22nd Century Group Inc XXII

Consumer Defensive Tobacco

22nd Century Group, Inc. is an agricultural biotechnology company. The Company is focused on tobacco harm reduction, reduced nicotine tobacco and improving health and wellness through plant science. Additionally, the Company provide contract manufacturing services for conventional combustible tobacco products for third-party brands. The Company operates through a single segment named Tobacco. Its tobacco segment is engaged in contract manufacturing organization (CMO) customer contracts that consist of obligations to manufacture the customers' branded filtered cigars and cigarettes. The tobacco segment is engaged in the sale of its reduced nicotine content (RNC) cigarettes, sold under the brand name VLN, or research cigarettes sold under the brand name SPECTRUM. It uses plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding to deliver solutions for the life science and consumer products.

NDAQ:XXII - Post by User

22nd Century Group Inc

<< Previous

Bullboard Posts

Next >>

Post by khandaanita4444on Sep 27, 2024 3:38pm

38 Views

Post# 36244592

22nd Century Group Expands with New Moonlight Brand Deal

Mocksville, North Carolina – On September 23, 2024, 22nd Century Group, Inc. (NASDAQ: XXII) announced a new customer agreement to supply its Moonlight branded cigarettes to the Southeast Asia market. This deal is expected to drive significant growth, with the first shipment anticipated in Q4 2024. Volumes could expand further throughout 2025 as the brand launches in key markets, potentially increasing the company’s manufacturing output by over 30% once fully scaled.

Chairman and CEO Larry Firestone highlighted this as a key growth opportunity: “This new customer allows us to leverage underutilized in-house brand assets, boosting our presence in a region with a strong smoking culture.” He also noted the company’s plans to expand other brands like Pinnacle, Magic, and Ranger globally, while continuing to build momentum with their flagship VLN® 95% reduced nicotine cigarettes.

This latest deal complements 22nd Century's broader strategy, which includes recent market expansions into South Korea and the U.S. as it pushes for leadership in reduced-risk tobacco products globally.

<< Previous

Bullboard Posts

Next >>

The top 10 artificial intelligence penny stocks