Trade 22nd Century - XXII CFD

22nd Century Company profile

22nd Century Group is a biotechnology company that focuses on developing lower nicotine content tobacco cigarettes and reducing levels of cannabinoids in cannabis and hemp products.

The New York-headquartered group researches and develops technology that alters the level of nicotine in tobacco plants and the level of cannabinoids in cannabis plants through genetic engineering, gene-editing and modern plant breeding. 

According to 22nd Century Group, its primary mission in tobacco is to reduce the harm caused by smoking by bringing reduced nicotine content tobacco cigarettes – containing 95% less nicotine than conventional cigarettes – to adult smokers in the US and international markets. It also plans to develop and commercialise proprietary cannabis plants with valuable cannabinoid profiles and desirable agronomic traits. 

The company was listed on the Nasdaq on 16 August 2021. Its common stock trades under the ticker symbol XXII.

22nd Century’s trademark VLN cigarette is the first and only combustible tobacco cigarette containing minimal to non-additive levels of nicotine. It was authorised by the US Food and Drug Administration (FDA) to help adults smoke less. Since 13 April 2022, VLN cigarettes have been available through a national pilot in Chicago’s Circle K stores. 

The group’s cannabis business segment generated its first revenues in the fourth quarter 2021.

 Its hemp production at Needle Rock Farms received USDA Organic Certification, and will allow the company to sell the raw material at a premium on top of market prices.

The company has entered the $500bn a year global specialty hops market. It plans to monetise hop plant varieties and intellectual property (IP) with upfront licence fees in late 2022 to early 2023.