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 (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.
On May 27, 2022, 22nd Century Group, a leading agricultural biotechnology company focused on reducing nicotine tobacco and advanced plant technologies, announced investor meetings at two upcoming conferences in June 2022. The first event is the LD Micro Invitational XII on June 7, 2022, with a presentation scheduled for 8:00 a.m. PT at the Four Seasons Hotel in California. The second event is the 8th Annual Roth London Conference on June 22, 2022, held in London. Investors can schedule meetings through institutional representatives or by contacting the company's investor relations.
22nd Century Group (Nasdaq: XXII) has appointed John J. Miller to lead its reduced nicotine tobacco business. Miller brings over 35 years of experience in the tobacco industry, previously serving as CEO of Swisher International. His role will focus on accelerating revenue growth and market share, particularly with the launch of VLN®, the first FDA-approved reduced nicotine cigarette. The company aims to leverage Miller's expertise to enhance its position in the tobacco harm reduction sector.
22nd Century Group, Inc. (Nasdaq: XXII) announced the acquisition of GVB Biopharma, a leader in hemp-derived active ingredients, effective May 13, 2022. This integration is poised to double the company's revenue, projecting GVB’s 2022 revenue at approximately $48 million, a 58% year-over-year growth. The acquisition enhances 22nd Century’s capabilities in cannabinoid manufacturing and is expected to generate positive cash flow and adjusted EBITDA immediately. GVB holds an estimated 15% market share in hemp-derived active ingredients, bolstering 22nd Century’s footprint in global markets.
22nd Century Group (Nasdaq: XXII) announced the acquisition of GVB Biopharma, significantly enhancing its hemp/cannabis franchise. This strategic move is expected to double the company’s total revenue and provide significant commercial scale. GVB, a leader in hemp-derived active ingredients, projects 2022 revenue of approximately $48 million, representing a 58% year-over-year increase. The acquisition is immediately accretive to adjusted EBITDA and generates positive cash flow from the outset, positioning 22nd Century for robust growth in the rapidly expanding hemp market.
22nd Century Group (Nasdaq: XXII) reported a 33% year-over-year increase in first-quarter net sales, reaching $9.0 million, attributed to boosted contract manufacturing volumes. The company launched its VLN® reduced nicotine cigarettes in over 150 Circle K stores in Chicago and commenced international shipments to South Korea. The FDA's proposed menthol ban may position VLN® Menthol King as the sole menthol cigarette available, enhancing its market potential. However, operating loss increased to $(8.1) million, with total operating expenses rising significantly due to higher consulting and R&D costs.