Business
22nd Century Group Reports Business Highlights and Financial Results for the Third Quarter 2021
Meeting Held October 14 with Senior Level Staff at FDACompany’s Confidence in a Positive MRTP Application Outcome and Timing at Its Highest LevelMonetizing
About this update from 22nd Century Group, Inc
[{"type":"text","content":"Meeting Held October 14 with Senior Level Staff at FDACompany’s Confidence in a Positive MRTP Application Outcome and Timing at Its Highest LevelMonetizing Hemp/Cannabis Plant Lines and IP Beginning in the Fourth Quarter of 2021Introduced Hops as the Third Plant-Based Franchise, Expanding Total Addressable Markets to $1.3 TrillionRecord Year-to-Date Net Sales of $23.0 Million, Up 11% From Year-To-Date of 2020Executing From a Strong Financial Position with Cash and Cash Equivalents of $55.2 Million as of September 30, 2021Uplisted Common Shares to the Nasdaq Capital Market (“Nasdaq”) Under the Symbol, “XXII” BUFFALO, N.Y., Nov. 04, 2021 (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 plant science, today reported results for the third quarter ended September 30, 2021, and provided an update on recent business highlights. The Company will host a live audio webcast today at 10:00 a.m. ET. “I am proud of the tremendous progress we have made during 2021 as we complete the final step to MRTP authorization of our VLN® reduced nicotine tobacco cigarettes and begin to monetize our highly disruptive hemp/cannabis plant lines and IP,” said James A. Mish, chief executive officer of 22nd Century Group. Mish added, “We are closer than ever to accomplishing our mission to reduce the harm caused by smoking. Our decision to maintain a collaborative approach with the FDA is moving our MRTP application forward. Based on our recent positive discussion with senior-level staff at FDA on October 14, our confidence in our MRTP application outcome and timing is at its highest level. We are ready to immediately scale production of our VLN® products for launch in both the U.S. and international markets, and we are eager to bring VLN® to adult smokers in the U.S. and globally to help address the overwhelming amount of death and disease caused by smoking.” Key Financial and Business Highlights Tobacco Franchise Securing MRTP designation for VLN® remains 22nd Century’s number one priority. 22nd Century possesses the expertise to navigate the MRTP application process to a successful conclusion as evidenced by the positive and collaborative exchanges with FDA and throughout the process. The Company hel...