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.
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.
Talhia T. Tuck
Vice President, Communications and Investor Relations
Star Scientific, Inc.
SOURCE Star Scientific, Inc.