XXII

22nd Century Group Continues VLN® Expansion, Now Retailing in More Than 5,100 Stores

Retrieved on: 
Wednesday, November 8, 2023
FDA, Health, XXII, Smoking, Century, Pacific Century Group, Disease, Smoker, Nicotine, Tobacco

With these latest additions, 22nd Century Group’s FDA-authorized VLN® reduced nicotine content cigarettes can now be found at more than 5,100 store locations spanning 23 states, including the addition of Washington, Oregon, Kentucky, and Louisiana.

Key Points: 
  • With these latest additions, 22nd Century Group’s FDA-authorized VLN® reduced nicotine content cigarettes can now be found at more than 5,100 store locations spanning 23 states, including the addition of Washington, Oregon, Kentucky, and Louisiana.
  • “The addition of over 500 new VLN® sales locations has propelled us beyond the noteworthy milestone of 5,100 stores.
  • We are pleased that an increasing number of adult smokers now have access to this important product if they are seeking new ways to reduce their smoking habit,” said Miller.
  • VLN® is the first and only FDA authorized combustible cigarette labelled as a tobacco harm reduction product.

22nd Century Group (XXII) Reports Third Quarter 2023 Financial Results

Retrieved on: 
Monday, November 6, 2023
Adjustment, FDA, Research, Biomass, Health, EBITDA, XXII, OMB, Smoking, Death, Tobacco, Century, VLN, Office of Management and Budget, Disease, Pacific Century Group, Marketing, Interim, TD, Public, Smoker, Table, Nicotine, Management, Menthol, MRTP, Insurance, Rare-earth element, Video game, Pharmaceutical industry, Drug, Music, CBD

Sales of VLN were modest in the quarter as the brand is still largely unknown to our target market and our marketing capabilities are limited given our current financial condition,” said John Miller, Interim Chief Executive Officer of 22nd Century Group.

Key Points: 
  • Sales of VLN were modest in the quarter as the brand is still largely unknown to our target market and our marketing capabilities are limited given our current financial condition,” said John Miller, Interim Chief Executive Officer of 22nd Century Group.
  • Gross profit for the third quarter of 2023 was $(2.0) million, as compared to $0.6 million in the prior year period.
  • Adjusted EBITDA posted a third quarter of 2023 loss of $11.2 million, compared to the prior year period loss of $11.0 million, and compared to second quarter of 2023 of $16.0 million.
  • In light of the ongoing strategic alternatives process, as previously disclosed, 22nd Century Group, Inc. will not be holding a conference call event in conjunction with its third-quarter results report.

22nd Century Group (XXII) Supports FDA Policy Advancements, Proposed Menthol Ban Now at OMB

Retrieved on: 
Thursday, October 26, 2023
FDA, Policy, Publishing, Health, White House, US Food Sovereignty Alliance, XXII, OMB, Smoking, Pacific Century Group, Disease, Interim, Public, Smoker, Management, Death, Tobacco

In April 2022, the FDA stated that these proposed policies had the potential to reduce disease and death associated with smoking and support smoking cessation.

Key Points: 
  • In April 2022, the FDA stated that these proposed policies had the potential to reduce disease and death associated with smoking and support smoking cessation.
  • The policy submissions, originally expected earlier this year, are more than a decade in the making.
  • The FDA officially began exploring the concept of a menthol ban in July 2013.
  • “The FDA has taken a significant step forward to enact federal enforcement on these important public health policies,” said John Miller, Interim Chief Executive Officer of 22nd Century Group.

22nd Century Group (XXII) Reduces Debt by $8.1 Million

Retrieved on: 
Wednesday, October 25, 2023
Senior, Credit, Line of credit, Pacific Century Group, XXII, Health, Bank

The reduction reflects a waiver and repayment of the $7.5 million minimum cash balance required under terms of the original debenture agreements, which was held in an escrow account.

Key Points: 
  • The reduction reflects a waiver and repayment of the $7.5 million minimum cash balance required under terms of the original debenture agreements, which was held in an escrow account.
  • The Company also assigned an existing promissory note pertaining to the Company’s previous holdings in Panacea Life Science Holdings as additional consideration in the debt reduction transaction.
  • The reduction in principal amounts owed under the Senior Secured Credit Facility as a result of the amendment and waiver will provide for annual cash interest savings of approximately $0.5 million per year,” said Hugh Kinsman, Chief Financial Officer of 22nd Century Group.
  • Subsequent to the debt reduction, the Company announced the consummation of a public offering with $5.25 million in gross proceeds, which will be used for general operating purposes.

22nd Century Group (XXII) Adds 1,200 Drug Store Locations Selling VLN® in Five States

Retrieved on: 
Tuesday, September 12, 2023
Smoke, VLN, Smoker, Modified risk tobacco product, Nicotine, MRTP, Locator, Pacific Century Group, Sale, Century, XXII, Health, FDA, Smoking, Disease, Tobacco, Online shopping

With this most recent addition, VLN® is available in more than 4,000 stores across 16 states, compared with approximately 1,100 stores at July 1.

Key Points: 
  • With this most recent addition, VLN® is available in more than 4,000 stores across 16 states, compared with approximately 1,100 stores at July 1.
  • “We are excited to launch the first drug store chain selling our FDA authorized VLN® tobacco harm reduction products, adding 1,200 stores across five key state markets to our growing roster of convenience store points of sale,” stated John Miller, interim Chief Executive Officer of 22nd Century Group.
  • 22nd Century Group’s VLN® brand cigarettes are the first and only combustible cigarettes that the FDA has authorized as Modified Risk Tobacco Products (MRTP).
  • To inform adult smokers of the product’s distinctive purpose, the FDA requires 22nd Century to include the statement “Helps You Smoke Less” on every package of VLN® sold.

22nd Century Group Initiates Strategic Alternatives Process for Its Tobacco Assets

Retrieved on: 
Tuesday, September 5, 2023
VLN, TD, Disclosure, Tobacco, Pacific Century Group, Century, XXII, Food

BUFFALO, N.Y., Sept. 05, 2023 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (NASDAQ: XXII) (the “Company”) today announced that its Board of Directors, after consultation with its financial and legal advisors, has initiated a process to evaluate strategic alternatives with respect to the Company’s tobacco assets.

Key Points: 
  • BUFFALO, N.Y., Sept. 05, 2023 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (NASDAQ: XXII) (the “Company”) today announced that its Board of Directors, after consultation with its financial and legal advisors, has initiated a process to evaluate strategic alternatives with respect to the Company’s tobacco assets.
  • The process will include consideration of a range of strategic, operational and financial transactions and alternatives, such as business combinations, asset sales, licensing agreements, alternate financing strategies and other options.
  • After extensive discussion, our Board has determined that the best way to maximize value for shareholders is to comprehensively evaluate the Company's strategic alternatives,” said Nora Sullivan, Chair of the Board of 22nd Century.
  • There is no assurance that the strategic alternatives process will result in the approval or completion of any specific transaction or outcome.

22nd Century Group (XXII) Reports Second Quarter 2023 Financial Results

Retrieved on: 
Monday, August 14, 2023
VLN, Nicotine, Table, Marketing, GVB, Research, Tobacco, Commencement (album), Pacific Century Group, CBG, Sale, Fourth, Old pal, Investment, Cost, Pinnacle, Webcast, XXII, Growth, Century, Health, FDA, Biomass, Letter, Adjustment, Second, Cannabidiol, Drug, Video game, Pharmaceutical industry, Retail, Whaling, Natural gas, Management, Tourism, Rare-earth element, CBD

Net revenues for the second quarter of 2023 were $23.4 million, an increase of 61.8% from the same period in 2022.

Key Points: 
  • Net revenues for the second quarter of 2023 were $23.4 million, an increase of 61.8% from the same period in 2022.
  • Gross profit for the second quarter of 2023 was $(2.3) million as compared to $0.9 million in the prior year period.
  • Gross margin is expected to improve in the second half of 2023 reflecting:
    New CDMO+D contracts to begin shipping product in the second half of 2023.
  • to discuss its second quarter 2023 financial results and business highlights.

22nd Century Group (Nasdaq: XXII) to Announce Second Quarter 2023 Results on August 14, 2023

Retrieved on: 
Monday, August 7, 2023
Webcast, XXII, Health, Q&A, Pacific Century Group, Herb (company), Software

During the webcast, John Miller, interim chief executive officer, and Hugh Kinsman, chief financial officer, will review financial results and discuss progress made in each of the Company’s three franchises.

Key Points: 
  • During the webcast, John Miller, interim chief executive officer, and Hugh Kinsman, chief financial officer, will review financial results and discuss progress made in each of the Company’s three franchises.
  • Following management’s prepared remarks and slide presentation, the Company will host a Q&A session, during which management will accept questions from research analysts.
  • The live and archived webcast and slide presentation will be accessible on the Events web page in the Company's Investor Relations section of the website, at https://ir.xxiicentury.com/events-and-presentations .
  • Please access the website at least 15 minutes prior to the start of the webcast to register and, if necessary, download and install any required software.

New to The Street TV Announces Episode 491 with its Five Business Guest Interviews, Airs on FOX Business Network, Tonight, July 24, 2023, at 10:30 PM PT

Retrieved on: 
Monday, July 24, 2023
Smoke, Sustainability, Travel, Marketing, Fox Business, Corporate governance, MRTP, Tobacco, Vegetable, Wood, Brain, Soil, VRM, Stone Brewing Co., Management, Erectile dysfunction, Transport, Men's Health, Wellness, Telehealth, Business development, Interview, Pacific Century Group, Nicotine, Masa, Gene editing, Go Man Go (radio show), Administration, Coffee, Climate, OEM, FDA, Smoking, COVID-19, Health, Business, Street, Original equipment manufacturer, Carbon, Water, Biophysical environment, Pour-over will, VLN, Tobacco industry, Nutrient, Electric vehicle, Mango, OTCQX, Golf, XXII, LSEV, Television, Vanish

New to The Street's TV episode 491 will air the following five (5) business interviews:

Key Points: 
  • New to The Street's TV episode 491 will air the following five (5) business interviews:
    1).
  • Sustainable Solutions - The Sustainable Green Team, Ltd.'s (OTCQX: SGTM) ($SGTM) interview with Brian Rivera, Director of Administration, and Brain Meier, Chief Operating Officer.
  • The AYRO Vanish utility vehicle is a lightweight product for moving cargo and supplies on resorts, campuses, and other last-mile applications.
  • Kyle tells viewers that Vanish is a high-quality, dependable LSEV with a maximum speed of 25 MPH.

22nd Century Announces Executive Leadership Changes

Retrieved on: 
Monday, July 24, 2023
VLN, Smoker, Vice, BS, Chairperson, High-net-worth individual, Capital market, Lehman Brothers, GVB, Wall Street, C.E. Unterberg, Towbin, Pacific Century Group, EDGAR, Sale, Suite, Prospectus, Equity capital markets, Acquisition, Corporation, Century, XXII, Security (finance), Health, FDA, George Washington University, Smoking, Asterias, Management, Renewable energy

BUFFALO, N.Y., July 24, 2023 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (Nasdaq: XXII), a leading biotechnology company dedicated to improving health with reduced nicotine tobacco, hemp/cannabis and hops advanced plant technologies, announced today that John Miller, who leads the tobacco business unit, has been appointed as interim Chief Executive Officer. James A. Mish, who has served as CEO since June 2020, will continue to serve as a member of the Board of Directors. The Company has secured an additional $11.7 million in gross proceeds from a registered direct financing and announced the commencement of an estimated $15 million annualized cost reduction initiative. Last, 22nd Century appointed Wall Street veteran Andrew (“Andy”) Arno to its Board of Directors as an independent director.

Key Points: 
  • Last, 22nd Century appointed Wall Street veteran Andrew (“Andy”) Arno to its Board of Directors as an independent director.
  • “I have enjoyed advancing the key initiatives of 22nd Century, building an accomplished team of dedicated individuals taking this Company from an R&D organization focused on plant science, to a fully commercial consumer products business,” Mish.
  • 22nd Century entered into definitive agreements with certain investors on July 19 for the purchase and sale of common stock and warrants in a registered direct offering priced above market under Nasdaq rules on such date.
  • Alternatively, you may contact [email protected] for a copy of these documents or contact our principal executive offices at 500 Seneca Street, Suite 507, Buffalo, New York 14204, c/o Corporate Secretary, (716) 270-1523.