Business
22nd Century Group Reports Business Highlights and Financial Results for the First Quarter 2021
Key Business and Financial Highlights 22nd Century is advancing commercial opportunities across $1.3 trillion global addressable markets in tobacco,
About this update from 22nd Century Group, Inc
[{"type":"text","content":"Key Business and Financial Highlights 22nd Century is advancing commercial opportunities across $1.3 trillion global addressable markets in tobacco, hemp/cannabis, and a third plant-based franchise.The significant increase in the Company’s share price since reporting fourth quarter 2020 results in March 2021 is a testament 22nd Century’s commitment to its shareholders.The Company believes it will be added to the Russell 2000®, Russell 3000®, and Russell Global Indexes as part of the FTSE Russell (Russell) annual reconstitution of its U.S. and global equity indexes effective June 25, 2021. The Russell U.S. Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.Securing Modified Risk Tobacco Product (MRTP) authorization for VLN® remains 22nd Century’s number one priority. The Company continues to have high confidence that its MRTP application is in the final stages of review with the FDA. There are no outstanding requests for information from the FDA.22nd Century is fully prepared for the commercial launch of its VLN® King and VLN® Menthol King products within 90 days of securing the MRTP designation, including marketing campaigns to generate brand and proposition awareness.With the White House and Democrats in control of both the Senate and the House of Representatives, the Company believes there will be a continued high focus on improving public health moving forward. The Biden Administration is already demonstrating its willingness to prioritize critical tobacco control initiatives. The FDA’s recent commitment to eliminate the use of menthol in highly addictive cigarettes demonstrates the Agency’s willingness to use its regulatory authority to aggressively address cigarette addiction and youth smoking initiation with a menthol product standard that will save lives and pave the way for a reduced nicotine product standard. 22nd Century believes that VLN® Menthol King cigarettes will remain on the market after a menthol rule is implemented to help menthol smokers reduce their consumption and quit highly addictive menthol cigarettes while mitigating risks of illicit markets and product adulteration.22nd Century believes that the FDA is actively considering a product standard that would require all cigarettes be made “minimally or non-addictive”, ...