22Nd Century Stock Price, News & Analysis

22nd Century Group, Inc. (XXII) is expanding its VLN® tobacco sales in September, targeting additional stores in Illinois and launching in Colorado through new distribution partnerships. VLN® cigarettes contain 95% less nicotine than traditional cigarettes, promoting a non-addictive smoking option. Partnerships with major retailers like Circle K and Smoker Friendly® will enhance product availability, adding thousands of additional points of sale. The company's strong pilot results in Chicago indicate high demand, aiming to capture a significant share of the $80 billion U.S. tobacco market.

22nd Century Group, Inc. (Nasdaq: XXII) announces that its reduced nicotine content cigarettes, VLN® King and VLN® Menthol King, received the Best New Product award in the cigarette category from Convenience Store News. This recognition reflects consumer demand for alternatives to traditional cigarettes. The company plans to expand its VLN® launch, currently a pilot in Chicago, across Colorado. The Best New Products Awards highlight innovative products in the convenience sector, with judging based on various consumer preferences.

22nd Century Group (Nasdaq: XXII) announced the successful pilot of its VLN® cigarettes in Chicago, which have 95% less nicotine and are FDA-authorized to help smokers reduce consumption. Following positive results, the company plans to expand sales to Colorado. This launch marks a significant step in tobacco harm reduction and positions VLN® as a unique product in the market.

22nd Century Group, Inc. (XXII) reported a strong Q2 2022, with net sales of $14.5 million, up 73% year-over-year. The company exceeded expectations with its VLN® pilot in Chicago, prompting an accelerated launch in Colorado. The recent acquisition of GVB Biopharma is expected to double corporate revenue, enhancing their hemp/cannabis capabilities. The balance sheet was strengthened by a $35 million equity offering. Despite these gains, the operating loss widened to $(10.5 million), and net loss was $(11.5 million) with a net loss per share of $(0.06).

22nd Century Group (XXII) announced a live webcast on August 9, 2022, to discuss its Q2 2022 results. The session is set for 10:00 AM ET, following a press release at 6:00 AM ET. CEO James A. Mish and other executives will review financial outcomes and advancements across the company’s tobacco, hemp/cannabis, and hops sectors. The webcast will include a Q&A session for analysts and interested stakeholders. More information and access to the webcast can be found on the company’s investor relations webpage.

22nd Century Group, Inc. (Nasdaq: XXII) has announced a $35 million above-market financing through a registered direct offering. The company will sell 17,073,175 common stock shares at $2.05 each and issue unregistered warrants for the same number of shares. The funds will be used to support the launch of VLN® reduced nicotine cigarettes across additional U.S. markets. Additionally, the company provided updates on the integration of GVB Biopharma, which has progressed ahead of schedule, promising revenue growth opportunities.

22nd Century Group, Inc. (Nasdaq: XXII) announced a registered direct offering, selling 17,073,175 shares of common stock at $2.05 per share, raising approximately $35 million. The offering includes unregistered warrants for the same number of shares, exercisable at $2.05, expiring five years post-issuance. Proceeds are earmarked for expanding the launch of VLN® reduced nicotine cigarettes, R&D, and corporate purposes. Notably, the offering exceeds market pricing, highlighting investor confidence.

22nd Century Group (Nasdaq: XXII) announces the pilot sales of VLN® cigarettes, which feature 95% reduced nicotine content, aligning with the FDA's proposed rule to reduce nicotine in all cigarettes. The pilot program, conducted in Circle K Stores in the Chicago area, shows strong interest among adult smokers seeking to manage their nicotine consumption. The FDA has granted Modified Risk Tobacco Product (MRTP) authorization, allowing VLN® to be marketed with claims such as 'Helps You Smoke Less'. The company aims for a national launch to assist the 70% of smokers who wish to quit.

22nd Century Group (Nasdaq: XXII) appointed R. Hugh Kinsman as CFO, expanding his role from GVB Biopharma, acquired in May 2022. CEO James A. Mish highlighted Kinsman's extensive financial experience and his contributions to integrating GVB into 22nd Century's operations. The company aims to advance its tobacco harm reduction strategies and enhance its hemp/cannabis franchise. Kinsman previously held senior executive roles and has a strong background in public company finance. 22nd Century focuses on reducing nicotine content in tobacco and improving health through plant biotechnology.