22nd Century Group Inc (XXII)

[Atlanta1]

22nd Century Group issues annual letter to shareholders (4.07 +0.33)
Excerpts from the letter include:

"Over the past year, we have made tremendous strides in the two franchises in which we currently operate -- tobacco and legal hemp/cannabis. In our tobacco franchise, we remain highly confident that our Modified Risk Tobacco Product (MRTP) application for VLN, our proprietary reduced nicotine content cigarette, is in the final stages of review with the [FDA]. In addition to our ongoing contact with the FDA, we are working hard with various legal advisers, regulatory consultants, and government affairs specialists to highlight the public health importance of our MRTP application to encourage near-term authorization. When authorized, 22nd Century will be able to communicate key features of VLN King and VLN Menthol King, including a headline claim of '95% less nicotine.'"
"[W]e are fully prepared and eager to launch VLN cigarettes within 90 days of receiving authorization and believe that an MRTP designation will serve as a catalyst for our VLN brand and tobacco franchise."
"We have and are making great strides in our hemp-cannabis franchise as well. [...] We believe we can deliver immense value to the global, legal cannabis market [...] by providing the hemp/cannabis industry with enabling IP and plant lines that have optimized cannabinoid and terpene profiles with stable genetics and higher yields for commercial use."