Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You point out your "guess only" that Tradewinds may be loaning shares out to shorts. Everyone assumes that greater institutional investment is good...which I would generally agree with...but isn't this also a means of potential "collusion" (perhaps a strong word) among institutional investors with short interest to rip off retail shareholder? I mean, Tradewinds might help out another institution and/or shorter as a quid pro quo for some other financial arrangement not even related to STSI.
Investor Update March 20
GLEN ALLEN, Va., Feb. 14, 2014 /PRNewswire/ -- Star Scientific, Inc., (STSI) today announced that the Company will host an Analyst and Investor meeting for research analysts, and institutional and other investors, on Thursday, March 20, 2014, from 1:00 PM (EDT) to 3:00 PM in Sarasota, Florida, at the Roskamp Institute. Michael Mullan, M.D.(MBBS), Ph.D., Chairman and Chief Executive Officer of Star Scientific, along with Chris Chapman, M.D., President, will lead the Company's presentations. The presentations will focus on the scientific foundations of the Company's technology, the progress of its research and development programs, and the Company's near-term and long-term pharmaceutical strategy.
(Logo: http://photos.prnewswire.com/prnh/20130319/PH79245LOGO )
A live video webcast of the Analyst and Investor meeting will be accessible to the public through the Investor Relations section of Star Scientific's website at: http://www.starscientific.com/investors. Instructions relating to the electronic submission of questions from the webcast audience will be provided on the Company website as the meeting date approaches.
Registration is required to attend the meeting in Sarasota and seating is limited. Individuals interested in attending the meeting in person will be able to register, beginning February 19, 2014, through a link on the Company's website (www.starscientific.com).
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, June 30, 2013, and September 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, a cosmetic facial cream, a facial serum, 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.
CONTACT:
Talhia T. Tuck
Vice President, Communications and Investor Relations
Star Scientific, Inc.
(202) 887-5100
ttuck@starscientific.com
Ted Jenkins
Vice President, Corporate Strategy and Development
Rock Creek Pharmaceuticals
tjenkins@rockcreekpharmaceuticals.com
Mr. Jenkins background. Doing a little extra research, he spent most recently (in chronological order starting with most recent):
Oppenheimer, 6 plus years
Friedman Billings Ramsey, 5 plus years
Credit Suisse First Boston, 4 years
Solomon Brothers, 1.5 years
Alex Brown, 2 plus years.
And of course, Navy career of distinction prior to...
On the surface, got to like the fact that this gentleman has considerable experience with institutions AND appears to have staying power with the companies he becomes part of.
Anectodal report only.
Recently underwent at CT heart scan...basically, part of a free study. Despite family history of heart disease, mine came up with no blockages and calcium score of 0. (the best it can be and indicates no plaque buildup. Age 53.
Been taking Anatabloc religiously over the past few years. Obviously, no firm cause/effect evidence...but let's just say I will continue to take my Abloc.
Another big thanks to you for posting as well as the originator of these valuable comments!
I repeat my contention that if the FDA really believes Anatabloc is harmful, they should have "been on this case" many, many months ago. In my opinion, nothing has changed in the past several days as this has been sinking lower other than manipulators attempting to get more to sell into the panic. I continue to buy significantly more every step down...and am prepared to go down with the ship if that is the ultimate destiny. Risk and reward.
Newsweek? I think some people will remember seeing that in the John in their parent's bathroom growing up. Sort of like Sports Illustrated relevance these days...minus their Swimsuit issue which is what they rely on to remain relevant.
My only concern is that in order to "validate" its case, anti-former governor political interests will be encouraged to do whatever possible to make Star look "anything but good" leading up to the trial.
Even if ex-Gov/wife no longer on "speaking terms" with JW, you figure if Star/Anatabloc validation science makes strides over the next several months, it will make the Gov/wife look like they really WERE looking out for the citizens of Virginia.
Good news re: Gov. of VA case.
Looks like trial date set for July 28. And judge has issued a strict "gag order" with respect to prosecution and defendants in the case. So should help keep it out of the media continually moving forward.
Wonder if the investor update mentioned for Q1 will wait until AFTER this hearing...may just be one of many factors, including FDA, positive developments, etc.
"Overreaching on Hopkins influence, plus the lack of disclosure about a federal corruption investigation -- which the company knew about in January 2013 but didn't disclose until 2 months later -- led the stock to trade at inflated levels, shareholders argued in their suit.
The shareholder suit seeks class-action status, but that hasn't been granted yet. A hearing date for that decision has been set for March."
Agreed. I believe she should be part of the "clean sweep"...even if she is capable. I certainly haven't seen much.
Generally, I think his statement bodes well for Star's "lack of culpability"...at best, you call into question JW's judgement.
The one statement that he makes, does stretch things a bit...
"Star Scientific publicly confirmed last spring that it neither sought nor received any special benefits from any official."
Guess it depends on what one considers "special benefits". Wonder if my wife mentioned she liked JW's watch he would have bought me one too?!
If I'm JW, if I ever say anything about this on or off the record, I wrap my entire explanation in the context that I truely believe that this "discovery can be of tremendous benefit to health and welfare of individuals" and was simply trying to do whatever possible to advance this awareness.
Leif, I would certainly be more harsh with Governor of Va and his wife...on moral/ethical grounds alone. The "boy I'd like my husband to have a Rolex watch" deal is really bad. On the other hand, I actually blame JW relatively little...he was largely "playing the game". It's called lobbying...and the big $ "clean" interests do it by giving to political PACs, etc. As it is, it certainly sullies Star/Antabloc if only with guilt by association. Other than publicity (originally seemed to be a positive and has since turned out to be a huge negative), I don't see where Star gained anything tangible....unless it was the UVA and/or VCU studies grants.
Hopefully, Dr. Mullan and current crew had no involvement even having dinner or being on vacation with the Governor's crew. Not that it would be a show stopper, but would be good to have completely clean hands.
An enterprising PR person would find a way to turn all of this "news" into greater awareness of the medical/neutraceutical possibilities for Anatabine.
Oh, that is a bunch of BS! To a short term trader, maybe. These folks have already "bet" with their prestige and reputations. To a scientist and researcher, that is everything. They don't NEED to do anything...that was taken care of by the 15Million rainy day fund from JW.
I am with you. I think with Mullan in place it's also very much a case of good vs. evil. I like being on the side of "good".
I think he played it just right and is largely what I expected. He's already said the investor update would be some time in the first quarter and details would be provided as the date approaches. That gives some flexibility with respect to what they work out with the FDA as well as developments that may be in the works already with respect to prescription version progress, any involvement with Archer/Nivaldipine Phase 3 trial, reverse merger, etc. etc....
Why give a fixed date now...another "show of hand" to shorters/manipulators to make them feel warm and fuzzy about how much time they have?
Interesting. Good explanation of what FDA is "saying".
Ultimately, may reinforce the previous comment about Star being "crazy like a fox". Star/RCP has established a demand for Anatabloc...and now the FDA is put in a position where they have to either stop sales or not. May be better for Star/RCP if they banned it?...think of the outcry and attention that will be placed on the FDA if that happens...and all the attention that will be placed on approval of a prescription version ASAP. I doubt the FDA wants to be put in that position.
More likely, Star/Rock Creek bombards FDA with safety profile data for Anatabloc and "gets FDA off the hook" to allow continuing sales of OTC Anatabloc.
Another silver lining, the FDA warning to Star/RCP (and the company's ability to provide evidence to overcome objections), further strengthens the "good housekeeping seal of approval" that may discourage other potential "knockoffs".
Should be interesting. A few notes of caution...
Mullan, as new CEO, may choose to be very conservative in making any "predictions" of what the FDA may/will do. Afterall, they originally wanted to do the investor update in the "first quarter"...the FDA letter forced him to respond with the call scheduled for Jan 15. I would suspect some of our "good news" may wait until the investor meeting originally discussed, but who knows? If indeed the plan is to merge Archer into Rock Creek Pharma, that is a big piece of the puzzle which may wait until at least the investor update.
I am also not so quick to blame JW for past transgressions. To me, the Governor and his wife and crew certainly deserve LOTs of blame, but JW was just trying to play the game that politicians seem to play. Yes, there have been other screw ups, but certainly lots of headwinds that JW has helped steer through.
If Star has "straddled the fence" with respect to the FDA on neutraceutical vs. prescription, etc. it has certainly gotten Anatabloc into the hands of many appreciative consumers faster than what have might been possible otherwise. I would expect quite an outcry if the FDA elects to ban Anatabloc sales, even temporarily. One thing about government agencies...they likely don't want the publicity of making lots of folks very vocally unhappy. I expect that Mullan will spend some time discussing the safety profile of Anatabloc on the call...just a wild *ss guess, of course.
Could be...I really have no idea. I would think that inclusion of all 3 "parts of the cocktail" would be part of the single, prescribed drug. I have not seen reference to Anatabine though as part of the ARC031 referenced.
Will "cocktail" mean another set of phased trials?
A legitimate question that I would suppose will be addressed hopefully during cc or investor update. I would think that if Archer is already in Phase 3 with ARC031, then a "cocktail" treatment would be mean re-starting with Phase 1? Perhaps someone with more knowledge can respond to that hypothetical.
Archer Products...worth a read
http://www.archerpharma.com/products&research.html
Like the Worldwide rights part....
Nivaldipine...Phase III trial ending first half of 2014? Took the information below from the original announcement (dated Feb 14, 2012) of Phase 3 trial for Archer's Nivaldipine trial in Europe. Note it mentions trial beginning in Fall, 2012 and lasting for 18 months. That places trial end date early to mid this year. Certainly food for thought given some predictions that Mullan will have Archer reverse merger into Rock Creek Pharmaceuticals (aka STSI).
"We believe that Nilvadipine blocks the production of amyloid proteins linked to Alzheimer's disease," said Roskamp Institute President and CEO Michael Mullan, M.D., Ph.D., who along with Associate Director Fiona Crawford, Ph.D., and Daniel Paris Ph.D. led the team that developed the drug. "That means Nilvadipine is aimed at addressing the actual disease, and not just the symptoms."
A consortium of medical teams from nine European countries is meeting in Ireland this week to plan the US$10 million multicenter study. Phase III studies are usually the last step in the regulatory process before a drug can move into clinical practice. The consortium, called NILVAD for Nilvadipine/Alzheimer's Disease, will involve participants from Ireland, England, Hungary, Greece, France, Sweden, Germany, Italy and the Netherlands.
The 500 participants, who have mild to moderate cognitive impairments, will begin the double-blind study this fall. Each participant will be followed for 18 months to see if the drug produces a change in cognitive abilities.
Thanks for that post and completely agree. Every democracy/republic could probably use a "king for a day" to make it so!
FDA imposing its relevance?
Again, how many products are sold as both an OTC drug (or neutraceutical) AS WELL AS a prescription drug. Not many, I don't believe...all I can think of are prescription strength Tylenol w/codeine (different from OTC Tylenol anyway), 800mg Ibuprofen (why bother, just take 4 of the 200mg...unless you get cheaper as prescription).
STSI already announced that they would be pursuing 2 different paths...one prescription, one neutraceutical.
The FDA letter may be as much an attempt to reinforce its relevance as anything else. The drug "cocktail" notion that many predict for Alzheimers treatment (w/Mulan and the Phase 3 trial going on in Europe) offers the potential that Anatabine is included in the prescription version "cocktail"...again separate and apart from OTC Anatabloc. I would think Anatabloc inclusion for treatment of other conditions would follow this path as well. I guess my point, the FDA needs to be able to clearly make a distinction between OTC and prescription products. Star cutting back on any specific medical claims for the OTC version helps keep such a distinction in place.
And so what? Smart consumers will be able to figure it out. Doctors will become more aware. Spokespeople like Couples and Lopez (and hopefully others) will keep Anatabloc OTC moving nicely while the more lucrative prescription market develops over time.
naysayers, shorters will be very nervous leading up the call on January 15. New CEO could say something that could cause this thing to jump considerably...not predicting it, just a possibility. His preference may have been to hold EVERYTHING off until the 1st quarter update, but I suspect that some of what was planned for that session may now be covered during the January 15 call. Hmmm...new CEO and first general public call in say....EVER! If I were shorts, I would be VERY VERY nervous. Our new leader may be realistic...but I also would not expect him to put a NEGATIVE spin on the company's prospects. You think he's going to say something that will cause it to go DOWN further?...always possible, but I would certainly bet more on the opposite.
Agree. In spite of my rather hostile posts otherwise. The beauracratic delays and lack of accountability of government organizations ultimately is rather disturbing. But that's a political discussion that I will not get into.
Thanks for your post. Nice to hear from someone that was actually at the meeting and can provide a feel for the "between the lines" sense of what is really going on and personalities, etc.
Give me a break!!! er...Washington Post....Virginia governor race...you do realize the FDA is based in DC, right? Star very well may have not followed proper protocol, but "under the radar" is preposterous.
What do you mean by "current fiasco"? You mean, the FDA calling into complete question that Anatabloc should be considered a lawful neutraceutical? Well, what Star has been doing from a PR, Website, studies, retail perspective has been going on for a couple of years now. The "fiasco" part is the FDA...very, very late in the game...suggesting that ALL of this was improper and should be unplugged. I would think that the FDA, if smart, will work with Star to find a compromise to keep Anatabloc on the market. In some respects, it might be better for it to be pulled (from an investor perspective), to bring more attention to the need to fast-track a prescription, properly regulated version.
This is more about the FDA really not knowing how or when to regulate neutraceuticals and indiscriminately deciding when and how to enforce their power. Even if you believe Anatabloc is "snake oil" you should be outraged at the FDA's failure to bring its objections to the forefront MUCH, MUCH sooner than they have. All of which leads to questions about corruption, big Pharma influence, etc. That deaf, dumb and blind kid sure knows how to play a mean pinball.
Saw note from one of the people attending who suggested that someone from the company indicated it would be available in Summer.
Pretty pathetic. FDA claiming that they can't be expected to keep up with 85,000 neutraceuticals. Well, GNC, the biggest neutraceutical retailer in the USA made Anatabloc its "product of the year". Then, although they throw Anatabloc under the bus on TBI (well...was it the Dept of Defense or Star?), the letter they sent basically trashes everything that Star is about. Have they been asleep at the wheel for the past 2 YEARS!!!??? That is the damning take-away with respect to the FDA to me.
Leif,
I believe there are shades of grey in the retail numbers. I certainly have re-ordered and continue to use. Have also purchased for friends and relatives...most recently for my 83 year old mother who reports good results relative to knee and joint pain. Price is a challenge but more importantly, personal discipline to take the number of times required daily. Lots of folks lack that discipline...even those who suffer from maladies who can actually be helped.
The time-release version should help.
Leif,
Appreciate your position and VERY relevant observations. Just know that you are not alone with your opinions...
My biggest concern is that STSI (or whatever it becomes) has the chops to wade through all of the crap that can get in the way. Hopefully, our new leaders are up to the task.
Yes, thanks. P.S...while appreciating his "enthusiasm", NukeJohn credibility suffers when he refers to things that simply aren't there in fact or cannot be confirmed.
You said,
"They appear to be ready to hit the ground running with upcoming investment conferences and discussions with Pharmas."
What exactly are you referring to there? I know they said they would have an investor update in Q1, but is there something else that you are specfically referring to?
Certainly wish I could be there myself...but appreciate you and others being there to report back to the rest of us!
Will be interesting to see how much you can learn. My fear is that they will point to some update in Q1 (already referenced in the news release) rather than say much of anything now. I wish these guys would move a bit faster in revealing their plans!
Well...sounds like this may drag out even longer. Of course, Governor/wife and their lawyers throwing everyone else under the bus. Good to see that Sutherland appears to be a "threat" to the govenor/wife credibility...so it's not just J Williams whose "credibility" is being questioned.
Dec 27 date of annual meeting.
What is date of annual meeting? Thanks in advance.