Business
22nd Century Group Reports Business Highlights and Financial Results for the Fourth Quarter and Full Year 2021
Secured FDA MRTP Authorization for VLN® King and VLN® Menthol King Reduced Nicotine Content CigarettesAdvancing to U.S. Pilot Market Launch in
About this update from 22nd Century Group, Inc
[{"type":"text","content":"Secured FDA MRTP Authorization for VLN® King and VLN® Menthol King Reduced Nicotine Content CigarettesAdvancing to U.S. Pilot Market Launch in ChicagoAnnounced Circle K as First VLN® Retail Trade PartnerAnnounced South Korea as the First International VLN® LaunchCommenced Hemp/Cannabis Revenue in the Fourth Quarter of 2021Full Year Net Sales Up 10.1% Year-Over-Year BUFFALO, N.Y., March 01, 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 fourth quarter and full year ended December 31, 2021, and provided an update on recent business highlights. The Company will host a live audio webcast today at 10:00 a.m. ET. “The past several months were incredible as 22nd Century transforms from a pure science and contract manufacturing company into a company selling branded VLN® cigarettes, licensing valuable biotechnology IP, and supplying highly specialized plant lines in large and dynamic global end markets,” said James A. Mish, chief executive officer of 22nd Century Group. “We secured our highly-anticipated FDA MRTP designation on December 23, and immediately moved to launch our VLN® pilot program by the end of March. The first VLN® cigarettes packaged with the FDA’s added claim of ‘Helps You Smoke Less’ rolled off our manufacturing lines in late January. Additionally, we have finalized our point-of-sale materials to educate adult smokers about how to use VLN® to change their relationship with highly addictive nicotine cigarettes, and we have worked alongside Circle K to prepare for our first launch in more than 150 metro Chicago stores before rolling VLN® out nationwide. Our mission is to get this product as quickly as possible into the hands of adult smokers, 70% of whom want to quit and are looking for new and innovative products to help them smoke less. “We remain committed to making VLN® products readily available to as broad a market as possible, including both U.S. and international markets,” Mish added. “We expect our first global market shipment and revenue to South Korea will commence by the end of March, and we are dedicated to exploring licensing of our VLN® tobacco and IP as well as partnerships that can help e...