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April 21, 2015 7:29 PM 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: 46
Total Annual Compensation: $200.0K
Chief Financial Officer and Treasurer
Age: 56
Total Annual Compensation: $180.0K
Vice President, General Counsel and Secretary
Age: 55
Total Annual Compensation: $326.2K
Vice President of R&D
Age: 61
Total Annual Compensation: $185.0K
Compensation as of Fiscal Year 2014.

22nd Century Group, Inc. Key Developments

22nd Century Group Names Henry Sicignano III as Chief Executive Officer

The Board of Directors of 22nd Century Group, Inc. announced that Henry Sicignano III has been named to the position of Chief Executive Officer. Mr. Sicignano will continue to serve as the Company’s President and will remain on the Board of Directors.

22nd Century Group, Inc. Announces Earnings Results for the Year Ended December 31, 2014

22nd Century Group, Inc. announced earnings results for the year ended December 31, 2014. For the period, the company’s revenue was $529,000 compared to $7,278,000 of revenue for the year ended December 31, 2013. The company reported an operating loss of $11.7 million as compared to operating income in the amount of $1.8 million for the year ended December 31, 2013. The decrease in operating income of $13.5 million is primarily the result of a decrease in revenues of $6.8 million, an increase in non-cash stock based compensation of $2.2 million, startup expenses incurred at manufacturing facility of $1.2 million, costs related to a severance liability of $0.6 million, an increase of $0.3 million in depreciation and amortization, and an increase in other operating expenses of $2.4 million. The company’s net loss was $15.6 million or $0.26 per share as compared to a net loss of $26.2 million or $0.60 per share for the year ended December 31, 2013. Adjusted EBITDA was a negative $6.1 million or $0.10 per share and $4.3 million or $0.10 per share for the year ended December 31, 2013.

22nd Century Group, Inc., 2014 Earnings Call, Feb 11, 2015

22nd Century Group, Inc., 2014 Earnings Call, Feb 11, 2015

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