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.Fool contributor Eric Volkman has no position in Star Scientific. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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