Star Scientific Q2 Revenues Grow, Net Loss Deepens

Star Scientific is reporting mixed results for its Q2. The quarter saw the company post net sales of $2.5 million, a 74% improvement over the $1.4 million it reaped in the same period the previous year. Net loss, on the other hand, deepened to almost $8.7 million ($0.05 per diluted share) from Q2 2012's red figure of $8.0 million ($0.06).

For the first six months of 2013, the company's top line came in at just over $5 million, nearly double the $2.5 million of the year-ago period. Net loss was $16.9 million ($0.10 per diluted share), against a shortfall of $13.2 million ($0.09) in the first six months of 2012.

Star Scientific attributed the pronounced growth in top line exclusively to sales of Anatabloc, an anti-inflammatory medication developed by its fully owned subsidiary Rock Creek Pharmaceuticals.

The article Star Scientific Q2 Revenues Grow, Net Loss Deepens originally appeared on Fool.com.

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