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.
22nd Century Group, Inc. (XXII) has filed a U.S. Drug Master File (DMF) for pharmaceutical-grade cannabidiol (CBD) active pharmaceutical ingredients (API) with the FDA. This filing underscores the company's commitment to providing high-quality CBD ingredients to pharmaceutical and over-the-counter markets. CEO James A. Mish emphasized the importance of this move in meeting regulatory demands. In addition, 22nd Century has partnered with Cannabinoid API Solutions and Transo-Pharm for global marketing and distribution, tapping into a $1 billion cannabinoid pharmaceutical market.
22nd Century Group has opened a new distribution facility in the Netherlands to enhance access to its hemp/cannabis products in Europe, the Middle East, and Africa.
This facility aims to optimize transaction flow and improve tax and customs treatment, as well as reduce delivery time to partners.
The company is increasing manufacturing capacity in the U.S. to meet growing European demand, projected to reach €3.2 billion by 2025. CEO James A. Mish emphasized the facility's potential to capture more market share and scale operations in a rapidly expanding industry.
22nd Century Group (Nasdaq: XXII) announced its participation as an exhibitor at MJBizCon in Las Vegas from November 16 to 18, 2022. The company aims to showcase its advancements in reduced nicotine tobacco and plant technologies through its GVB Biopharma subsidiary. CEO James A. Mish expressed excitement about the opportunity to demonstrate their expertise in cannabinoid extracts and contract manufacturing. GVB Biopharma is recognized as a leading supplier of cannabinoid extracts in North America with a significant market share.
22nd Century Group, Inc. (Nasdaq: XXII), an agricultural biotechnology firm, has announced its participation in upcoming investor conferences. The events will include one-on-one meetings at the Roth 2nd Annual AgTech Answers Event on November 15, 2022, and the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022. Investors interested in meeting with management should contact Roth and Craig-Hallum representatives to arrange meetings. 22nd Century focuses on tobacco harm reduction and innovative plant technologies.
22nd Century Group, Inc. (Nasdaq: XXII) reported third quarter 2022 net sales of $19.4 million, a 148% increase from the same period in 2021. This growth is attributed to increased contract manufacturing volumes and revenues from the recently acquired GVB Biopharma. The company is expanding its reduced nicotine tobacco product, VLN®, into five states, with plans to reach 18 states within a year. Despite a net loss of $13.1 million, the company maintains a strong balance sheet with $43.7 million in cash, supporting strategic initiatives for expansion.
22nd Century Group, Inc. (Nasdaq: XXII) has announced findings from a recent study demonstrating that its reduced nicotine content (RNC) cigarettes significantly aid in smoking cessation and lower toxicant exposure without negatively affecting mental health. The study involved adult smokers with mood or anxiety disorders, showing reduced nicotine dependence and cigarette consumption among those using RNC cigarettes. CEO James A. Mish emphasized the positive public health implications of reduced nicotine policies and their potential to save millions of lives.
22nd Century Group (Nasdaq: XXII) will release its third quarter 2022 financial results on November 8, 2022, at 6:00 a.m. ET. A conference call will follow at 10:00 a.m. ET, featuring CEO James A. Mish, President John Miller, and CFO Hugh Kinsman. They will discuss company updates and the financial results. Investors can participate in a Q&A session through a webcast. The live event will be available on 22nd Century's Investor Relations website, along with an archived replay.
22nd Century Group, Inc. (XXII) announces the expansion of its VLN® reduced nicotine cigarettes into Utah, Arizona, and New Mexico, following the Colorado launch. The company aims to tap into a massive market, emphasizing that every 1% of the U.S. market correlates to approximately $800 million in retail sales. With favorable MRTP excise tax programs in these states, 22nd Century plans to utilize established partners for efficient distribution. VLN® products are designed to help adult smokers reduce their nicotine intake, with previous pilot programs demonstrating success in consumer recommendations.
22nd Century Group, Inc. (Nasdaq: XXII) has announced that CEO James A. Mish will present at the LD Micro Main Event Investor Conference in Los Angeles on October 26, 2022, at 11:00 a.m. PT. The event is highly anticipated, with limited space for investor meetings due to demand. Institutional investors can arrange meetings through LD Micro representatives or by contacting the investor relations team. A live and archived webcast of the presentation will be available on the company's Investor Relations website shortly after the event.
22nd Century Group (Nasdaq: XXII) announced that CEO James A. Mish will present at the 7th Annual Dawson James Small Cap Growth Conference on October 12, 2022, in Jupiter, Florida. The company's presentation is scheduled for 10:30 AM ET. Interested institutional investors can request meetings with management through their representatives or by contacting the investor relations team at investorrelations@xxiicentury.com. 22nd Century Group specializes in agricultural biotechnology, focusing on reduced nicotine tobacco, hemp, and cannabis technologies.