Todor Pichurov

Elite Pharmaceuticals Inc (OTCMKTS:ELTP) Holds Its Gains

by Todor Pichurov October 26, 2015

After a double-digit price spike last Wednesday, Elite Pharmaceuticals Inc (OTCMKTS:ELTP, ELTP message board) seems determined to hold its ground. On Friday the stock closed another 3% up, at $0.244 per share, after trading above average volume of 1.1 million shares.

ELTP dropped a press release last week, which was the trigger for the 11% green move on Wednesday. The company announced logging “positive top-line” results from its phase 3 pivotal trials for its opioid abuse-deterrent product, ELI-200, intended to treat moderate to severe pain.

The report states that there is evidence of statistical significance of real pain relief when comparing groups taking ELI-200 and placebos. The release wrapped up with an announcement of company plans to launch a new drug application with the FDA by the end of 2015.

Outside of this bit of news, ELTP has been quiet when it comes to both new filings and other news releases. The latest report came in August and covered the three months ended June 2015. Here is the brief version of the balance sheet of the 10-Q:

  • $11.6 million in cash
  • $3.3 million in current liabilities
  • $7.0 million in quarterly revenues
  • $2.5 million in income from operations

The company's bottom line is inflated dramatically by a positive $13 million in change of fair value of derivative liabilities, but even without it, ELTP actually clocked a seven-digit figure in income from operations.

This report was followed by a couple of Form 4 filings, but neither of them contains anything worth fussing over. ELTP's next report is due sometime in mid-November.

Comments 5

1. Guest
October 26, 2015, 06:31PM

Quotes That is one ugly woman

2. Guest
October 26, 2015, 05:08PM

Quotes They need to get their facts straight.

3. Guest
October 26, 2015, 04:02PM

Quotes Todor Pichurov needs to support the statement his makes: The company's bottom line is inflated dramatically by a positive $13 million in change of fair value of derivative liabilities...

Otherwise, it comes across as a biased rant

4. Guest
October 26, 2015, 12:10PM

Quotes It's won't be corrected... this is a bogus Bulgarian rag that is likely paid for by Pfizer or Purdue. Friggin' joke.

5. Guest
October 26, 2015, 11:12AM

Quotes Need to correct this:

"The release wrapped up with an announcement of company plans to launch a new drug application with the FDA by the end of 2016."

They will file NDA by end of 2015.

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