Star Scientific Files Third-Quarter Financials for 2013; Comments on Company's Corporate Leadership Transition, Roskamp

Star Scientific Files Third-Quarter Financials for 2013; Comments on Company's
Corporate Leadership Transition, Roskamp Institute Scientific Presentations at
               2013 Annual Society for Neuroscience Convention

PR Newswire

GLEN ALLEN, Va., Nov. 12, 2013

GLEN ALLEN, Va., Nov. 12, 2013 /PRNewswire/ -- Star Scientific, Inc., (NASDAQ:
STSI) today filed with the Securities and Exchange Commission its Form 10-Q
for the quarter ended September 30, 2013. The Company reported net sales
totaling $2.3 million for the three months ending September 30, 2013, compared
with net sales of $1.7 million for the same period in 2012. Net sales for the
nine months ending September 30, 2013, totaled $7.3 million, compared with
$4.2 million for the same period in 2012. The net loss for the third quarter
of 2013 was ($3.4) million compared with a net profit of $0.4 million for the
same period in 2012. The net loss for the nine months ending September 30,
2013, totaled ($20.3) million compared with a net loss of ($12.8) million for
the same period in 2012. The gain for third quarter 2012 and lower net loss
for the 2012 nine month period reflected the payments received by the Company
in 2012 as part of the R J Reynolds patent litigation settlement.

(Logo: http://photos.prnewswire.com/prnh/20130319/PH79245LOGO )

General and administrative expenses were approximately $2.8 million for the
three months ending September 30, 2013, a decrease of approximately $0.9
million, or 24.0%, from approximately $3.7 million for the same period in
2012. Research and development costs in the three months ending September 30,
2013, were approximately $0.4 million, a decrease of approximately $1.1
million from $1.5 million in third quarter 2012. This decrease in research
costs reflects the fact that the Company had completed several clinical trials
prior to the third quarter 2013 and completed the double-blind and open-ended
portions of its Anatabloc® Facial Creme study in August 2013. Collection and
analysis of data from that study currently are underway. The Company also
reported, in an October 31 press release, publication of the results of the
Company's Thyroid Health Study. The peer-reviewed article was published
on-line in The Journal of Clinical Endocrinology & Metabolism as an "early
release" titled, "Anatabine supplementation decreases thyroglobulin antibodies
in patients with chronic lymphocytic autoimmune (Hashimoto's) thyroiditis: A
randomized controlled clinical trial". The "Early Release" manuscript is
currently available and may be obtained by clicking the following link:
http://jcem.endojournals.org/content/early/2013/10/31/jc.2013-2951.abstract

The Company has developed a time-release version of its Anatabloc® dietary
supplement that will undergo pharmacokinetic (PK) and related pre-market
testing. Once testing is complete, the new version of Anatabloc® is expected
to better enable users to take significantly fewer tablets per day. Previous
Internet and web studies undertaken by Rock Creek Pharmaceuticals, the
Company's wholly owned subsidiary, revealed consumer preference for a
reduction in the number of tablets recommended for daily usage. The Company
believes that the time-release version of Anatabloc® will enhance customer
satisfaction with its flagship product.

In September 2013, the Company announced that it had entered into an agreement
with Hall of Fame golfer Nancy Lopez under which she became the first female
Brand Ambassador for Anatabloc®. Ms. Lopez joins PGA professional Fred
Couples and ATP professional John Isner as the Company's brand ambassadors.
On October 15, 2013 the United States Patent and Trademark Office issued
Patent No. 8,557,999 to Rock Creek Pharmaceuticals. The patent covers
anatabine citrate, the active ingredient in the Company's Anatabloc® and
CigRx® products.

On November 7, 2013, the Company filed a preliminary proxy statement in
preparation for its 2013 annual shareholder meeting that proposed significant
changes in the Company's Board of Directors and senior management. As the
Company's November 7 press release reported, Michael J. Mullan MBBS (MD), PhD,
would assume the role of the Company's Chairman of the Board and CEO following
his election to the board at the annual meeting. Christopher C. Chapman, MD,
currently an independent director, would serve as President, and would be a
management member of the board. The Company believes that Dr. Chapman's prior
experience, including his role as the Medical Director of Quintiles
Transnational makes him uniquely qualified to oversee the development of the
Company's novel anatabine compound as a pharmaceutical product.

Dr. Mullan, as CEO of the Roskamp Institute, has directed extensive research
into the Company's anatabine compound. This week, Dr. Mullan and colleagues
from the Roskamp Institute are highlighting anatabine research in two
presentations at this year's Annual Society for Neuroscience convention in San
Diego, California. This annual convention is the largest meeting of
neuroscientists in the world, with an annual average of over 30,000 attendees.

On Sunday, November 10, Dr. Scott Ferguson of the Roskamp Institute presented
data on anatabine as a potential treatment for traumatic brain injury (TBI).
The study, which was funded by the Department of Defense and the Roskamp
Foundation, used a published preclinical laboratory model of mild repetitive
TBI, developed by the Roskamp team, which demonstrates cognitive impairment
and neuropathological changes consistent with human TBI patients. Dr.
Ferguson showed that chronic treatment with anatabine significantly improved
cognitive performance in the TBI group, and significantly reduced TBI-induced
inflammatory responses in the brain. The significance of repetitive mild
brain injury, and its negative long term consequences on health, has become
increasingly evident over the past few years both from military statistics on
TBI in troops, and the data from athletes such as NFL players who have
suffered multiple concussions. These data from the Roskamp Institute TBI
program support investigation of anatabine as a potential treatment for TBI.

On Wednesday, November 13, Dr. Daniel Paris and his colleagues will present
continuing data from their examination of the effects of anatabine in
transgenic mouse models of Alzheimer's disease, and normal control mice. The
data show that anatabine reduces anxiety in normal mice, both immediately
after treatment, and after long term chronic administration. In the
"Alzheimer" mice, chronic administration of anatabine, even after Alzheimer
pathology has begun, improved social interaction and social memory. Overall,
these data show that anatabine improves cognition in the Alzheimer mouse
model, and reduces anxiety in normal mice. Studies are ongoing to investigate
the impact of chronic use of anatabine on the Alzheimer pathology in these
mice.

****************************

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 and/or other studies, the
challenges inherent in new product development initiatives, including the
continued development and market acceptance of our nutraceutical dietary
supplements products, the effect of any competitive 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, potential litigation by or against us,
any governmental review of our products or practices and the outcome of the
ongoing investigations 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, 2012 and our quarterly reports on Form 10-Q for the quarters ended March
31, 2013 and June 30, 2013. 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 and lifestyle. Through its wholly
owned subsidiary, Rock Creek Pharmaceuticals, Star Scientific has been engaged
in the manufacturing, sale, and marketing of two nutraceutical dietary
supplements, cosmetic products, and the development of other nutraceuticals
and pharmaceuticals. The company also continues to pursue the licensing of the
technology behind its proprietary StarCured® curing process and its related
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, and an Executive, Scientific &
Regulatory Affairs office in Washington, DC.

Contact:
Talhia T. Tuck
Vice President, Communications and Investor Relations
Star Scientific, Inc.
(202)887-5100
ttuck@starscientific.com

SOURCE Star Scientific, Inc.

Website: http://www.starscientific.com
 
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