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.
News for 22nd Century Group, Inc. (Nasdaq: XXII) centers on its role in tobacco harm reduction, regulatory developments, capital structure actions and the commercialization of its VLN® reduced nicotine cigarette platform. Company announcements frequently highlight progress in expanding VLN® and partner VLN® distribution across additional U.S. states and retail chains, including launches with major convenience store operators and authorizations in a large majority of states.
Investors following XXII news will see updates on VLN® regulatory milestones, such as the original FDA Modified Risk Tobacco Product authorization, the filing of the VLN® MRTP renewal application, and the company’s public support for the FDA’s proposed Tobacco Product Standard for Nicotine Yield of Cigarettes and Certain Other Combusted Tobacco Products. Releases also discuss clinical research findings related to very low nicotine content cigarettes, including reductions in daily cigarette consumption and increased quit attempts among smokers using 95% reduced nicotine VLN® products.
Another recurring theme in 22nd Century’s news is financial and corporate developments. The company reports on balance sheet changes such as repayment and termination of senior secured debt, settlement of insurance claims related to prior facility incidents, and the use of non-dilutive cash proceeds as growth capital. News items also cover equity and preferred stock financings, at-the-market offering arrangements, and proposals for reverse stock splits and other shareholder approvals under Nasdaq Listing Rules.
In addition, XXII news includes corporate governance and investor relations events, such as participation in investor conferences, quarterly earnings webcasts, and shareholder letters reviewing strategic progress. For readers tracking the intersection of tobacco regulation, reduced nicotine technology and public company capital markets activity, the XXII news feed provides ongoing context on how 22nd Century is executing its harm reduction-focused strategy.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
22nd Century Group, Inc. (Nasdaq: XXII) announced a groundbreaking three-year agreement with Cookies, the leading global cannabis brand. This partnership creates a comprehensive CDMO+D solution, aimed at meeting the rising demand for CBD products. It allows 22nd Century to utilize its entire value chain, from receptor science to retail distribution. The deal is expected to significantly boost Cookies’ non-Delta-9 THC product sales, with 22nd Century's CPG sales team targeting approximately 60,000 retail outlets. This collaboration is poised to enhance both companies' market presence.
22nd Century Group, Inc. (Nasdaq: XXII) has accelerated the launch of its VLN® reduced nicotine cigarettes, securing key national distribution agreements in Texas, California, and Florida. The company reported Q4 2022 net revenues of $19.2 million, a 141% increase year-over-year. Despite incurring a net loss of $26.3 million, the strong revenue from both tobacco and hemp/cannabis businesses signals potential cash-positive operations by mid-2024. A new $21.1 million senior credit facility will enhance working capital to support growth. The company is leveraging high consumer demand and expanding its market reach through strategic partnerships, intending to penetrate in up to 18 states by year-end 2023.
22nd Century Group, Inc. (Nasdaq: XXII) announced a $21 million senior secured debenture financing to support increased working capital needs for its VLN® and GVB business lines. The financing will bear cash interest at 7% per annum and includes early redemption options. The company aims to launch VLN® in up to 18 states by 2023 and anticipates significant revenue growth. GVB's customer demand for CBD products continues to rise, solidifying its market position in North America.
22nd Century Group (Nasdaq: XXII) will participate in one-on-one meetings at the 35th Annual Roth Conference from March 12-14, 2023, in Orange County, California. This leading biotechnology company focuses on reduced nicotine tobacco and advanced plant technologies. Investors interested in meetings can contact their Roth representative or reach out to Matt Kreps at mkreps@xxiicentury.com.
22nd Century has pioneered proprietary reduced nicotine content tobacco and received the first FDA MRTP authorization for a combustible cigarette in December 2021, emphasizing its commitment to tobacco harm reduction.