GLEN ALLEN, Va., Aug. 6, 2012 /PRNewswire/ -- Star
Scientific, Inc. (NASDAQ: CIGX) today announced that the Company
will change its NASDAQ trading symbol from CIGX to STSI, effective
as of the opening of trading on Tuesday,
August 7, 2012. This change is appropriate and
timely as the Company approaches the third quarter market entry of
its line extension of an Anatabloc® cream facial product, and given
the positive response to its Anatabloc® products for
anti-inflammatory support. These seminal events underscore
Star Scientific's broadening health-related corporate mission to
develop and manufacture products that assist the company's
expanding customer base in maintaining a healthy metabolism and
lifestyle.
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Paul L. Perito, Chairman,
President, and COO of Star Scientific, commented, "The
decision to change the trading symbol to STSI reflects management's
commitment to continue to expand the line of anatabine citrate
dietary supplement products and simultaneously accelerate
development of its prescription version of anatabine citrate in
connection with work being undertaken at the highly regarded
Roskamp Institute. We are ever mindful of the burgeoning cost
of healthcare, and intend to continue developing nutritional
supplements and pharmaceutical products that are preventative in
nature and that will benefit the public health interests of our
customers."
Certain statements contained in this release constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements include,
but are not limited to statements identified by words such as
"believes," "expects," "anticipates," "estimates," "intends,"
"plans," "targets," "projects" and similar expressions. The
statements in this release are based upon the current beliefs and
expectations of our company's management and are subject to
significant risks and uncertainties. Actual results may differ from
those set forth in the forward-looking statements. Numerous factors
could cause or contribute to such differences, including, but not
limited to, results of clinical trials, the challenges inherent in
new product development initiatives, including the continued
development and market acceptance of our nutraceutical and low-TSNA
tobacco products, our ability to license and protect our
intellectual property, our ability to raise additional capital in
the future that is necessary to maintain our business, changes in
government policy and/or regulation, including with respect to our
nutraceutical and low-TSNA tobacco products, as well as other risks
discussed from time to time in our filings with the Securities and
Exchange Commission, including, without limitation, our annual
report on Form 10-K for the fiscal year ended December 31, 2011. We undertake no duty to update
any forward-looking statement or any information contained in this
press release or in other public disclosures at any time.
About Star Scientific
Star Scientific, Inc. is a technology-oriented company with a
mission to promote maintenance of a healthy metabolism, as well as
to reduce the harm associated with the use of tobacco at every
level. Over the last several years, through its wholly owned
subsidiary, Rock Creek Pharmaceuticals, Star Scientific has been
engaged in the manufacturing, sale, and marketing of two
nutraceutical dietary supplements, and the development of other
nutraceuticals and pharmaceuticals. The company also has continued
to pursue the development, implementation, and licensing of the
technology behind its proprietary StarCured® tobacco curing
process, which substantially prevents the formation of carcinogenic
toxins present in tobacco and tobacco smoke, primarily the
tobacco-specific nitrosamines, or TSNAs and related low-TSNA
dissolvable tobacco products. Rock Creek Pharmaceuticals has
scientific and research offices in Gloucester, MA, and a regulatory office in
Washington, DC. Star Scientific
has a Corporate and Sales Office in Glen
Allen, VA; Executive, Scientific & Regulatory Affairs
offices in Bethesda, MD, and
Washington, DC; and a
manufacturing facility in Chase City,
VA.
Contact:
Talhia T. Tuck
Vice President, Communications and Investor Relations
Star Scientific, Inc.
(301) 654-8300
ttuck@starscientific.com
SOURCE Star Scientific, Inc.