22nd Century Group, Inc. (NASDAQ: XXII) has secured a significant new customer agreement to supply its Moonlight branded cigarettes in Southeast Asia. This strategic move is expected to boost factory volumes by over 30% once fully scaled. The initial shipment is anticipated in Q4 2024, with further expansions planned throughout 2025. The company's Chairman and CEO, Larry Firestone, emphasized leveraging their in-house brand assets in a region with a robust smoking culture.
This expansion is part of a broader strategy to introduce additional brands and collaborate on reduced nicotine products globally. The company has already made headway in South Korea, reflecting its commitment to harm reduction.
22nd Century’s flagship VLN® cigarette, containing 95% less nicotine, is the only combustible cigarette authorized by the FDA to aid in reducing smoking rates. This unique product aligns with the company’s mission to offer smokers better control over their nicotine intake.
As of the latest market data, 22nd Century Group’s stock ($XXII) is trading at [insert current price], with a market capitalization of [insert market cap]. The company's innovative approach positions it strongly in the global tobacco market, catering to changing regulatory and consumer landscapes.