22nd Century Group, Inc., a plant biotechnology company, focuses on tobacco harm reduction and smoking cessation products produced from modifying the nicotine content in tobacco plants through genetic engineering and plant breeding. It develops smoking cessation products for smokers who are unable or unwilling to quit smoking; and modified risk tobacco products that reduce exposure to certain tobacco smoke toxins compared to conventional cigarettes. The company’s products include X-22, a prescription smoking cessation aid, which is a tobacco-based botanical medical product for use as a smoking cessation therapy; RED SUN and MAGIC regular and menthol cigarettes; and SPECTRUM government resear...
9530 Main Street
Clarence, NY 14031
Founded in 1998
22nd Century Group, Inc. - Shareholder/Analyst Call
Nov 21 14
To overview of recent business highlights and a summary of the company's plans for the first half of 2015
22nd Century Group, Inc. Presents at LD Micro Conference, Dec-03-2014 09:30 AM
Nov 18 14
22nd Century Group, Inc. Presents at LD Micro Conference, Dec-03-2014 09:30 AM. Venue: Luxe Sunset Boulevard Hotel, 11461 Sunset Boulevard, Los Angeles, California, United States.
22nd Century Group, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 14 14
22nd Century Group, Inc. announced earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net loss of $2,724,309 or $0.05 per share compared to $15,372,517 or $0.32 per share a year ago. Adjusted LBITDA was $1,930,650 or $0.03 per share compared to $700,696 or $0.02 per share a year ago. Revenue was $64,000 compared to $52,500 a year ago. The revenues consist of $80,000 generated from the manufacture of filtered cigars, including $64,000 in the third quarter, with the remainder of the revenue generated from the sale of SPECTRUM research cigarettes to the National Institute on Drug Abuse (NIDA), which is part of the National Institutes of Health (NIH), United States Department of Health and Human Services. Operating loss was $2.82 million compared to $1.09 million a year ago.
For the nine months, the company reported net loss of $10,005,252 or $0.17 per share compared to $18,331,675 or $0.44 per share a year ago. Adjusted LBITDA was $3,951,833 or $0.07 per share compared to $1,668,248 or $0.04 per share a year ago. Revenue was $528,000. Operating loss was $6.05 million compared to $4.10 million a year ago. The results for the nine months ended September 30, 2014 included non-operating expenses from a non-cash change in the fair value of derivatives (warrant liability) of $3.85 million, a non-cash inducement expense of $145,000 from the amendment of certain warrants, and other net non-operating income of $40,000.