STOCK TITAN

22nd Century Group Inc. - XXII STOCK NEWS

Welcome to our dedicated page for 22nd Century Group news (Ticker: XXII), a resource for investors and traders seeking the latest updates and insights on 22nd Century Group stock.

22nd Century Group, Inc. (NASDAQ: XXII) is a pioneering agricultural biotechnology company based in the United States. The company specializes in reducing the harms associated with smoking through advanced plant science technologies. 22nd Century leverages proprietary technology to precisely control the levels of nicotine in tobacco plants, making them significantly lower or higher through genetic engineering and selective breeding.

22nd Century operates primarily in the tobacco sector, commercializing its proprietary very low nicotine content (VLNC) tobacco plants and cigarette products. These products include reduced nicotine tobacco cigarettes marketed under the brand VLN®, which have up to 97% less nicotine than traditional cigarettes. VLN® received the first and only FDA Modified Risk Tobacco Product (MRTP) authorization for a combustible cigarette in December 2021, underscoring its breakthrough in the industry.

The company also has a significant footprint in the cannabis sector, applying its technology to control cannabinoid levels in cannabis plants, aiming to optimize health and wellness benefits. The company's wholly-owned subsidiaries, Goodrich Tobacco Company and Hercules Pharmaceuticals, focus on premium tobacco products and smoking cessation aids, respectively.

Recent strategic moves include restructuring to streamline operations and improve financial performance. The company has reduced cash use from $15 million a quarter to under $4 million projected for the first quarter of 2024. Recent business highlights feature new contract manufacturing agreements and expanded product lines, such as the Pinnacle brand cigarettes and cigarillos. These efforts are expected to propel 22nd Century towards cash-positive operations by Q1 2025.

Financially, the company has taken steps to bolster its balance sheet, announcing multiple equity transactions to reduce long-term and short-term debt. As of December 31, 2023, the company held $2.1 million in cash, with subsequent capital infusions improving liquidity. Revenue is majorly derived from its tobacco segment, with research cigarettes sold under the SPECTRUM brand adding to commercial activities.

For investors, 22nd Century's commitment to innovation in plant biotechnology presents a compelling case for growth. The company continues to host quarterly earnings calls, with the latest results showing promising advances in both financial metrics and strategic goals. Learn more at xxiicentury.com

Rhea-AI Summary

22nd Century Group (Nasdaq: XXII) has achieved a significant breakthrough in hemp/cannabis plant research through collaboration with KeyGene. The company successfully transformed the hemp/cannabis genome using proprietary technology, enabling targeted DNA insertion to enhance traits like cannabinoid content and yield.

This advancement opens new revenue opportunities and strengthens 22nd Century's position in the emerging hemp/cannabis genetics field, allowing for faster, cost-effective creation of high-value commercial plant lines.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.73%
Tags
none
-
Rhea-AI Summary

22nd Century Group has received USDA Organic Certification for its hemp production at Needle Rock Farms, enhancing its ability to command premium pricing and margins on hemp biomass. This certification supports the company's development of innovative hemp/cannabis plant lines, catering to specific customer requirements more efficiently than traditional breeding methods. The company completed the harvest of its initial customized hemp lines in late 2021 and plans to expand its offerings in 2022, positioning itself for growth in the expanding hemp market driven by legalization efforts.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.75%
Tags
none
-
Rhea-AI Summary

22nd Century Group (Nasdaq: XXII) announced a live webcast on March 1, 2022, at 10:00 AM ET, to discuss its 2021 fourth quarter and full-year financial results. The results will be released at 6:00 AM ET that day. CEO James A. Mish and other executives will review financials and advancements in the company's tobacco harm reduction initiatives. An interactive Q&A session will follow, allowing analysts and shareholders to engage with management. The webcast will be available on the company's Investor Relations page.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.48%
Tags
none
Rhea-AI Summary

22nd Century Group (Nasdaq: XXII) supports the FDA's intent to ban menthol in combustible cigarettes, emphasizing the need for a non-addictive alternative. The company believes its VLN® Menthol King, with 95% less nicotine, could be exempt, aiding transitions for current menthol smokers. The FDA has authorized the VLN® product line and recognizes its role in reducing nicotine consumption. The tobacco market is significant, estimated at $80 billion.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.84%
Tags
none
-
Rhea-AI Summary

22nd Century Group (Nasdaq: XXII) announced the production of the first cartons of VLN® King and VLN® Menthol King Cigarettes for retail sale, marking a significant milestone for the company. The VLN® cigarettes contain 95% less nicotine than leading brands and have received FDA MRTP designation. CEO James A. Mish emphasized the importance of this product in aiding adult smokers to reduce nicotine dependency. The company is also expanding its manufacturing capabilities to support a national launch after the pilot program.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.36%
Tags
none
-
Rhea-AI Summary

22nd Century Group, Inc. (XXII) has appointed James A. Mish to its Board of Directors, enhancing the board's scientific and commercialization expertise. Mish, who has been CEO since June 2020, brings extensive experience in developing consumer products and navigating regulatory landscapes. His appointment precedes the launch of the company’s reduced nicotine tobacco and modified hemp products. This strategic move aims to strengthen the company's market position during a transformative period and contribute positively to its strategic initiatives.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.19%
Tags
management
Rhea-AI Summary

On January 18, 2022, 22nd Century Group announced that the FDA authorized its VLN® King and VLN® Menthol King cigarettes as the first reduced nicotine content (RNC) cigarettes with a Modified Risk Tobacco Product designation, adding the claim "Helps You Smoke Less" on packaging. A pilot launch with a major retail partner is set for March 2022. This groundbreaking decision could shift the smoking landscape by providing smokers with a viable alternative aimed at reducing nicotine dependence, in a U.S. tobacco market worth around $80 billion.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.86%
Tags
none
-
Rhea-AI Summary

22nd Century Group, Inc. (Nasdaq: XXII) announced participation in two fireside chat events on January 5, hosted by Alliance Global Partners and Cowen. Management will include CEO James A. Mish and CFO Richard Fitzgerald. The discussions will cover the FDA's recent authorization of the company's VLN® King and VLN® Menthol King reduced nicotine cigarettes as Modified Risk Tobacco Products. VLN® contains 95% less nicotine than conventional cigarettes, aiming to reduce nicotine exposure and dependence among smokers.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.91%
Tags
conferences
-
Rhea-AI Summary

22nd Century Group (Nasdaq: XXII) announced that its VLN® King and VLN® Menthol King reduced nicotine content cigarettes received FDA marketing authorization as modified risk tobacco products (MRTPs). VLN® cigarettes contain 95% less nicotine than traditional cigarettes and are aimed at helping smokers reduce nicotine exposure and consumption. The FDA approved claims such as 'Helps you smoke less' and '95% less nicotine.' With 60% of adult smokers expressing interest in trying VLN®, the company plans to launch these products in the U.S. within 90 days and globally by Q1 2022.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.52%
Tags
none
Rhea-AI Summary

22nd Century Group (Nasdaq: XXII), has received FDA MRTP designation for its VLN® cigarettes, the first combustible cigarette to obtain this status. The FDA authorized claims including “Helps you smoke less” and “95% less nicotine.” VLN® is set to launch in the U.S. within 90 days and internationally in Q1 2022. With 60% of adult smokers indicating a willingness to try VLN®, this could significantly transform tobacco use and public health.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
38.64%
Tags
none

FAQ

What is the current stock price of 22nd Century Group (XXII)?

The current stock price of 22nd Century Group (XXII) is $0.0941 as of November 22, 2024.

What is the market cap of 22nd Century Group (XXII)?

The market cap of 22nd Century Group (XXII) is approximately 4.3M.

What is the primary focus of 22nd Century Group, Inc.?

22nd Century Group focuses on reducing the harms of smoking through advanced plant biotechnology, specializing in very low nicotine content (VLNC) tobacco products.

What are the key products offered by 22nd Century Group?

Key products include VLN® reduced nicotine cigarettes, research cigarettes under the SPECTRUM brand, and premium tobacco products through Goodrich Tobacco Company.

What recent financial milestones has the company achieved?

The company reduced its cash use significantly, secured additional capital infusions, and restructured its debt to improve financial health.

What strategic initiatives is 22nd Century Group currently undertaking?

Strategic initiatives include expanding contract manufacturing, launching new product lines, and focusing on growing the VLN® brand and Pinnacle private label products.

What is VLN® and how is it significant?

VLN® is a line of very low nicotine content cigarettes that received the first FDA Modified Risk Tobacco Product authorization, marking a significant breakthrough in reducing smoking harms.

How does 22nd Century Group utilize its biotechnology capabilities?

The company uses genetic engineering and molecular breeding to control nicotine and cannabinoid levels in plants, optimizing them for health and wellness benefits.

What are the financial projections for 22nd Century Group?

The company aims to achieve cash-positive operations by the first quarter of 2025, with continued improvements in revenue and financial stability.

How does 22nd Century Group's technology benefit the cannabis sector?

Their technology allows precise control over cannabinoid levels in cannabis plants, enhancing the therapeutic potential and benefits of cannabis products.

What is the significance of the recent contract manufacturing agreements?

New contracts are expected to boost production volumes by more than 20%, improving revenue and helping achieve operational profitability.

How can investors stay updated on 22nd Century Group's developments?

Investors can follow the company's updates on their Investor Relations website, quarterly earnings calls, and news releases on platforms like StockTitan.

22nd Century Group Inc.

Nasdaq:XXII

XXII Rankings

XXII Stock Data

4.26M
38.55M
16.77%
9.82%
4.42%
Tobacco
Cigarettes
Link
United States of America
WILLIAMSVILLE