Pompano Beach, FL, November 12, 2012 -- Star Scientific, Inc.(NASDAQ: STSI) shares declined 18.36% to $2.09 in the pre-market hour after the company finally admitted that only $5 million in cash was received from the settlement of a long-running legal tussle with R.J. Reynolds Tobacco. Star also warned that current cash on hand would run out before the end of the first quarter 2013.
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Merck & Co., Inc.(NYSE: MRK) stock gained 0.91% to $44.45 in the pre-market hour after the company announced the presentation of early interim results from a single-arm, open-label Phase IB study that has so far enrolled 132 patients with advanced (inoperable and metastatic) melanoma who have received MK-3475, Merck's investigational immune-modulating therapy.
Omid Hamid, M.D., Director of the Melanoma Center at the Angeles Clinic and Research Institute, Los Angeles, presented the data during a late-breaking clinical trials session at the Society for Melanoma Research of the 9th International Congress of the Society for Melanoma Research (SMR) in Hollywood, Calif.
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IMAX Corporation (USA)(NYSE: IMAX) and CJ CGV Holdings, Ltd., a subsidiary of Korean media conglomerate CJ CGV Co. Ltd., announced an expansion of the companies' revenue share agreement with the addition of 15 new IMAX theatres to be installed in new construction projects throughout the People's Republic of China. The agreement brings CJ CGV's IMAX commitment to a total of up to 65 theatres in South Korea and China.
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Hess Corp.(NYSE: HES) said it will pursue the sale of its Russian subsidiary Samara-Nafta, as the company continues to reshape its portfolio. The company has retained Goldman Sachs as its financial adviser in connection with the potential sale of Samara-Nafta, which produces about 50,000 barrels of oil equivalent per day in the Volga-Urals region.
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Derma Sciences, Inc.(NASDAQ: DSCI) reported financial and operating results for the three and nine months ended September 30, 2012. The company’s net sales were $19.6 million, up 24% over the prior-year third quarter and up 12% over the second quarter of 2012. Net loss was $3.1 million or $0.24 per share, as compared with a net loss of $0.8 million or $0.08 per share in the prior-year third quarter.
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