Business
22nd Century Group (Nasdaq: XXII) Reports Business Highlights and Financial Results for the First Quarter 2022
Launched VLN® Pilot Program in Chicago with Circle K as First Retail Trade PartnerBegan VLN® Shipments to South Korea for First International LaunchFDA’s
About this update from 22nd Century Group, Inc
[{"type":"text","content":"Launched VLN® Pilot Program in Chicago with Circle K as First Retail Trade PartnerBegan VLN® Shipments to South Korea for First International LaunchFDA’s Proposed Menthol Ban Could Leave VLN® Menthol King as the Only Menthol Cigarette on the MarketAchieved Breakthrough in Hemp/Cannabis Plant Transformation TechnologyFirst Quarter Net Sales $9.0 million, up 33% Year-Over-Year BUFFALO, N.Y., May 05, 2022 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (Nasdaq: XXII), a leading agricultural biotechnology company focused on tobacco harm reduction, reduced nicotine tobacco, and improving health and wellness through modern plant science, today reported results for the first quarter ended March 31, 2022, and provided an update on recent business highlights. The Company will host a live audio webcast today at 10:00 a.m. ET. James A. Mish, chief executive officer of 22nd Century Group, stated: “We are off to an exciting start with our VLN® reduced nicotine content cigarette pilot launch at more than 150 Chicagoland Circle K stores. The recently proposed menthol cigarette ban by the FDA could leave our VLN® Menthol King reduced nicotine cigarettes as the only menthol cigarette on the market, helping adult menthol smokers find an off-ramp from nicotine addiction. Early sales in our Chicago pilot affirm the importance of this approach, with sales of VLN® Menthol King already selling ahead of non-menthol in pilot stores. We fully anticipate an even more favorable regulatory environment as the FDA continues to advance the Agency’s Comprehensive Plan, which includes requiring all cigarettes to be ‘minimally or non-addictive,’ a standard our VLN® King and VLN® Menthol King cigarettes already meet. “As part of the pilot launch, we were highlighted in a Chicago Tribune feature story and received support from the Chicago Medical Society, broadening our initial visibility as we work to put this product in front of as many adult smokers as possible. As the first and only cigarettes designed specifically to ‘Help You Smoke Less,’ it is increasingly clear that VLN® has the potential to dramatically change the tobacco marketplace by offering smokers a real choice in how or even if they consume highly addictive nicotine. “We are particularly excited to partner with Circle K, the second largest convenience store chain in the U.S., as our lead channel partne...