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September 01, 2015 1:32 AM ET

Tobacco

Company Overview of 22nd Century Group, Inc.

Company Overview

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 and modified risk tobacco products for smokers who are unable or unwilling to quit smoking and who may be interested in cigarettes which reduce exposure to certain tobacco smoke toxins and/or pose a lower health risk than conventional cigarettes. The company’s products include RED SUN and MAGIC regular and menthol cigarettes; and SPECTRUM government research cigarettes. It is also developing X-22, a prescription smoking cess...

9530 Main Street

Clarence, NY 14031

United States

Founded in 1998

23 Employees

Phone:

716-270-1523

Fax:

716-877-3064

Key Executives for 22nd Century Group, Inc.

Chief Executive Officer, President and Director
Age: 47
Total Annual Compensation: $200.0K
Founder and Director
Age: 46
Total Annual Compensation: $184.3K
Chief Financial Officer and Treasurer
Age: 57
Total Annual Compensation: $180.0K
Vice President, General Counsel and Secretary
Age: 56
Total Annual Compensation: $326.2K
Vice President of Research & Development
Age: 62
Total Annual Compensation: $185.0K
Compensation as of Fiscal Year 2014.

22nd Century Group, Inc. Key Developments

22nd Century Group, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

22nd Century Group, Inc. announced earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's net loss was $1.29 million or $0.02 per share compared to a net loss of $1.97 million or $0.03 per share for the three months ended June 30, 2014. The company's losses decreased $0.68 million and $1.87 million for the three months ended June 30, 2015, as compared to the three months ended June 30, 2014. The decrease in the net loss for the three months ended June 30, 2015 was primarily due to other income of $1,000,000 from the litigation settlement offset by a decrease in gross loss of approximately $296,000. Adjusted EBITDA was a negative $1.8 million or $0.03 per share compared to adjusted EBITDA of negative $0.85 million or $0.01 per share for the three months ended June 30, 2014. Net revenues were $2,307,000 compared to $16,000 a year ago. Operating losses was $2.35 million compared to operating losses of $2.04 million a year ago. For the six months, the company's net loss was $5.41 million or $0.08 per share compared to a net loss of $1.97 million or $0.03 per share for the three months ended June 30, 2014 and $7.28 million or $0.13 per share for the six months ended June 30, 2014. The company's losses decreased $1.87 million for the six months ended June 30, 2015, as compared to six months ended June 30, 2014. The decrease in the net loss for the six months ended June 30, 2015 was primarily a result of a decrease in the warrant liability gain (loss) - net of approximately $4,165,000 and the other income of $1,000,000 from the litigation settlement, offset by a decrease in gross loss of approximately $583,000 and an increase in operating expenses of approximately $2,658,000 (approximately $1,805,000 of this increase in operating expenses was the result of a non-cash increase in stock based compensation expense). Adjusted EBITDA was negative $3.29 million or $0.05 per share compared to Adjusted EBITDA of negative $2.04 million or $0.04 per share for the six months ended June 30, 2014. Net revenues were $2,923,000 compared to $464,000 for the three and six months ended June 30, 2014, respectively. Operating losses was $6.47 million compared to operating losses $3.23 million six months ended June 30, 2014.

22nd Century Group, Inc., Q2 2015 Earnings Call, Aug 05, 2015

22nd Century Group, Inc., Q2 2015 Earnings Call, Aug 05, 2015

22nd Century Group, Inc.(AMEX:XXII) dropped from Russell 2000 Index

22nd Century Group, Inc. will be removed from Russell 2000 Index

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