Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Seems to be many posts incorrectly correcting me.


I say 350 million shares outstanding, and I am corrected with 690 million shares authorized. I say $50M in opioid sales, and I am corrected that it should be $84M. I use $84M, and I am corrected that I didn't give the right context. Nonetheless, it is not unreasonable to say at least $50M was spent on SequestOx development. I previously quoted the 2016 10K:

Research and development costs were $12.4 million, $14.7 million and $4.0 million for the years ended March 31, 2016, 2015 and 2014, respectively, with such costs relating almost entirely to the development of SequestOx™, the first product developed by Elite that incorporates the technology.

That's $30M just to get the CRL. How much was spent after the CRL? Costs included multiple reformulations and bioequivalence studies, including a pivotal BE study. $50M for SequestOx alone stands up. If investors want to determine about how many tens of millions of dollars were wasted on developing methadone, Percocet, Norco, codeine, etc., then have at it. I'm sure even if I adopt those numbers I will be chastised about not providing the right context.