UPDATE: Gilford Securities Initiates Buy on Star Scientific

Gilford Securities initiated its coverage on Star Scientific (NASDAQ: CIGX) with a Buy rating based on impending growth catalysts.

Gilford Securities noted, "Star now appears within weeks or months of enormously positive accomplishments in as many as four major arenas. 1) Explosive growth of Star's Anti-Inflammatory Dietary Supplement Anatabloc, 2) Worldwide tobacco industry licensing revenue streams, 3) A potential settlement from Reynolds, and 4) Pharmaceutical industry partnerships A fifth possibility, potentially most important of all but not likely until the spring of 2013, will be results of clinical treatment for Alzheimer's disease."

Star Scientific closed at $3.78 on Tuesday.