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.
22nd Century Group Inc. develops and commercializes reduced-nicotine tobacco products built on proprietary plant biotechnology. Its VLN® combustible cigarette products use low-nicotine tobacco and are described in company materials as FDA-authorized reduced nicotine cigarettes in the United States. Company updates commonly address VLN retail distribution, state authorizations, PMTA-related product expansion, licensing strategy, tobacco-variety research and engagement with FDA and public-health stakeholders.
News also covers operating results for the tobacco business, including branded VLN products, contract manufacturing volumes, filtered cigars and other distributed tobacco products. Recent company reporting frames results around commercial expansion, cost management, higher-margin branded products and the completed exit from the hemp/cannabis business.
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.
22nd Century Group (Nasdaq: XXII) announced the production of the first cartons of VLN® King and VLN® Menthol King Cigarettes for retail sale, marking a significant milestone for the company. The VLN® cigarettes contain 95% less nicotine than leading brands and have received FDA MRTP designation. CEO James A. Mish emphasized the importance of this product in aiding adult smokers to reduce nicotine dependency. The company is also expanding its manufacturing capabilities to support a national launch after the pilot program.
22nd Century Group, Inc. (XXII) has appointed James A. Mish to its Board of Directors, enhancing the board's scientific and commercialization expertise. Mish, who has been CEO since June 2020, brings extensive experience in developing consumer products and navigating regulatory landscapes. His appointment precedes the launch of the company’s reduced nicotine tobacco and modified hemp products. This strategic move aims to strengthen the company's market position during a transformative period and contribute positively to its strategic initiatives.
On January 18, 2022, 22nd Century Group announced that the FDA authorized its VLN® King and VLN® Menthol King cigarettes as the first reduced nicotine content (RNC) cigarettes with a Modified Risk Tobacco Product designation, adding the claim "Helps You Smoke Less" on packaging. A pilot launch with a major retail partner is set for March 2022. This groundbreaking decision could shift the smoking landscape by providing smokers with a viable alternative aimed at reducing nicotine dependence, in a U.S. tobacco market worth around $80 billion.
22nd Century Group, Inc. (Nasdaq: XXII) announced participation in two fireside chat events on January 5, hosted by Alliance Global Partners and Cowen. Management will include CEO James A. Mish and CFO Richard Fitzgerald. The discussions will cover the FDA's recent authorization of the company's VLN® King and VLN® Menthol King reduced nicotine cigarettes as Modified Risk Tobacco Products. VLN® contains 95% less nicotine than conventional cigarettes, aiming to reduce nicotine exposure and dependence among smokers.