Business
22nd Century Group Regains Compliance with NASDAQ Minimum Bid Price Rule
Continues Focus on Growing Sales with New Contracts, Progress Toward Cash Positive Operations Mocksville, North Carolina--(Newsfile Corp. - April 18, 2024) -
About this update from 22nd Century Group, Inc
[{"type":"text","content":"Continues Focus on Growing Sales with New Contracts, Progress Toward Cash Positive Operations\nMocksville, North Carolina--(Newsfile Corp. - April 18, 2024) - 22nd Century Group, Inc. (Nasdaq: XXII), a tobacco products company focused on nicotine harm reduction, today announced that it has received notice from The Nasdaq Stock Market LLC (\"Nasdaq\") that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the \"Rule\") for continued listing.\nSaid Larry Firestone, Chairman and CEO: \"We are pleased to regain compliance with the Nasdaq listing standards related to minimum bid price, another win in our efforts to improve our business step by step, every day, with steady progress on all fronts. We have also recently announced multiple new contracts to drive our manufacturing and distribution volumes as we continue our work to scale up our base business, enhance margins and move steadily toward profitability.\"\nAbout 22nd Century Group, Inc.\n22nd Century Group, Inc. (Nasdaq: XXII) is an agricultural biotechnology company focused on tobacco harm reduction, reduced nicotine tobacco and improving health and wellness through plant science. With dozens of patents allowing it to control nicotine biosynthesis in the tobacco plant, the Company has developed proprietary reduced nicotine content (RNC) tobacco plants and cigarettes, which have become the cornerstone of the FDA's Comprehensive Plan to address the widespread death and disease caused by smoking. The Company received the first and only FDA Modified Risk Tobacco Product (MRTP) authorization for a combustible cigarette in December 2021. 22nd Century uses modern plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding to deliver solutions for the life science and consumer products industries by creating new, proprietary plants with optimized alkaloid and flavonoid profiles as well as improved yields and valuable agronomic traits.\nLearn more at xxiicentury.com, on Twitter, on LinkedIn, and on YouTube.\nLearn more about VLN® at tryvln.com.\nCautionary Note Regarding Forward-Looking Statements\nExcept for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements, including but not limited to our full year busine...