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.
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.
22nd Century Group, Inc. (Nasdaq: XXII) supports the FDA's menthol cigarette ban, anticipating that its VLN® Menthol King reduced nicotine cigarettes will be exempted. This product contains 95% less nicotine than conventional cigarettes, helping smokers transition away from addiction. The FDA recognizes VLN® as integral to its public health mission, marking it as the only reduced nicotine menthol cigarette available. The company is positioned to capture market opportunities in a $80 billion industry, with menthol cigarettes comprising nearly 40% of U.S. sales.
22nd Century Group (Nasdaq: XXII), an agricultural biotechnology firm, issued its annual letter to shareholders, highlighting its VLN® reduced nicotine cigarettes, which received FDA authorization as a Modified Risk Tobacco Product. The company launched a pilot in Chicago to refine marketing for its VLN® brand, targeting over 1.2 million smokers. Further, it plans international expansion into South Korea while advancing its hemp and hops sectors, securing significant revenue and market opportunities. The company's solid financials include a $40 million offering and successful uplisting to Nasdaq.
22nd Century Group, Inc. (Nasdaq: XXII), an agricultural biotechnology company, will host virtual meetings with investors at the A.G.P./Alliance Global Partners Spring Consumer Cannabis Conference on May 3, 2022. CEO James A. Mish and CFO Richard Fitzgerald will represent the company. Institutional investors can schedule meetings through their Alliance Global Partners contact or by reaching out to the investor relations team. 22nd Century focuses on tobacco harm reduction through reduced nicotine tobacco and holds patents for nicotine biosynthesis control. The company received FDA authorization for a reduced nicotine cigarette in December 2021.
22nd Century Group, Inc. (Nasdaq: XXII) will host a webcast on May 5, 2022, at 10:00 AM ET to discuss its first quarter 2022 results. A press release detailing these results will be issued at 6:00 AM ET on the same day. The webcast will feature CEO James A. Mish, COO Michael Zercher, and CFO Richard Fitzgerald, who will review financials and progress in the company’s three franchises. The interactive Q&A session will allow participants to ask questions. All materials will be accessible on the company's Investor Relations website.
22nd Century Group (Nasdaq: XXII) has launched its VLN® cigarettes, which contain 95% less nicotine than standard cigarettes, in over 150 Circle K stores in Chicagoland. This marks the first U.S. sales of VLN®, which is FDA-approved as a modified risk tobacco product, aimed at helping adult smokers reduce their nicotine consumption. Extensive research indicates that using VLN® can lead to significant reductions in cravings and daily cigarette intake. The pilot program aims to expand nationwide, leveraging the high smoking rate in Illinois, where 15.5% of adults smoke.