Streetbeat News

XXII

22nd Century Group, Inc.

https://www.xxiicentury.com

Industry

Tobacco

22nd Century Group, Inc., an agricultural biotechnology company, focuses on tobacco harm reduction, reduced nicotine tobacco, and enhancing health and wellness through plant science for the life science and consumer products industries. It develops very low nicotine content tobacco and cigarette products under the VLN King and VLN Menthol King names; and SPECTRUM research cigarettes for use in independent clinical studies. The company has collaboration with Keygene N.V. to develop hemp/cannabis plants for exceptional cannabinoid profiles and other superior agronomic traits for medical, therapeutic, and agricultural uses, as well as other applications. 22nd Century Group, Inc. was founded in 1998 and is headquartered in Buffalo, New York.

Open

0.10

Mkt cap

5.5M

Volume

15M

High

0.13

P/E Ratio

-0.01

52-wk high

6.69

Low

0.10

Div yield

N/A

52-wk low

0.09

On December 7, 2023, several marijuana stocks experienced significant price movements. Notable gainers included MPX International with a 9900% increase, while Maple Leaf Green World led the losers with a 20.32% decline. Other stocks such as CV Sciences, Global Compliance, and Psychemedics also saw gains, whereas Neptune Wellness Solutions and Greenlane Holdings were among those that fell.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 9:30 pm

The cannabis industry sees a wave of executive appointments and board updates. Aaron Lopez is now the head of the National Hispanic Cannabis Council. The Blinc Group, 22nd Century Group, and Healing Commercial Real Estate Inc. have appointed new CEOs. 22nd Century Group (XXII) also sold its hemp/cannabis operations to Specialty Acquisition Corporation. Xebra Brands Ltd. (XBRAF) and iAnthus Capital Holdings, Inc. (ITHUF) elected new board directors. 4Front Ventures Corp. (FFNTF), Wana Brands, Jones Soda Co. (JSDA), FundCanna, FloraWorks Holdings Inc., and Ziel announced other key appointments.

Portfolio Pulse from Jelena Martinovic

December 04, 2023 | 10:46 pm

The article lists the cannabis stocks that experienced significant gains and losses on December 4, 2023. Notable gainers include Global Compliance, Indiva, and Canopy Growth, with increases of 89.29%, 38.93%, and 22.59% respectively. On the losing side, Global Hemp Group led the declines with a 76.68% drop. The article reflects the volatility in the cannabis market and may influence investor sentiment.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 9:30 pm

22nd Century Group, Inc. has secured $3.2 million to date through a warrant exchange transaction. The company, which is known by its ticker symbol XXII, has not disclosed further details on the transaction or its implications for the company's financial strategy or operations.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 12:13 pm

Marijuana stocks experienced a bullish Friday with several companies posting significant gains. MGC Pharmaceuticals led the pack with a 41800.00% increase, while GrowLife saw the largest decline at 80.00%. The article lists the top gainers and losers in the sector, with notable gains from Canopy Growth, GrowGeneration, Cara Therapeutics, 22nd Century Group, Tilray Brands, and Scotts Miracle-Gro. Conversely, Neptune Wellness Solutions, Psychemedics, and Corbus Pharmaceuticals were among the notable losers.

Portfolio Pulse from Benzinga Insights

December 01, 2023 | 9:30 pm

The cannabis sector experienced a bullish trend on November 30, 2023, with several companies seeing significant gains in their share prices. Corbus Pharmaceuticals, Neptune Wellness Solutions, and Eastside Distilling were among the top gainers, while CNBX Pharmaceuticals, CLS Holdings USA, and Blueberries Medical were the biggest losers. The article lists the closing prices and percentage changes for both gainers and losers in the cannabis space.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 9:30 pm

The cannabis sector experienced significant movement on November 29, 2023, with a majority of listed companies showing gains. Notable gainers included Target Group, CNBX Pharmaceuticals, and 22nd Century Group, with increases of 84.14%, 63.64%, and 39.72% respectively. On the downside, AusCann Group Holdings, Item 9 Labs, and Pharmadrug saw their shares decline by 46.67%, 31.43%, and 21.58%. The movements reflect bullish sentiment in the cannabis space.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 9:30 pm

22nd Century Group, Inc. (XXII) appoints Lawrence Firestone as chairman and CEO. The company also announced the sale of its GVB Biopharma operations to Specialty Acquisition Corporation for $2.25 million. Firestone has extensive experience, including roles as CEO of Eastside Distilling, Inc. (EAST) and Qualstar Corporation (QBAK), and CFO of Advanced Energy Industries (AEIS) and Applied Films Corporation (AFCO). 22nd Century reported an 8.2% drop in net revenue and a significant operating loss. The Blinc Group promoted Pete Sahani to CEO, with the former CEO taking a new role. XXII shares rose 10.6977% to $0.2380.

Portfolio Pulse from Jelena Martinovic

November 29, 2023 | 3:53 pm

22nd Century Group, Inc. has appointed Lawrence D. Firestone as its new Chairman of the Board of Directors and CEO, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

November 29, 2023 | 11:13 am

22nd Century Group, Inc. (NASDAQ:XXII) has agreed to sell its GVB Biopharma hemp/cannabis operations to Specialty Acquisition Corporation for $2.25 million. The deal includes a $1 million payment at closing and a $1.25 million secured promissory note. The sale aims to reduce cash and operating demands, with 22nd Century expecting to lower operating expenses beyond the $15 million in annual cost savings already announced. The company will retain rights to insurance proceeds from a fire at its Grass Valley facility, with damages sought at approximately $9 million. The sale is set to close in early December 2023, pending customary conditions and financing for the buyer. 22nd Century is also exploring strategic alternatives for its tobacco assets, including its FDA-approved VLN reduced nicotine content products.

Portfolio Pulse from Nina Zdinjak

November 28, 2023 | 2:35 pm

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