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 (NASDAQ: XXII) pioneers plant-based solutions for tobacco harm reduction through advanced biotechnology. This news hub provides investors and stakeholders with essential updates on regulatory milestones, product innovations, and operational developments central to the company's mission of reducing nicotine addiction.
Access authoritative coverage of FDA communications, VLN product advancements, and manufacturing capacity updates. Our curated collection includes earnings reports, patent filings, and scientific research collaborations that demonstrate 22nd Century's leadership in developing reduced-nicotine tobacco products.
Key updates feature the company's Modified Risk Tobacco Product authorization, progress in international market expansion, and innovations in nicotine biosynthesis control. Regular updates ensure informed tracking of this biotechnology firm's unique position at the intersection of public health and commercial tobacco production.
Bookmark this page for streamlined access to verified corporate announcements and analysis-free reporting on 22nd Century's progress in redefining tobacco consumption through science-driven solutions.
22nd Century Group (XXII) announced a proposed settlement of stockholder derivative actions pending in New York and Nevada courts. The settlement, dated March 4, 2025, addresses allegations that company directors and officers breached their fiduciary duties through a paid stock promotion scheme and issued misleading statements.
The settlement requires the company to implement corporate governance reforms and procedures. 22nd Century will pay $768,333 in attorneys' fees and expenses, with additional service awards of up to $2,500 for each of the four plaintiffs to be paid from the fee amount.
A Settlement Hearing is scheduled for July 16, 2025, where the court will determine the fairness and adequacy of the settlement. Current stockholders have until June 25, 2025 to file objections. Upon final approval, the plaintiffs will dismiss their complaints with prejudice.
22nd Century Group (XXII) has secured two new agreements with former customers for filtered cigar production, expanding its Contract Manufacturing Operations (CMO). The company expects to initiate shipments in Q2 2025, with projected annual volumes of 500,000+ cartons.
This development follows a previous agreement signed in Q3 2024 with another filtered cigar customer. The new agreements are structured to provide appropriate gross margins and consistent volume, strengthening the company's CMO platform and supporting its growth strategy. Additionally, these partnerships could potentially facilitate the expansion of VLN® through established retail channels and trusted partner brands.
22nd Century Group (NASDAQ: XXII) CEO Larry Firestone issued a corporate update highlighting the company's strategic transformation and growth plans. The company has streamlined operations by focusing solely on tobacco, reducing cash burn, and cutting ~$18M in debt. Their flagship product VLN®, the only FDA-authorized cigarette with 95% less nicotine, is positioned to address a significant market opportunity where nearly 29 million adult smokers seek alternatives.
The company's contract manufacturing (CMO) business serves as their operational backbone, providing manufacturing and supply chain services to secondary tobacco brands. Starting Q2 2025, they plan to launch rebranded VLN® products (Gold, Red, and Green Menthol) across 5,000+ stores, targeting expansion into the 272,000 stores nationwide. The company is also partnering with CMO customers to launch partner-branded VLN® products, aiming to establish the Very Low Nicotine Content (VLNC) category in the $85 billion tobacco industry.
22nd Century Group (XXII) reported Q4 and full-year 2024 financial results, showing declining performance with net revenues decreasing to $4.0 million from $5.9 million in Q3 2024. The company posted a gross loss of $(1.3) million and increased net loss to $4.2 million.
Key developments include launching new VLN® branding for Q2 2025 shipment and announcing partnership with Smoker Friendly. The company signed a five-year expanded license and manufacturing agreement covering 11 existing products and eight new premium products.
Q4 2024 breakdown shows cigarette revenues at $3.3 million (228,000 cartons), filtered cigars at $0.8 million, and negligible cigarillo distribution revenue. VLN® cigarette revenue was $(0.1) million due to rebates and marketing incentives.
The company ended fiscal 2024 with $3.3 million in net debt and is implementing a new growth strategy for 2025, focusing on profitable contract manufacturing and relaunching reduced nicotine VLN® cigarette business through both branded and private label partner products.
22nd Century Group (Nasdaq: XXII) has scheduled its Fourth Quarter and Full Year 2024 financial results announcement for March 20, 2025. The company will release its earnings report via press release at 6:00 AM ET, followed by a webcast at 8:00 AM ET.
During the webcast, Chairman and CEO Larry Firestone and CFO Dan Otto will present the financial results, discuss recent developments, and outline plans for 2025. The event will be accessible through the company's Investor Relations website, with both live and archived versions available.
22nd Century Group (XXII) has signed an agreement with Smoker Friendly to launch reduced nicotine content cigarette products under the Smoker Friendly VLN brand, marking their first VLN partner brand agreement. The partnership includes both Smoker Friendly VLN branded products and 22nd Century's own VLN products in gold and menthol SKUs featuring new VLN branding.
This expansion builds on their existing 10-year customer relationship, following the recent addition of Smoker Friendly Black Label style cigarette. The companies are seeking state approvals and expect to begin shipping in the second quarter of 2025.
22nd Century Group (Nasdaq: XXII), a tobacco products company focused on nicotine control and consumer choice, has announced its upcoming presentation at the Emerging Growth Conference. CEO Larry Firestone will deliver the presentation on February 19, 2025, at 10:50 am Eastern Time.
The presentation will include a company overview followed by a potential Q&A session. Investors can submit questions in advance to Questions@EmergingGrowth.com. The event offers both live attendance through pre-registration and post-event access through archived webcasts available on EmergingGrowth.com and the Emerging Growth YouTube Channel.
22nd Century Group (Nasdaq: XXII) has announced receiving formal written notice from Nasdaq confirming its regained compliance with the exchange's Minimum Bid Price Requirement for continued listing under Rule 5550(a)(2).
CEO Larry Firestone emphasized the importance of maintaining Nasdaq listing standards for stockholders and reaffirmed the company's commitment to creating long-term shareholder value through executing their business plans.
22nd Century Group (NASDAQ: XXII) welcomes FDA's proposed new Tobacco Product Standard that would set a maximum nicotine content of 0.7 mg per gram of tobacco in cigarettes. The company's VLN products, currently available in over 5,000 stores nationwide, are the only FDA-authorized reduced nicotine cigarettes that already comply with this standard.
The FDA projects that by 2100, approximately 48 million youth and young adults would avoid starting smoking due to this regulation. The standard would take effect two years after final approval. VLN cigarettes contain 95% less nicotine than conventional cigarettes, positioning 22nd Century Group advantageously as the only current manufacturer meeting the proposed requirements.
22nd Century Group (NASDAQ: XXII) was featured in a Washington Post article discussing the FDA's proposed policy to mandate reduced nicotine content in cigarettes. The policy, which cleared U.S. Office of Management and Budget review on January 3, 2025, could benefit an estimated 13 million smokers in its first five years.
The company's VLN branded low nicotine cigarettes are the first and only combustible tobacco products with FDA Modified Risk Tobacco Product designation, available in over 5,000 stores nationwide. The products are manufactured using proprietary tobacco strains that can be licensed to other brands, potentially creating a new market category similar to non-alcoholic beverages.
The policy initiative, started in 2017 during the Trump administration, is supported by decades of clinical research using 22nd Century's reduced nicotine content cigarettes, demonstrating that adult smokers can effectively control their smoking habits with these products.
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