Latest news with #XXII


Business Insider
18-07-2025
- Business
- Business Insider
Why Is 22nd Century Stock (XXII) Up 85% Today?
22nd Century (XXII) stock rocketed higher on Thursday after the tobacco company announced new partnerships for its low-nicotine cigarettes. The company has teamed up with Smoker Friendly and Pinnacle for the sale of its unique cigarettes, which are designed to reduce the harmful effects of smoking normal cigarettes. This includes weaning smokers off normal cigarettes and helping them stop smoking. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. To go along with this, 22nd Century cigarettes are compliant with the U.S. Food and Drug Administration's proposed new Tobacco Product Standard for Nicotine Yield of Cigarettes and Certain Other Combusted Tobacco Products. 22nd Century CEO Larry Firestone said, 'The FDA's new product standard proposed in January is one of many factors that are driving early commercial interest in our VLN reduced nicotine content tobacco products.' 22nd Century Stock Movement Today XXII stock was up 86.035% in pre-market trading on Thursday, following a 3.58% drop yesterday. The stock has also fallen 96.25% year to date and 99.83% over the past 12 months. Today's rally came with heavy trading, as some 10 million shares changed hands, compared to a three-month daily average of about 94,000 units. Is 22nd Century Stock a Buy, Sell, or Hold? Turning to Wall Street, coverage of 22nd Century is lacking. Luckily, TipRanks' AI analyst Spark has it covered. Spark rates XXII stock a Neutral (44) with a $5 price target, suggesting a potential 9.17% upside for the shares. It cites 'weak financial performance and bearish technical indicators' as reasons for this stance.
Yahoo
14-05-2025
- Business
- Yahoo
22nd Century Group Inc (XXII) Q1 2025 Earnings Call Highlights: Revenue Surge and Strategic ...
Net Revenue: $6 million in Q1 2025, a 50% increase from $4 million in Q4 2024. Gross Margin: Loss of $0.6 million, improved by 50% from the prior quarter. Total Cartons Sold: 476,000, a 41% increase from 338,000 in Q4 2024. Total Operating Expenses: $2 million, the lowest quarterly amount since the turnaround began. Net Loss from Continuing Operations: Improved to $3.3 million from $4.2 million in the preceding quarter. EPS: Loss of $1.89 per share, improved from a loss of $10.59 per share. Adjusted EBITDA: Loss of $2.3 million, improved from a loss of $3.9 million in Q4 2024. Outstanding Debt: Reduced to $3.9 million with debt for equity conversions and cash payments. Cash Used in Operations: $2.9 million in Q1 2025. Capital Raise: Gross proceeds of approximately $5.4 million with an additional option for $3.3 million. Warning! GuruFocus has detected 4 Warning Signs with XXII. Release Date: May 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. 22nd Century Group Inc (NASDAQ:XXII) reported a 50% sequential increase in net revenue for the first quarter of 2025, reaching $6 million. The company has successfully restructured its business model, focusing on reduced nicotine premium products and value-focused CMO brands, which are expected to drive future growth. The relaunch of VLN-branded products aims to cater to consumers who wish to control their nicotine consumption, presenting a significant growth opportunity. The company has reduced its operating expenses to the lowest quarterly amount since the turnaround began, indicating improved fiscal responsibility. 22nd Century Group Inc (NASDAQ:XXII) has made progress in reducing its outstanding debt, with a remaining principal balance of $3.9 million, and has secured additional capital to support its growth strategy. The company reported a gross margin loss of $0.6 million for the first quarter of 2025, although this was an improvement from the previous quarter. 22nd Century Group Inc (NASDAQ:XXII) is still in the process of gaining state approvals for its products, which is a lengthy and sequential process that could delay growth. The company is facing challenges in the turbulent tobacco market, including price pressures and regulatory uncertainties. There is a significant increase in accounts receivable, which impacts the company's net working capital and could indicate potential cash flow issues. The company is involved in a lawsuit against Dorchester Insurance Company, which could result in financial and operational distractions. Q: Do you still foresee a breakeven of EBITDA for the fourth quarter of this year? A: Yes, we're still on track in the later half of the year to get to breakeven. - Daniel Otto, CFO Q: Are you seeing that CMO will continue to grow from this first quarter level and the VLN will hopefully kick in over the course of the year? A: Yes, we have the smoker-friendly and Pinnacle franchises on a growth path, and as we get state approvals, we'll start to see distribution. - Daniel Otto, CFO Q: Does the increase in accounts receivable portend a need for additional financial capital? A: After the recent financing, we're comfortable with our cash runway. The receivable balance increase is due to new customer agreements in the CMO business. - Daniel Otto, CFO Q: What has been the share issuance dilution from the warrants, and what can we expect over the course of the year? A: Current shares outstanding are $11.3 million, including shares issued under the warrant inducement. We have another tranche that can be exercised, potentially adding $3.3 million in proceeds. - Daniel Otto, CFO Q: Are there any implications for 22nd Century growth from competitors' earnings results? A: The trends in the market, such as price increases, benefit our value play with smoker-friendly and Pinnacle brands. We're also anticipating the launch of the partner VLN in the market. - Daniel Otto, CFO Q: Within the CMO product line, have we seen the worst of it in 2024, and are we now on a growth trajectory? A: Yes, we are now on a growth trajectory cartons-wise, price-wise, and revenue-wise. - Daniel Otto, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio

Yahoo
13-05-2025
- Business
- Yahoo
22nd Century: Q1 Earnings Snapshot
MOCKSVILLE, N.C. (AP) — MOCKSVILLE, N.C. (AP) — 22nd Century Group Inc. (XXII) on Tuesday reported a loss of $4.3 million in its first quarter. The Mocksville, North Carolina-based company said it had a loss of $2.50 per share. Losses, adjusted to account for discontinued operations, were $1.89 per share. The plant biotechnology company posted revenue of $6 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on XXII at Sign in to access your portfolio


San Francisco Chronicle
13-05-2025
- Business
- San Francisco Chronicle
22nd Century: Q1 Earnings Snapshot
MOCKSVILLE, N.C. (AP) — MOCKSVILLE, N.C. (AP) — 22nd Century Group Inc. (XXII) on Tuesday reported a loss of $4.3 million in its first quarter. The Mocksville, North Carolina-based company said it had a loss of $2.50 per share. Losses, adjusted to account for discontinued operations, were $1.89 per share. The plant biotechnology company posted revenue of $6 million in the period. _____

Yahoo
13-05-2025
- Business
- Yahoo
22nd Century: Q1 Earnings Snapshot
MOCKSVILLE, N.C. (AP) — MOCKSVILLE, N.C. (AP) — 22nd Century Group Inc. (XXII) on Tuesday reported a loss of $4.3 million in its first quarter. The Mocksville, North Carolina-based company said it had a loss of $2.50 per share. Losses, adjusted to account for discontinued operations, were $1.89 per share. The plant biotechnology company posted revenue of $6 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on XXII at