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22nd Century (XXII) - 2021 Q1 - Quarterly Report
2021-05-06 10:12
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to ________ Commission File Number: 001-36338 22nd Century Group, Inc. (Exact name of registrant as specified in its charter) Nevada 98-0468420 ( ...
22nd Century (XXII) - 2020 Q4 - Earnings Call Transcript
2021-03-11 19:19
22nd Century Group, Inc. (NASDAQ:XXII) Q4 2020 Earnings Conference Call March 11, 2021 8:00 AM ET Company Participants Mei Kuo – Director-Communications and Investor Relations Jim Mish – Chief Executive Officer Mike Zercher – President and Chief Operating Officer John Franzino – Chief Financial Officer Conference Call Participants Jim McIlree – Bradley Woods Operator Welcome to the 22nd Century Group’s Fourth Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode and ...
22nd Century (XXII) - 2020 Q4 - Earnings Call Presentation
2021-03-11 16:11
FOURTH QUARTER 2020 EARNINGS PRESENTATION MARCH 11, 2021 CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements concerning our business operations, and financial performance and conditions, as well as our plans, objectives, and expectations for our business operations and financial performance and conditions that are subject to risks and uncertainties. All statements other than those of historical fact are forward-looking statements. These types of statements typ ...
22nd Century (XXII) - 2020 Q4 - Annual Report
2021-03-11 13:36
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2020 or ☐ Transitional Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-36338 22nd Century Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction (IRS Employer of incorporation) Identification No.) Ne ...
22nd Century (XXII) - 2020 Q3 - Earnings Call Presentation
2020-11-08 20:00
THIRD QUARTER 2020 EARNINGS SUPPLEMENTAL NOVEMBER 5, 2020 CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements concerning our business operations and financial performance and conditions, as well as our plans, objectives, and expectations for our business operations and financial performance and conditions that are subject to risks and uncertainties. All statements other than those of historical fact are forward-looking statements. These types of statements typ ...
22nd Century (XXII) - 2020 Q3 - Earnings Call Transcript
2020-11-05 20:01
Financial Data and Key Metrics Changes - The net sales revenue for Q3 2020 increased approximately 13% to $7.3 million, and for the first nine months of 2020, it was up 12% to $20.8 million, primarily driven by higher volume and pricing in the contract manufacturing business [60] - The operating loss improved by $3.6 million in Q3 and by $5.1 million for the first nine months of 2020, attributed to higher gross margins and lower operating expenses [59] - The net loss for Q3 improved by $6 million to $4.2 million, resulting in a net loss per share of $0.03, an improvement of $0.05 on a per share basis [66] - Adjusted EBITDA for the quarter improved by 26% and by 23% year-to-date, with liquidity remaining strong at approximately $26.8 million at the end of Q3 [68][69] Business Line Data and Key Metrics Changes - The tobacco franchise is focused on the VLN product, which is in the final stages of the MRTP review process, with plans for a national rollout and marketing campaign upon FDA authorization [11][15] - The hemp/cannabis strategy has shifted to target upstream segments of the value chain, focusing on plant biotechnology research and gene modification, moving away from CBD and hemp-based consumer products [20][21] Market Data and Key Metrics Changes - The U.S. tobacco industry is valued at $100 billion, with 34 million adult smokers in the U.S. and one billion worldwide, indicating a significant market opportunity for VLN [40][41] - Two-thirds of smokers in the U.S. want to quit smoking, with a reduced exposure claim authorized by the FDA expected to be a critical catalyst for sales growth [41] Company Strategy and Development Direction - The primary mission is to reduce the harm caused by smoking, with a focus on securing FDA marketing authorization for VLN as the number one near-term priority [12][14] - The company plans to make proprietary reduced nicotine-content tobacco available to all cigarette manufacturers in the U.S. once the FDA mandate goes into effect [18][19] - The company is also exploring longer-term opportunities in tobacco for producing medicines, vaccines, and sustainable protein sources [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a positive outcome from the FDA regarding the MRTP application, emphasizing that it is a matter of when, not if [28][36] - The FDA's commitment to tobacco harm reduction and the proposed reduced nicotine product standard is seen as a significant public health initiative [48][49] - The company is prepared to launch VLN within 90 days of MRTP authorization, with discussions ongoing with retailers for market entry [37][38] Other Important Information - The company has a healthy balance sheet and does not plan to raise additional capital at this time, indicating confidence in sustaining operations and executing strategy [69] - A new patent has been granted that allows for genetic control in various tobacco varieties, enhancing the company's competitive position [17][79] Q&A Session Summary Question: What is the marketing budget for VLN in the first 12 months? - The company is not prepared to release specific figures but will take a phased approach to the rollout [75] Question: Are there signed agreements with national retail partners? - Currently, there are no signed agreements, but discussions are ongoing [77] Question: What varieties does the new patent cover? - The technology is believed to work in any variety of tobacco, focusing on bright, burley, and oriental tobaccos [79] Question: Will more money be invested in Panacea? - No additional investment is planned; focus will shift to upstream opportunities [89] Question: What is the backup plan if MRTP is not approved? - The company believes approval is imminent and will continue to apply pressure on the FDA [104]
22nd Century (XXII) - 2020 Q3 - Quarterly Report
2020-11-05 12:23
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to ________ Commission File Number: 001-36338 22nd Century Group, Inc. (Exact name of registrant as specified in its charter) Nevada 98-04684 ...
22nd Century Group (XXII) Presents At LD 500 Investor Virtual Conference
2020-09-04 17:35
Investor Presentation 1 A Life Science Company Driven By Next Generation Plant Biotechnology LD Micro 500 Virtual Conference Presentation September 2020 (NYSE American: XXII) Disclaimer 2 Forward-Looking Statements This presentation contains forward-looking statements concerning our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition that are subject to risks and uncertainties. All ...
22nd Century (XXII) - 2020 Q2 - Earnings Call Transcript
2020-08-06 14:47
22nd Century Group, Inc. (NASDAQ:XXII) Q2 2020 Results Earnings Conference Call August 6, 2020 8:00 AM ET Company Participants Mei Kuo - Director of Communications and Investor Relations Jim Mish - Chief Executive Officer Mike Zercher - President and Chief Operating Officer John Franzino - Chief Financial Officer. Conference Call Participants Operator Welcome to 22nd Century Group’s Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, today’s ...
22nd Century (XXII) - 2020 Q2 - Quarterly Report
2020-08-06 11:30
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to ________ Commission File Number: 001-36338 22nd Century Group, Inc. (Exact name of registrant as specified in its charter) Nevada 98-0468420 (S ...