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 (NASDAQ: XXII) pioneers plant-based solutions for tobacco harm reduction through advanced biotechnology. This news hub provides investors and stakeholders with essential updates on regulatory milestones, product innovations, and operational developments central to the company's mission of reducing nicotine addiction.
Access authoritative coverage of FDA communications, VLN product advancements, and manufacturing capacity updates. Our curated collection includes earnings reports, patent filings, and scientific research collaborations that demonstrate 22nd Century's leadership in developing reduced-nicotine tobacco products.
Key updates feature the company's Modified Risk Tobacco Product authorization, progress in international market expansion, and innovations in nicotine biosynthesis control. Regular updates ensure informed tracking of this biotechnology firm's unique position at the intersection of public health and commercial tobacco production.
Bookmark this page for streamlined access to verified corporate announcements and analysis-free reporting on 22nd Century's progress in redefining tobacco consumption through science-driven solutions.
22nd Century Group (NASDAQ: XXII) has announced plans to expand distribution of its VLN® 95% reduced nicotine content smoking products. The company aims to reach over 270,000 retail outlets in the US and grow internationally. Based on recent consumer data, 22nd Century is expanding its sales and marketing operations. The company's low nicotine tobacco stock can supply up to $85 million worth of VLN® revenue and positive cash flow.
Key initiatives include:
- Expanding US distribution from 5,100 stores across 26 states to nationwide coverage
- Increasing international sales through partnerships
- Launching flanker brands based on proprietary 95% less nicotine tobacco
- Utilizing existing inventory to manufacture up to 1.4 million cartons of VLN® and flanker brand cigarettes
22nd Century Group (NASDAQ: XXII) has announced an agreement to fund over $1.2 million in intellectual property, licensing, and sponsored research payments to North Carolina State University through 2025. This equity transaction covers all expenses related to patent maintenance, royalty, license, and sponsored research from Q4 2023 through 2025. The payments will be made in three tranches, with the company having the option to pay in equity or cash. Additionally, 22nd Century has extended its field trial activity to 2025. This agreement follows the company's November 2023 deal with NCSU, which brought in additional IP to enhance their reduced nicotine content tobacco capabilities.
22nd Century Group, Inc. (Nasdaq: XXII), a tobacco products company focused on nicotine harm reduction, has announced its participation in the HC Wainwright Conference on September 10, 2024 at the Lotte New York Palace Hotel. The company, known for its VLN® brand with 95% less nicotine, invites investors to register and request meetings with management through their HC Wainwright representatives.
22nd Century Group will also make an updated investor presentation available online at their investor relations website. This conference participation highlights the company's commitment to engaging with investors and showcasing their innovative approach to tobacco harm reduction.
22nd Century Group (NASDAQ: XXII) has raised $1.68 million through a Regulation A offering and private placement of common warrants. The company has also amended its Senior Secured Credit Facility with JGB Partners, suspending certain provisions and limiting monthly redemption rights. These financial moves aim to support the company's focus on scaling its contract manufacturing business and expanding its FDA-authorized VLN® reduced nicotine content product line. The Regulation A offering was priced at $0.57, and the amendments to the debenture agreements will be in effect through December 31, 2024, for the suspension of equity issuance payments, and through July 2025 for the monthly redemption rights.
22nd Century Group (NASDAQ: XXII), a tobacco products company specializing in nicotine harm reduction and contract manufacturing, has announced its participation in the Emerging Growth Virtual Conference on August 21, 2024. The company will provide a brief corporate update during the event at 4:25 PM Eastern Time.
Investors and interested parties can access the live presentation through the events link available on the company's investor relations website at https://ir.xxiicentury.com/. This virtual conference appearance offers an opportunity for 22nd Century Group to showcase its latest developments and strategies in the tobacco industry, particularly in the areas of reduced-risk products and manufacturing services.
22nd Century Group (NASDAQ: XXII) reported Q2 2024 financial results, showing progress towards cash-positive operations by Q1 2025. Net revenues increased 22.8% to $7.9 million, with improved gross profit of $0.6 million. The company significantly reduced its operating loss by 53.8% to $2.0 million and net loss by 61.4% to $2.2 million. EPS improved to $(0.30) from $(1.72) in Q1 2024.
Key highlights include:
- Cigarette revenues up 8% year-over-year to $4.1 million
- Filtered cigar revenues decreased to $3.3 million
- New cigarillo distribution generated $0.6 million in revenue
- VLN® cigarette revenues were negligible, prompting rebranding efforts
The company emphasized its focus on debt reduction and balance sheet improvements to support business operations.
22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company specializing in nicotine harm reduction and contract manufacturing, has announced it will release its 2024 second quarter results on August 13, 2024. The company will host a webcast at 8:00 AM ET to discuss the results, which will be reported in a press release at 6:00 AM ET the same day.
During the webcast, Larry Firestone, chairman and CEO, and Dan Otto, CFO, will review financial results and discuss recent progress. The live and archived webcast will be accessible on the company's Investor Relations website. Participants are advised to access the website at least 15 minutes before the webcast to register and download any necessary software.
22nd Century Group (NASDAQ: XXII) has appointed Robert Manfredonia as Executive Vice President of Sales and Marketing, effective August 1, 2024. Manfredonia brings almost 30 years of experience in regulated consumer products sales and marketing, primarily in the adult beverage industry. CEO Larry Firestone expressed excitement about Manfredonia's deep knowledge and skillset in driving consumer brands, particularly in regulated products like tobacco.
Manfredonia's expertise includes expediting distribution, accelerating volume growth, and building brand enterprise value. He has experience in developing start-up brands, channel segment strategic planning, and retail execution. Previously, he served as Senior Vice President of Retail Corporate Accounts for Bonavita Beverage Group and Eastside Distilling. The company expects Manfredonia to contribute significantly to advancing 22nd Century's branded products, especially the rebranded VLN® cigarettes upon relaunch.
22nd Century Group (NASDAQ: XXII) has entered into a multi-year agreement with Greenbutts to manufacture innovative, biodegradable cigarette filters at their Mocksville, NC facility. Greenbutts' patented technology aims to replace plastic-based filters with water-soluble, plant-based alternatives, addressing the significant environmental issue of cigarette butt litter. With over 6 trillion cigarettes produced annually and 65% of butts littered, these new filters promise a non-toxic, eco-friendly solution. The partnership will support Greenbutts' FDA approval process, with plans for commercial production to follow, potentially integrating these filters into 22nd Century's VLN® reduced nicotine cigarettes and other conventional brands.
22nd Century Group (NASDAQ: XXII) announced an agreement with Nico-Tech Korea for a full-scale commercial rollout of its VLN® reduced nicotine content cigarettes in South Korea.
The decision follows a 2022 pilot test that led to product adjustments to match local preferences. CEO Larry Firestone highlighted South Korea's unique market with high smoking rates and governmental efforts to reduce smoking harms.
VLN® export shipments are expected to begin later this year, with a full launch event planned for Fall 2024. Nico-Tech will handle local marketing and meet minimum order quantities for distribution. South Korea's tobacco market is valued at an estimated $1.6 billion annually, with high smoking prevalence among adult men and a smaller percentage among adult women.
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