The stock price in the case of LCI reflects investors concerns about their debt load. They are selling assets and have restructured some debt, but their long term debt is a problem. Nasrat recognizes their inability to manage their debt could lead to a Chapter 11 restructuring and it often results in cutting assets that could affect the commercialization of Elite's products. Further, Elite's products could be hampered by LCI getting their own IR & XR approved, as LCI would recognize their own products are more profitable than sharing the profits with a partner. In fact, related to costs, LCI could do its own manufacturing for its products. And that effectively ends any value of the partnership for Elite.
If I were a betting person, I would expect Elite to find a new partner. As a business person, I think Nasrat should find another partnership.