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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D)
OF
THE SECURITIES EXCHANGE ACT OF 1934
February
14, 2024
Date
of Report (Date of earliest event reported)
ELITE PHARMACEUTICALS, INC.
(Exact
name of registrant as specified in its charter)
Nevada |
|
001-15697 |
|
22-3542636 |
(State
or other jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
incorporation) |
|
File
Number) |
|
Identification
No.) |
165
Ludlow Avenue, Northvale, New Jersey 07647
(Address
of principal executive offices)
(201)
750-2646
(Registrant’s
telephone number, including area code)
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.001 per share |
|
ELTP |
|
OTCQB |
Item
2.02. Results of Operations and Financial Condition.
On
February 14, 2024, Elite Pharmaceuticals, Inc. (“Elite” or the “Company”) filed its quarterly report on Form
10-Q for the quarter ended December 31, 2023, and thereafter, issued a press release announcing its financial results for that quarter.
A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
As
noted in the press release, the Company will host a conference call at 11:30 AM Eastern Standard Time (EST) on Thursday, February 15,
2024, to provide a general business update. Elite will respond to various stockholder questions submitted prior to the call.
Conference
Call Information
Date:
|
February
15, 2024 |
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 |
|
Financial questions by 7:00 PM EST on Wednesday, February 14, 2024 |
Audio
Replay: |
https://elite.irpass.com/events_presentations |
Item
7.01 Regulation FD Disclosure.
The
information disclosed in Item 2.02 above is incorporated into this Item 7.01. The information included in this Current Report on Form
8-K (including the exhibit hereto) is being furnished under Item 2.02, “Results of Operations and Financial Condition,” Item
7.01, “Regulation FD Disclosure” and Item 9.01 “Financial Statements and Exhibits” of Form 8-K. As such, the
information (including the exhibit) herein shall not be deemed to be “filed” for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall
it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general
incorporation language in such filing, except as shall be expressly set forth by specific reference in such a filing. This Current Report
(including the exhibit hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely
to satisfy the requirements of Regulation FD.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
February 14, 2024 |
ELITE
PHARMACEUTICALS, INC. |
|
|
|
By: |
/s/
Nasrat Hakim |
|
|
Nasrat
Hakim, President and CEO |
Exhibit
99.1
Elite
Pharmaceuticals, Inc. Reports Financial Results for Third Quarter of Fiscal Year 2024
ended December 31, 2023 and Provides
Conference Call Information
Conference
Call Scheduled for Thursday, February 15 at 11:30 AM EST
Northvale,
NJ – February 14, 2024: Elite Pharmaceuticals, Inc. (“Elite” or the “Company”) (OTCBB: ELTP), a specialty
pharmaceutical company engaged in the development, manufacture, and distribution of niche generic products, announced results for the
third quarter of fiscal year 2024 ended December 31, 2023 (“Third Quarter”).
Consolidated
revenues for the three-month period ended December 31, 2023, were $15.5 million, an increase of $6.3 million or 68% as compared to the
comparable period of the prior fiscal year. Operating profits were $3.5 million, an increase of $1.6 million or 80% from the comparable
period of the prior year. The increase in operating profits was primarily attributed to increased revenues achieved from the sale of
Elite Laboratories label products, which were launched during the current fiscal.
Conference
Call Information
Elite’s
management will host a conference call to discuss the Third Quarter financial results and provide an update on recent business developments.
Stockholder questions should be submitted to the company in advance of the call.
Date:
|
February
15, 2024 |
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
Financial questions by 7:00 PM EST on Wednesday, February 14, 2024 |
Audio
Replay: |
https://elite.irpass.com/events_presentations |
The
financial statements can be viewed for Elite’s Second Quarter of Fiscal Year 2024 on Form 10-Q here.
About
Elite Pharmaceuticals, Inc.
Elite
Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops, manufactures, and distributes niche generic products. Elite’s
product lines consist of immediate-release and controlled-release, solid oral dose products, which are marketed under the Elite Laboratories
label, as well as pursuant to licenses granted to third-party pharmaceutical marketing and distribution organizations. Elite operates
a cGMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ. For more information, visit
www.elitepharma.com.
This
press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of
1995, including, without limitation, 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,
without limitation, risks, uncertainties 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 products by the FDA, and the actions the FDA may require of Elite in order to obtain such approvals. These forward-looking statements
are not guarantees of future action or performance. These risks and other factors are discussed, without limitation, 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:
For
Elite Pharmaceuticals, Inc.
Dianne
Will, Investor Relations, 518-398-6222
Dianne@elitepharma.com
www.elitepharma.com
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