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 has appointed Dr. Calvin Treat as Chief Scientific Officer, effective May 23, 2022, to enhance its expertise in plant-based biotechnology. Dr. Treat joins with extensive experience from Bayer, where he managed over $2 billion in R&D for crops. He aims to lead the company’s expanding scientific operations across its alkaloid plant franchises, focusing on tobacco, hemp/cannabis, and hops. Under his leadership, the company plans to leverage its patented technologies and global partnerships in the $1.3 trillion market for plant science.
22nd Century Group (Nasdaq: XXII) announced that its VLN® cigarettes will be listed in the Illinois Directory of Participating Manufacturers effective April 4, 2022. This registration allows distribution of the FDA-authorized reduced nicotine cigarettes as part of a pilot program in Chicagoland. VLN® cigarettes contain 95% less nicotine and are designed to help adult smokers reduce consumption. A pilot program is set to commence in a market with a smoking rate of 15.5%, above the national average.
Roth Capital Partners has initiated research coverage on 22nd Century Group (Nasdaq: XXII), a leader in agricultural biotechnology focused on tobacco harm reduction.
CEO James A. Mish and CFO Richard Fitzgerald will host meetings on March 14-15, 2022, at the Roth Capital Annual Conference in Laguna Niguel, California.
The company is known for its reduced nicotine tobacco products and received the first FDA MRTP authorization for a combustible cigarette in December 2021, aiming to improve health through modern plant science.
22nd Century Group (Nasdaq: XXII) announced FDA MRTP authorization for VLN® cigarettes, enabling a U.S. pilot market launch in Chicago with Circle K as the first retail partner. The company reported a 10.1% increase in full-year net sales, reaching $30.9 million. Despite rising operational costs and a net loss of $(32.6) million, the firm has commenced hemp/cannabis revenue and is expanding its international reach, beginning with South Korea. The company is positioned to disrupt the tobacco market with its reduced nicotine products.
22nd Century Group, Inc. (Nasdaq: XXII) announced the upcoming launch of its VLN® reduced nicotine content cigarettes in South Korea's $1.6 billion tobacco market, targeting the high smoking rate in the country. The first revenue from shipments is expected by the end of March 2022. The government of South Korea has been promoting smoking cessation, enhancing the market potential for VLN®. The company is also proceeding to launch in additional Asian and European markets while leveraging its MRTP authorization in the U.S. to establish a foothold in the $80 billion tobacco market.
The FDA's rulemaking could position 22nd Century Group's VLN® Menthol King as the only menthol cigarette available, following the FDA's commitment to ban menthol cigarettes. The VLN® brand offers reduced nicotine content, with 95% less nicotine than leading brands, aligning with the FDA's push to lower nicotine levels in cigarettes. CEO James A. Mish highlighted the potential of VLN® to help smokers transition away from addiction. Authorized by the FDA as a modified risk tobacco product, VLN® aims to provide a healthier alternative in a $80 billion industry.
22nd Century Group (Nasdaq: XXII) has achieved a significant breakthrough in hemp/cannabis plant research through collaboration with KeyGene. The company successfully transformed the hemp/cannabis genome using proprietary technology, enabling targeted DNA insertion to enhance traits like cannabinoid content and yield.
This advancement opens new revenue opportunities and strengthens 22nd Century's position in the emerging hemp/cannabis genetics field, allowing for faster, cost-effective creation of high-value commercial plant lines.
22nd Century Group has received USDA Organic Certification for its hemp production at Needle Rock Farms, enhancing its ability to command premium pricing and margins on hemp biomass. This certification supports the company's development of innovative hemp/cannabis plant lines, catering to specific customer requirements more efficiently than traditional breeding methods. The company completed the harvest of its initial customized hemp lines in late 2021 and plans to expand its offerings in 2022, positioning itself for growth in the expanding hemp market driven by legalization efforts.
22nd Century Group (Nasdaq: XXII) announced a live webcast on March 1, 2022, at 10:00 AM ET, to discuss its 2021 fourth quarter and full-year financial results. The results will be released at 6:00 AM ET that day. CEO James A. Mish and other executives will review financials and advancements in the company's tobacco harm reduction initiatives. An interactive Q&A session will follow, allowing analysts and shareholders to engage with management. The webcast will be available on the company's Investor Relations page.
22nd Century Group (Nasdaq: XXII) supports the FDA's intent to ban menthol in combustible cigarettes, emphasizing the need for a non-addictive alternative. The company believes its VLN® Menthol King, with 95% less nicotine, could be exempt, aiding transitions for current menthol smokers. The FDA has authorized the VLN® product line and recognizes its role in reducing nicotine consumption. The tobacco market is significant, estimated at $80 billion.