22nd Century Applauds FDA Proposal to Mandate Reduced Nicotine Content in CigarettesRecent FDA Action Advances Policy Proposal That Originated During First Trump Administration and Continued to Progress Under Biden AdministrationDecember 12, 2024 11:31 AM EST | Source: 22nd Century GroupMocksville, North Carolina--(Newsfile Corp. - December 12, 2024) - 22nd Century Group, Inc. (Nasdaq: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have ...

Core Insights - 22nd Century Group reported a decrease in net revenues for Q3 2024, totaling $5.9 million, down 24.5% from $7.9 million in Q2 2024. The company aims to achieve cash positive operations by Q1 2025 [2][4][5]. Financial Performance - Net revenues decreased to $5.9 million from $7.9 million, with a gross profit loss of $(0.6) million compared to a profit of $0.6 million in the previous quarter [4][10]. - Operating loss increased to $3.4 million from $2.0 million, and net loss rose to $3.6 million from $2.2 million [4][10]. - Basic and diluted EPS decreased to $(0.27) from $(0.30) [4][10]. - Adjusted EBITDA loss increased to $3.2 million from a loss of $2.6 million [4][10]. Product Line Performance - Cigarette net revenues increased to $4.1 million, an 18% rise compared to $3.5 million in the prior year, despite a 22% decline in carton volumes [6][12]. - Filtered cigars net revenues decreased to $1.7 million from $4.1 million in the prior year, reflecting lower volumes due to the completion of last time buy orders [7][12]. - Cigarillo distribution net revenues amounted to $0.2 million, compared to $0 in the prior year quarter [8][12]. - VLN® cigarette net revenues were negligible in Q3 2024, with the company planning to rebrand and relaunch these products [9][12]. Strategic Initiatives - The company is transitioning from a financial focus to a growth strategy that leverages its manufacturing and brand assets [5][6]. - Plans to launch additional products, including VLN® SKUs, are underway to expand distribution and consumer awareness [6][12]. Debt and Liquidity - Net debt improved to $3.0 million from $7.0 million in the preceding quarter [4][10]. - Total debt decreased to $7.0 million from $13.9 million, with net total debt at $2.98 million [32]. Overall Outlook - The company remains focused on achieving EBITDA breakeven results in Q1 2025, with expectations for revenue growth driven by changes in its core CMO business [5][6].

22nd Century Group (XXII) to Announce Third Quarter 2024 Results on November 12, 2024November 07, 2024 4:05 PM EST | Source: 22nd Century GroupMocksville, North Carolina--(Newsfile Corp. - November 7, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine dependence and believes smokers should have a choice about their nicotine consumption, will host a webcast on Wednesday, November 12, 2024, at 8:00 AM ET to discuss its 2024 thir ...

22nd Century Group to Present at the LD Micro Main Event XVII on October 30 in Los AngelesOctober 21, 2024 9:00 AM EDT | Source: 22nd Century GroupMocksville, North Carolina--(Newsfile Corp. - October 21, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their nicotine consumption, today announced that it will be presenting at the LD Micro Main Event XVII investor conference to ...

● . . 22nd Century Continues CMO Business Expansion with Additional Filtered Cigar Volume CMO customer adds to previously announced cigarette export business with combined volume significantly adding to profitability September 25, 2024 8:00 AM EDT | Source: 22nd Century Group Mocksville, North Carolina--(Newsfile Corp. - September 25, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers should have a choice about their ni ...

● . . 22nd Century Announces New Branded Products Order with Customer for Southeast Asia New Customer for 22nd Century's Internally Owned Moonlight Brand Could Increase Factory Volumes by More Than 30% When Fully Scaled, Improve Gross Profit Profile September 23, 2024 8:00 AM EDT | Source: 22nd Century Group Mocksville, North Carolina--(Newsfile Corp. - September 23, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company that is leading the fight against nicotine and believes smokers sh ...

. . . 22nd Century Satisfies IP Licensing and Sponsored Research Obligations to NCSU Through 2025 in an Equity Transaction September 09, 2024 8:00 AM EDT | Source: 22nd Century Group Mocksville, North Carolina--(Newsfile Corp. - September 9, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company leading the fight against nicotine addiction with its FDA authorized 95% less nicotine brand VLN®, today announced an agreement to fund all intellectual property, licensing and sponsored researc ...

. . . 22nd Century Group to Participate in the HC Wainwright Conference on September 10, 2024 September 06, 2024 11:58 AM EDT | Source: 22nd Century Group Mocksville, North Carolina--(Newsfile Corp. - September 6, 2024) - 22nd Century Group, Inc. (Nasdaq: XXII), a tobacco products company leading the fight against nicotine with its 95% less nicotine brand VLN® focused on nicotine harm reduction and contract manufacturing, today announced that it will participate in the HC Wainwright Conference on September ...

. 22nd Century Raises $1.68 Million in Regulation A Offering, Amends Senior Secured Credit Facility August 28, 2024 9:10 AM EDT | Source: 22nd Century Group Mocksville, North Carolina--(Newsfile Corp. - August 28, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company focused on nicotine harm reduction and contract manufacturing, today announced that it has secured an additional $1.68 million in gross proceeds from institutional investors through its Regulation A offering priced at $0.5 ...

. . 22nd Century Group to Participate in the Emerging Growth Virtual Conference on August 21, 2024 August 20, 2024 5:52 PM EDT | Source: 22nd Century Group Mocksville, North Carolina--(Newsfile Corp. - August 20, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company focused on nicotine harm reduction and contract manufacturing, today announced that it will provide a brief corporate update as part of the Emerging Growth Virtual Conference on Wednesday, August 21, 2024 at 4:25 PM Eastern ...