign? :) To note: Purdue's counsel made the filing.
"Letter from Wayne Fang, on behalf of all parties, requesting an extension of the temporary stay re21 Stipulation and Order.(FANG, WAYNE)"
Elite Pharmaceuticals (otcqb: ELTP) - market OUTPERFORM recommendation Coverage!
https://www.zacks.com/stock/news/2300922/zacks-initiates-coverage-of-elite-pharmaceuticals-with-outperform-recommendation?art_rec=quote-stock_overview-zacks_news-ID02-txt-2300922
Elite Pharmaceuticals - Market OUTPERFORM Recommendation Coverage!
https://www.zacks.com/stock/news/2300922/zacks-initiates-coverage-of-elite-pharmaceuticals-with-outperform-recommendation?art_rec=quote-stock_overview-zacks_news-ID02-txt-2300922
Elite Pharmaceuticals - Market OUTPERFORM Recommendation Coverage!
https://www.zacks.com/stock/news/2300922/zacks-initiates-coverage-of-elite-pharmaceuticals-with-outperform-recommendation?art_rec=quote-stock_overview-zacks_news-ID02-txt-2300922
Elite Pharmaceuticals - Market OUTPERFORM Recommendation Coverage!
https://www.zacks.com/stock/news/2300922/zacks-initiates-coverage-of-elite-pharmaceuticals-with-outperform-recommendation?art_rec=quote-stock_overview-zacks_news-ID02-txt-2300922
Good exposure! Nice find. Thanks!
FWIW Found this buyout price analysis posted yesterday on reddit
https://www.reddit.com/r/pennystocks/comments/1e0emqj/eltp_analysis_of_buyout_price_edited_to_fix_math/
You claim to have millions of shares (nah!), yet keep on mentioning previous "gap" that needs to be filled. Is this your modus operandi ?- create a gap to come back to it later? You may as well change the profile name into "Gappy"? Enough of your BS already!!!
Good find. Thanks!
I hope this article goes viral big time! Creating awareness to Naltrexone. Good find. Thanks!
Elite now has total 85,000 square feet of operational floor space. Nice! speaking of "EXPANSION"
Elite Pharmaceuticals' (ELTP) FY24 Earnings Up, Gross Margin Down
Elite Pharmaceuticals, Inc. (ELTP Quick QuoteELTP - Free Report) delivered earnings per share (EPS) of 2 cents in fiscal 2024 compared with break-even EPS at the fiscal 2023-end.
Revenues in Detail
Elite Pharmaceuticals registered revenues of $56.6 million in fiscal 2024, up 65.8% from the comparable fiscal 2023 period. primarily resulted from robust revenues from Manufacturing fees.
Segment Details
Elite Pharmaceuticals’ derives revenues from two sources — Manufacturing fees and Licensing fees.
In fiscal 2024, revenues from Manufacturing fees were $54.1 million, up 85.4% from the fiscal 2023-end. This primarily resulted from the launch of the Elite label during the current fiscal year, which achieved increased sales for the year ended Mar 31, 2024, compared with the prior fiscal year, which did not include any sales of Elite label products.
Revenues in the Licensing fees segment totaled $2.5 million in fiscal 2024, down 49.6% from fiscal 2023. The decrease was primarily due to the expiration of the marketing alliance agreements between the company and Lannett Company, Inc. (the Lannett Agreements) on Mar 31, 2023.
The revenue streams that were generated during periods ending on or prior to Mar 31, 2023, and attributed to the Lannett Agreements included profit splits on the sale by Lannett of Amphetamine IR and Amphetamine ER. Since Apr 1, 2023, these products have been sold by Elite Pharmaceuticals under its label, with revenues being recorded as manufacturing revenues instead of licensing fees....
https://www.zacks.com/stock/news/2296264/elite-pharmaceuticals-eltp-fy24-earnings-up-gross-margin-down#:~:text=Elite%20Pharmaceuticals'%20Gross%20Margin,the%20comparable%20fiscal%202023%20period.
Although I don't agree with the statement highlighted in blue and some parts, its somewhat okay to get a news from other media source.
This Registration Statement on Form S-8 (“Registration Statement”) is being filed by Elite Pharmaceuticals, Inc., a Nevada corporation (the “Company”), for the purpose of registering an additional 12,730,000 shares of the Company’s common stock, par value $0.001 per share (“Common Stock”) that were added to the shares authorized for issuance under the Elite Pharmaceuticals, Inc. Restated 2014 Equity Incentive Plan (“Equity Incentive Plan”) for which a Registration Statement on Form S-8 relating to the same employee benefit plan is effective. Pursuant to General Instruction E to Form S-8, with respect to the Equity Incentive Plan, the contents of the Registration Statement on Form S-8 (File No. 333-197694) on July 29, 2014 is incorporated herein by reference except to the extent supplemented, amended or superseded by the information set forth herein. Only those items of Form S-8 containing new information not contained in the earlier registration statements are presented herein.
https://www.sec.gov/Archives/edgar/data/1053369/000149315224025859/forms-8.htm
During the years ended March 31, 2024 and 2023, the Company issued 54,358,027 and 2,633,093 shares of Common Stock, respectively, as payment in directors fees, salaries, and consulting fees
I'm hoping before market opens this time. Thanks!
Are we expecting ER' release before or after market? It didn't state in the pr as it used to.
Silence? Where's the excitement for tomorrow's ER? We need to be at least in #2 "Most Read". It happened last week right? just saying... :)
Oh wow! You just made my prediction too low but wholeheartedly accept if I'm wrong and looking forward to your analysis being proven right. Kudos to you sir!
You claim to have millions of shares ( ??? ) and yet kept on mentioning previous "gap" that didn't fill. Is this your modus operandi - create a gap to come back to it later? Enough of this BS trader-antics already.
20's on sight :)!
500 K on deck! Accumulation mode...
Funny the first reaction is "sold" without considering the other way around. If a buyer placed a limit order to buy above the current Asking price and gets filled that's a "buy" transaction.
I wonder what happened to the bidder for 500k shares yesterday sitting the entire session unfilled. Not seeing it today.
It will be forwarded to Dianne. We'll see what happens. I encourage everyone especially long time investors to do the same. Thanks!
Nice grabbed. Congrats!
Whoa!!! Getting closer to 5% of OS (51 Million shares)? :)
Haha... I see this post nothing but desperation but hey how do you feel getting these FDA approved drugs back to Elite? Seriously!
For ONLY $900,000.00 in cash, Elite gets generic Norco® (Hydrocodone Bitartrate and Acetaminophen tablets, USP CII), generic Percocet® (Oxycodone Hydrochloride and Acetaminophen, USP CII), and generic Dolophine® (Methadone Hydrochloride tablets), each a “Product”, and (ii) grant to the Company a royalty-free, non-exclusive perpetual license to use the manufacturing technology, proprietary information, processes, techniques, protocols, methods, know-how, and improvements necessary or used to manufacture each Product in accordance with the applicable ANDA.
This is indeed a fantastic news!!!
Elite and Purdue's 6 month stay period has past. Update soon?
Going back.... before Epic Pharma was acquired by Humanwell / Puramed in 2016, Its investment arm Epic Investment, LLc held nearly 80 Million common shares of Elite Pharma which were distributed to 3 Epic Pharma executives. Ever wonder if these individuals still holding their respective shares considering their close ties with Nasrat? They made Million$$$ when Epic Pharma was acquired. Any thoughts? TIA
https://www.sec.gov/Archives/edgar/data/1053369/000114420415073658/v428180_sc13da.htm
... and McKesson is one of Elite's new distribution partners since the Sales & Marketing platform is launched in April 2023.
"Elite has developed a new customer relationship with at least 27 companies including Cardinal Health, CVS, Walgreens, Myers, Publix, and McKesson" -- as of 1Q fiscal year 2024 ended June 30, 2023.
I'm going for $57,215,000 thank you!
Can't get access to Elite's website but this link ( https://elite.irpass.com/events_presentations ) will let you in except you can navigate partially. Any comp-sci tech savvy here have any idea what is causing this problem? Did anyone try to contact Dianne earlier? TIA
New 8-K filed:
Elite Pharmaceuticals Inc. (the “Company”) was notified by Mazars USA LLP (“Mazars USA”), the Company’s independent registered public accounting firm, that Mazars USA had entered into a transaction with Forvis, LLP, on June 1, 2024, the result of which is that substantially all of the partners and employees of Mazars USA have joined Forvis, LLP, and Forvis, LLP has changed its name to Forvis Mazars, LLP (“Forvis Mazars”). Therefore, Mazars USA effectively resigned as the Company’s independent registered public accounting firm and Forvis Mazars now serves as the Company’s independent registered public accounting firm, as recommended by the Company’s Audit Committee and approved by the Company’s Board of Directors, effective June 1, 2024.
Honest to God who put up that 565K shares for sale? It's okay to admit it as being understandable. Just checking its not a spoofing tactic by a MM. Thanks!