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, Inc. (Nasdaq: XXII) announced a groundbreaking three-year agreement with Cookies, the leading global cannabis brand. This partnership creates a comprehensive CDMO+D solution, aimed at meeting the rising demand for CBD products. It allows 22nd Century to utilize its entire value chain, from receptor science to retail distribution. The deal is expected to significantly boost Cookies’ non-Delta-9 THC product sales, with 22nd Century's CPG sales team targeting approximately 60,000 retail outlets. This collaboration is poised to enhance both companies' market presence.
22nd Century Group, Inc. (Nasdaq: XXII) has accelerated the launch of its VLN® reduced nicotine cigarettes, securing key national distribution agreements in Texas, California, and Florida. The company reported Q4 2022 net revenues of $19.2 million, a 141% increase year-over-year. Despite incurring a net loss of $26.3 million, the strong revenue from both tobacco and hemp/cannabis businesses signals potential cash-positive operations by mid-2024. A new $21.1 million senior credit facility will enhance working capital to support growth. The company is leveraging high consumer demand and expanding its market reach through strategic partnerships, intending to penetrate in up to 18 states by year-end 2023.
22nd Century Group, Inc. (Nasdaq: XXII) announced a $21 million senior secured debenture financing to support increased working capital needs for its VLN® and GVB business lines. The financing will bear cash interest at 7% per annum and includes early redemption options. The company aims to launch VLN® in up to 18 states by 2023 and anticipates significant revenue growth. GVB's customer demand for CBD products continues to rise, solidifying its market position in North America.
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