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Elite Pharmaceuticals Inc (OTCMKTS:ELTP) a firm developing abuse-deterrent opioids and niche generic products released financial results for 3Q2015. The consolidated revenue continued upward trend in 3Q, surging to $1.4 million. It increased more than 8% from consolidated revenues recorded in 2Q2015. Although the revenue rose sequentially but still was $0.3 million less than revenue in 3Q2014. The revenue in prior year quarter was higher as company recorded a one-time $0.6 million milestone during that time.

The numbers

Elite Pharmaceuticals reported that revenues for the first three-quarters of FY2015 came at $3.8 million, a jump of 6% over the comparable period. It was a stable performance as the revenue in first three quarters came higher despite one-time milestone revenue recorded last year. The expansion strategies and growth in generic product line resulted in strong revenues.

The strategies

Elite Pharmaceuticals wants to cash on the opportunities offered in the abuse-deterrent opioids technology market. In 3Q the company invested almost $2.3 million in clinical studies and other related R&D activities. The investment surged to $9.9 million in the first three-quarters of FY2015. The investment was inclusive of expenses associated with the liability study for ELI-200. The development activities related to ELI-200 and other opioids candidates are reportedly making good progress.

The performance

Nasrat Hakim, the CEO of Elite Pharmaceuticals Inc (OTCMKTS:ELTP) stated that the company recorded strong financial performance in the quarter. The sequential growth is expected to continue in the coming quarters. The focus will remain on the expansion of generic product line. The company is optimistic on ELI-200 which is its first abuse-deterrent opioid drug candidate. ELI-200 efficacy study will be commenced after the FDA gives feedback on protocol.

In last trading session, Elite Pharmaceuticals stock price surged more than 5% to close at $0.238 with volume of 649,818 compared to average volume of 1.64 million.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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