09/02/2018 21:57:39

Elite Pharmaceuticals, Inc. Reports Financial Results for the Third Quarter of Fiscal Year 2018 Ended December 31, 2017

NORTHVALE, N.J., Feb. 09, 2018 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. ("Elite" or the “Company") (OTCBB:ELTP), a specialty pharmaceutical company developing abuse-deterrent opioids and niche generic products, announced results for the third quarter of fiscal year 2018 ended December 31, 2017 (“Third Quarter”).

Consolidated revenues for the third quarter were $2.5 million, an increase of $0.2 million or approximately 9% from the comparable period in the prior year. The increase in revenue is primarily attributable  to growth across Elite’s generic product lines.  Elite continued to invest heavily in product developmentwhich resulted in the positive outcome in a pilot study conducted on SequestOX™ and, in February, the filing of an ANDA for the first product being co-developed with SunGen Pharma.

Conference Call Information

Elite's management will host a conference call to discuss the third quarter financial results for fiscal year 2018 ended December 31st and provide an update on recent business developments. Stockholder questions should be submitted to the company in advance of the call.

Date: Monday, February 12, 2018
Time: 11:30 AM EST
Dial-in numbers: 1-800-346-7359 (domestic)
 1-973-528-0008 (international)
Conference number: 98840
Questions:

dianne@elitepharma.com  by 8:00 PM EST on Friday, February 9, 2018

Audio Replay: 

http://ir.elitepharma.com/events_presentations

The financial statements can be viewed for Elite’s Third Quarter 2018 on Form 10-Q at http://ir.elitepharma.com/sec_filings.

About Elite Pharmaceuticals, Inc.

Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company which is developing a pipeline of proprietary pharmacological abuse deterrent opioid products as well as niche generic products.  Elite specializes in oral sustained and controlled release drug products which have high barriers to entry.  Elite owns generic and OTC products which have been licensed to TAGI Pharma, Epic Pharma, Dr. Reddy’s Laboratories and Valeant Pharmaceuticals International.  Elite currently has nine commercial products being sold, five products filed with the FDA, additional approved products pending manufacturing site transfer and the NDA filing for SequestOx™.  Elite’s lead pipeline products include abuse-deterrent opioids which utilize the Company’s patented proprietary technology and a once-daily opioid.  These products include sustained release oral formulations of opioids for the treatment of chronic pain. These formulations are intended to address two major limitations of existing oral opioids: the provision of consistent relief of baseline pain levels and deterrence of potential opioid abuse.  Elite also provides contract manufacturing for Ascend Laboratories (a subsidiary of Alkem Laboratories Ltd.). Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. Learn more at www.elitepharma.com.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Including those related to the effects, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this press release, readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, Elite’s ability to obtain FDA approval of the transfers of the ANDAs or the timing of such approval process, delays, uncertainties, inability to obtain necessary ingredients and other factors not under the control of Elite, which may cause actual results, performance or achievements of Elite to be materially different from the results, performance or other expectations that may be implied by these forward-looking statements. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of SequestOx™ by the FDA, and the actions the FDA require of Elite in order to obtain approval of the NDA. These forward-looking statements are not guarantees of future action or performance. These risks and other factors, including, without limitation, Elite’s ability to obtain sufficient funding under the LPC Agreement or from other sources, the timing or results of pending and future clinical trials, regulatory reviews and approvals by the Food and Drug Administration and other regulatory authorities and intellectual property protections and defenses, are discussed in Elite's filings with the Securities and Exchange Commission, including its reports on forms 10-K, 10-Q and 8-K. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Elite Pharmaceuticals, Inc.

Dianne Will, Investor Relations 

518-398-6222

Dianne@elitepharma.com

Primary Logo

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
24 May
PNDORA
Carnegie vil have en kurs på 400 svarende til at Pandora kan købes for 44 mia. kr.  imellemtiden kom..
28
21 May
PNDORA
Hej Enkommentar,   Du skrev i en besked i går til en anden debatør, om hvad det var i Pandora's regn..
23
22 May
 
Som formentlig en del andre har jeg i løbet af 2018 læst en del om en snarlig nedtur i aktier. Og j..
16
21 May
PNDORA
Sludder Michael. At Pandora kom med et mindre heldigt regnskab berettiger slet slet ikke det massiv..
16
25 May
PNDORA
Pandora har fået meget omtale allerede, så denne tråd er rent teknisk, nemlig, at der nu er flere de..
15
23 May
VELO
Hej Alle,   Jeg har prøvet at skabe mig et lille overblik over 2018 med udgangspunkt i væksten i 17 ..
14
21 May
PNDORA
Fedt at bruge Dominick Beskos, han har om noget haft evner til at forudsige markedet. Man kan sige, ..
14
23 May
PNDORA
Jeg startede med at købe op i Pandora i april 2017, and har købt op hele vejen ned derfra med en sni..
12
26 May
ZEAL
Beta Bionics har fået FDA's godkendelse til at bruge deres kunstige bugspytkirtle device til hjemmeb..
11
24 May
BAVA
Der er dialog med WHO om at bruge Janssen/Bavarians produkt ved Ebola..
10

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Youtuber Crypto Crow Inks Deal With TUFF TV to Air New Series to Over 40 Million Homes Beginning First Week of June
2
BODY GLOBE BODY ARMOR® RECEIVES NOTICE OF ALLOWANCE (NOA) NOTICE FROM THE UNITED STATES PATENT AND TRADEMARK OFFICE (USPTO) HOVERINK BIOTECHNOLOGIES ANNOUNCES.
3
CAST Raises $12.5 Million for Growth Acceleration
4
SHAREHOLDER ALERT: Pomerantz Law Reminds Shareholders with Losses on their Investment in InnerWorkings, Inc. of Class Action Lawsuit and Upcoming Deadline – INWK
5
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Synacor, Inc. of Class Action Lawsuit and Upcoming Deadline – SYNC

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
27 May 2018 00:25:03
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180525.2 - EUROWEB2 - 2018-05-27 01:25:03 - 2018-05-27 00:25:03 - 1000 - Website: OKAY