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 (NYSE American: XXII) announced its common stock uplisting to the Nasdaq Capital Market, effective August 16, 2021. This strategic move aims to enhance visibility to institutional investors and expand exposure to the hemp/cannabis sector as the industry progresses. CEO James A. Mish emphasized the alignment with high-achieving companies, reinforcing their commitment to reducing smoking harm through reduced nicotine tobacco products, and advancing innovations in hemp/cannabis technology.
22nd Century Group (XXII) reported record second quarter net sales of $8.4 million, up over 30% from last year. The company holds a strong cash position of $62.3 million as of June 30, 2021, enhancing its readiness for the upcoming VLN® tobacco product launch and the international expansion planned for early 2022. The FDA's review of the Modified Risk Tobacco Product (MRTP) application is progressing, with no outstanding inquiries. First revenue from its hemp/cannabis franchise is expected in Q3 2021.
22nd Century Group (NYSE American: XXII) has announced a new partnership with a leading tobacco exporter, prompting increased investment in production and testing equipment, as well as staff hiring at its North Carolina facility. The company is positioning itself for the global launch of its VLN® reduced nicotine cigarettes, anticipating FDA authorization soon. Improved testing capabilities are expected to lower production costs significantly. The firm is also seeking to expand its distribution channels.
22nd Century Group, with ticker XXII, announced a live webcast on August 5, 2021, at 10:00 AM ET to discuss its second quarter 2021 results. The company will release its results on the same day at 6:00 AM ET. CEO James A. Mish, COO Michael Zercher, and CFO John Franzino will present the results and discuss growth opportunities in the $1.3 trillion addressable market. An interactive Q&A session will follow. Interested parties can access the webcast via the company’s Investor Relations website. 22nd Century focuses on reducing tobacco harm and advancing hemp/cannabis research.
22nd Century Group (NYSE American: XXII) has established strategic partnerships with leading commercial-scale plant breeders, which will enhance its capabilities in alkaloid-based plant breeding and cultivation. These collaborations are aimed at optimizing development cycles from 7-10 years to just 2 years, crucial for meeting the growing demand for stable hemp/cannabis genetics. The company anticipates monetizing its new plant lines and existing intellectual property in the second half of 2021, signaling multiple revenue streams ahead.
22nd Century Group, Inc. (NYSE American: XXII) has acquired Needle Rock Farms in Colorado, valued at $2.2 million, as part of a restructuring agreement with Panacea Life Sciences. The deal includes exchanging a $7 million note for ownership and a new $4.3 million note secured by Panacea’s operations building, appraised at $10.7 million. Additionally, $7 million in Series B Preferred Stock will be converted into 91 million shares of Exactus, Inc.. This strategic move aims to enhance 22nd Century's cannabis capabilities and generate revenue by the second half of 2021.
22nd Century Group (XXII) reported significant progress under CEO James A. Mish’s leadership in a recent shareholder update. Over the past year, shares have surged by 470%. The company is advancing its Modified Risk Tobacco Product (MRTP) application for the VLN® brand, which could allow for marketing claims of containing '95% Less Nicotine.' Additionally, strategic partnerships in the hemp/cannabis sector and a new Canadian subsidiary are expected to enhance growth. The company aims to capitalize on regulatory changes in tobacco and cannabis markets, with a total addressable market of $1.3 trillion.
22nd Century Group, Inc. (XXII) announced the successful completion of a registered direct offering, selling 10 million shares at $4.00 per share, yielding gross proceeds of $40 million. This capital infusion aims to support various strategic objectives across its plant franchises, including R&D expenses, capital expenditures, and commercialization efforts. The company is positioned to capitalize on recent initiatives in its hemp/cannabis franchise and anticipates continued momentum leading to the launch of its reduced nicotine tobacco product in the near future.
22nd Century Group (NYSE: XXII) announced its inclusion in the Russell 2000®, Russell 3000®, and Russell Global Indexes, effective June 28, 2021. This milestone is seen as a recognition of the company's growth and the confidence in its leadership. The firm aims to leverage its strengths in plant science to address the $1.3 trillion market opportunity across tobacco, hemp/cannabis, and a third plant-based franchise. The inclusion is expected to enhance visibility for investors in the tobacco harm reduction and hemp research sectors.
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.