22Nd Century Stock Price, News & Analysis

22nd Century Group (XXII) has announced strategic partnerships with leading plant breeders and a collaboration with Aurora Cannabis to enhance its hemp/cannabis initiatives. The company has established a Canadian subsidiary to expand its operations and aims to monetize its biosynthesis intellectual property in late 2021. A $40 million registered direct offering is expected to support growth initiatives. The firm is positioned to capitalize on stable cannabinoid levels in cannabis plants and is actively pursuing multiple revenue streams in its cannabis franchise.

22nd Century Group (NYSE American: XXII) announced a definitive agreement to sell 10 million shares at $4.00 each, totaling $40 million in gross proceeds. The offering targets strategic objectives, including research and development, capital expenditures, and commercialization. The financing, set to close around June 9, 2021, is facilitated by Cowen and Company, LLC. The net proceeds will support the company's plant franchises and its mission to reduce tobacco harm and enhance hemp/cannabis offerings.

22nd Century Group (NYSE American: XXII) announced its participation in several upcoming virtual investor conferences in May and June 2021. Key events include a fireside chat at the Stephens Food and Ag Disrupted Conference on May 26, a presentation at the Benzinga Cannabis Capital Conference on June 3, and participation in the 2021 LD Micro Invitational XI Conference on June 10. Investors can access live webcasts through the Company’s Investor Relations website and may request one-on-one meetings with representatives.

22nd Century Group (NYSE American: XXII) addresses health disparities from tobacco addiction, particularly in minority communities. At the FDLI Annual Conference on May 19, 2021, VP John Pritchard will discuss how reduced nicotine content in cigarettes could lower addiction rates. The need for FDA regulation is emphasized, including capping nicotine levels to create non-addictive products. The company’s VLN® King cigarettes meet this potential FDA mandate. Public health experts join the discussion, pushing for expedited actions to address nicotine's impact on health equity.

22nd Century reported Q1 2021 net sales of $6.8 million, comparable to $7.1 million in Q1 2020. The gross profit increased by 125% to $647,000, while the net loss expanded to $5.0 million from $4.0 million year-over-year. The FDA's review process for the Modified Risk Tobacco Product (MRTP) designation of its VLN® cigarettes is nearing conclusion, with plans for a commercial launch within 90 days post-authorization. Cash reserves improved to $30.9 million, supporting growth initiatives in tobacco and hemp/cannabis markets. The company anticipates a favorable regulatory environment for cannabis moving forward.

22nd Century Group (NYSE American: XXII) announced significant advancements in its testing capabilities, estimating a 90% reduction in costs and a turnaround time improvement from weeks to hours for its VLN® reduced nicotine tobacco products. The new in-house laboratory will enhance product quality and testing consistency while supporting the anticipated demand for VLN® cigarettes. In preparation for the FDA's Modified Risk Tobacco Product (MRTP) application, the company aims for ISO/IEC 17025 accreditation, demonstrating its commitment to high-quality testing standards.

22nd Century Group has expanded its partnership with KeyGene to enhance research on valuable hemp/cannabis varieties and other plant franchises. This agreement aims to accelerate the development of new plant lines across three franchises, with a focus on commercializing intellectual property in two years. The collaboration supports gene modification and molecular breeding, aiming to create unique cannabinoid traits. Additionally, the partnership is expected to help secure four of the five key partnerships needed in the cannabinoid value chain, positioning XXII for substantial market opportunities.

22nd Century Group has praised the FDA's decision to initiate the rulemaking process to ban menthol in cigarettes, marking a significant step towards reducing addiction and youth smoking. The company anticipates further advancements in nicotine regulation, with the FDA expected to propose a nicotine cap soon. 22nd Century is close to obtaining Modified Risk Tobacco Product (MRTP) authorization for its reduced nicotine content cigarettes, vital for helping current smokers transition away from traditional menthol cigarettes. The company aims to address tobacco-related health disparities through its innovative products.

22nd Century Group, Inc. (NYSE American: XXII) supports Congresswoman Gwen Moore's call to the federal government for legislation to reduce nicotine levels in cigarettes to minimally or non-addictive levels. The company is ready to deliver its VLN® reduced nicotine content cigarette in alignment with FDA proposals. VLN® offers 95% less nicotine than traditional cigarettes. The company aims to address health disparities among minority communities, with high smoking rates especially among low-income African-Americans. 22nd Century believes it is close to obtaining a Modified Risk Tobacco Product designation from the FDA.