Welcome to our dedicated page for 22Nd Century news (Ticker: XXII), a resource for investors and traders seeking the latest updates and insights on 22Nd Century 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
22nd Century Group (Nasdaq: XXII) expresses strong support for Dr. Robert Califf’s nomination as FDA Commissioner. Califf, a proponent of tobacco control, emphasizes a nicotine cap as a crucial priority for public health. The company’s reduced nicotine cigarette, VLN®, aligns with FDA's proposed nicotine mandate, which could significantly assist over five million smokers in quitting within the first year. With MRTP designation for VLN® being a top priority, the company is poised for a U.S. launch within 90 days post-approval, aiming for international expansion in early 2022.
22nd Century Group (Nasdaq: XXII) announced its participation in two virtual investor conferences in November 2021. The first event is the Inaugural Roth Capital Partners AgTech Answers Virtual Event on November 16, allowing meetings with company representatives. The second event is the Cowen 4th Annual Cannabis Conference on November 30, featuring a panel discussion titled 'Creative Cannabis Exposure.' Interested attendees can request meetings through the respective conference hosts or the company's investor relations team.
22nd Century Group (Nasdaq: XXII) reported third-quarter 2021 net sales of $7.8 million, up 6.9% year-over-year, driven by increased contract manufacturing. The company holds a strong cash position of $55.2 million as of September 30, 2021. After a successful October 14 meeting with the FDA, confidence in obtaining MRTP authorization for its VLN® reduced nicotine cigarettes is at an all-time high. Plans include monetizing hemp/cannabis lines starting Q4 2021 and launching a new hops franchise, expanding its addressable market to $1.3 trillion.
22nd Century Group, trading as XXII, will host a live webcast on November 4, 2021, at 10:00 AM ET to discuss its third quarter 2021 results. The report will be released at 6:00 AM ET on the same day. CEO James A. Mish, COO Michael Zercher, and CFO John Franzino will review performance and progress across the company’s three franchises. Following their presentation, a Q&A session will allow analysts and stakeholders to ask questions. Access the webcast and related materials on the company’s investor relations website.
22nd Century Group (Nasdaq: XXII) commends the FDA for its recent actions supporting reduced nicotine alternatives, affirming its commitment to public health. The company’s VP of Regulatory Science, John Pritchard, is set to speak at the FDLI Tobacco and Nicotine Products Regulation and Policy Conference on October 27, 2021. The FDA's Comprehensive Plan aims to lower nicotine in all cigarettes to non-addictive levels. 22nd Century’s VLN® cigarettes contain significantly less nicotine and could greatly impact smoking cessation efforts, potentially saving millions of lives.
22nd Century Group (Nasdaq: XXII) will participate in the Benzinga Rising Stars: Catalytic Small Cap Growth Conference on October 7, 2021. The presentation, led by CEO James A. Mish, will commence at 12:15 PM ET and can be viewed on Benzinga’s live stream channel or on the Company's Investor Relations website.
The focus will be on the Company’s advancements in plant biotechnology, particularly in tobacco, hemp/cannabis, and hops, aimed at improving health and wellness through innovative plant science.
22nd Century Group (Nasdaq: XXII), an innovative biotechnology firm focused on plant sciences, announced its participation in various virtual investor conferences in September and October 2021. Key events include a fireside chat at the BTIG Cannabis Conference on September 29, a presentation at the LD Micro Main Event on October 12, and participation in the Dawson James Small Cap Conference on October 21. CEO James A. Mish will outline business development efforts, including plans for commercialization of VLN® reduced nicotine cigarettes and proprietary hemp/cannabis initiatives.
22nd Century Group (Nasdaq: XXII) announced its entry into the global specialty hops market, marking its third plant franchise, as detailed in a shareholder update from CEO James A. Mish. The company is establishing a new subsidiary in the Netherlands to capitalize on opportunities in this market, which has an estimated $1.3 trillion total addressable market. The company aims to use its expertise in plant science and advanced breeding technologies to accelerate the commercialization of proprietary hop plants, enhancing products in the brewing and nutraceutical industries.
22nd Century Group, Inc. (Nasdaq: XXII) has appointed Anthony Johnson to its Board of Directors, enhancing its expertise in biotechnology and commercialization strategies. Johnson, a notable leader in life sciences, brings extensive experience from his roles at Kodikaz Therapeutic Solutions and Empire Genomics. His diverse background, spanning international markets, is expected to bolster 22nd Century's initiatives in tobacco harm reduction and cannabis research. This strategic move aims to drive business development and value creation as the company works on innovative plant-based technologies.
22nd Century Group (Nasdaq: XXII), a leader in plant-based biotechnology, announced CEO James A. Mish will present at the SNN Network Summer Virtual Event on August 19, 2021, at 2:30 p.m. ET. The event will be accessible via a live webcast on the company’s Investor Relations website. Attendees can request one-on-one meetings with company representatives through the conference website or by contacting investor relations directly. The company focuses on reducing tobacco harm through reduced nicotine content cigarettes and enhancing hemp/cannabis strains for better cannabinoid profiles.
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