Star Scientific to Seek OK for Lower-risk Tobacco

Source from:  Reuters 09/23/2009

Star Scientific Inc (STSI.O) said Tuesday it plans to seek regulatory approval in early 2010 for tobacco products that promise reduced levels of carcinogens, sending its shares up as much as 22 percent. The company said its patented method for cultivation, curing and preparation of tobacco will enable the company to achieve the lowest toxin levels anywhere in the world. Star plans to submit the products for approval to the U.S. Food & Drug Administration as "modified risk" tobacco products, under Section 911 of the new Family Smoking Prevention and Tobacco Control Act. The announcement comes on the same day that a ban on most flavored cigarettes goes into effect as part of the same legislation. Shares of Star Scientific were trading up 14 percent at $1.12 midday on Nasdaq. They touched a high of $1.20 earlier in the session. Enditem