I heartily disagree with the assessment that the CC was disappointing. I was particularly happy with the manner in which Nasrat laid out the process of drug development and a clear path in the next two years of developing, filing, and getting approved 4 drugs each year. I also liked the reference to Mikah and Nasrat saying the SunGen portfolio would be available and he thought Elite would have the money to buy it in the second half of 2022 (if we see cries of self-enrichment with any such deal, please do the math - Nasrat benefits himself far more with Elite than with Mikah; I know I have done the math). The financial position of the company will further the development timeline because the company has the money to pay for it rather than having to resort to dilution, which had become impossible under the former LPC agreement that required the p/s to be 10 cents or more (and that alone should make clear the manipulative effort to prevent Elite's development).
Remember, all this with little debt means that what we heard combined with what we know (the nexus of events in late 2023) means Elite will be positioned where many of us thought it would be five years ago. And that should make clear of the strategic turnaround of the company.
One more thing...Much has been said about Elite's selling its pain meds, though retaining the value enhancing ADT. Smart and strategic move. However, let's do a little comparison with Collegium, a company that received FDA approval in April 2016 for an XR opioid and was able to avoid the food effect that led to Elite's CRL. I have looked at COLL and I know others have, thinking what might have been for Elite. COLL generated more than $310 M in revenues last FY and many Elite investors are envious. But, what about its p/s evolution? Interesting as to that...COLL IPO'd at $12. It is currently $22.50 and it has never been higher than $26.80 (if keeping score, at peak that is a 2.23X and currently 1.88X...not exactly crushing it). Relatedly, the discussion we heard from Nasrat on the last CC tells us - if we paid attention - that the future for Elite will see revenues that exceed COLL's and Elite's p/s will be a multiple of it's current p/s and far and away exceed the multiple of COLL.
AI
