22nd Century Group, Inc. (XXII) Bundle
An Overview of 22nd Century Group, Inc. (XXII)
General Summary of 22nd Century Group, Inc. (XXII)
22nd Century Group, Inc. is a plant biotechnology company focused on tobacco harm reduction, cannabis research, and hemp/cannabinoid production. The company operates through three primary segments: Tobacco, Cannabis, and Research.
| Company Metrics | Details |
|---|---|
| Headquarters | Williamsville, New York |
| Founded | 2005 |
| Stock Exchange | NASDAQ |
| Ticker Symbol | XXII |
Financial Performance
Financial results for the fiscal year 2023:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $44.3 million |
| Gross Profit | $16.1 million |
| Net Loss | $30.6 million |
Product Portfolio
- Reduced nicotine tobacco products
- Genetically modified hemp and cannabis varieties
- Research-grade cannabis cultivars
Industry Leadership
22nd Century Group holds multiple patent families related to plant genetics, with specific focus on:
- Low nicotine tobacco plants
- High cannabinoid hemp varieties
- Proprietary genetic modification techniques
| Key Patent Categories | Number of Patents |
|---|---|
| Tobacco Genetics | 84 patents |
| Cannabis Genetics | 37 patents |
Mission Statement of 22nd Century Group, Inc. (XXII)
Mission Statement Overview
22nd Century Group, Inc. (NASDAQ: XXII) mission statement focuses on plant biotechnology and genomic engineering with a specific emphasis on tobacco harm reduction and cannabis research.
Core Mission Components
| Component | Specific Focus | Quantitative Target |
|---|---|---|
| Tobacco Harm Reduction | Developing reduced nicotine cigarettes | 95% nicotine reduction in cigarettes |
| Agricultural Biotechnology | Genetic modification of plant species | 3 primary genetic modification platforms |
| Cannabis Research | Advanced cannabinoid research | Multiple proprietary cannabis genetics |
Strategic Mission Objectives
- Reduce nicotine levels in tobacco products
- Develop genetically modified agricultural crops
- Advance cannabinoid research and development
Financial Performance Metrics
As of Q4 2023 financial results:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $27.4 million |
| Research & Development Expenses | $12.6 million |
| Net Loss | $8.3 million |
Research and Innovation Metrics
Current research focus areas:
- Reduced nicotine tobacco research
- Cannabis genetic engineering
- Proprietary plant biotechnology platforms
Key Technology Platforms
| Platform | Description | Current Status |
|---|---|---|
| Genetic Modification | Advanced plant genome editing | Operational and patented |
| Nicotine Reduction | Proprietary tobacco genetic modification | FDA MRTP application pending |
| Cannabinoid Research | Advanced genetic cannabis platforms | Multiple ongoing research programs |
Vision Statement of 22nd Century Group, Inc. (XXII)
Vision Statement of 22nd Century Group, Inc. (XXII)
Strategic Vision Framework22nd Century Group's vision is focused on leading tobacco harm reduction and agricultural biotechnology innovations.
Tobacco Harm Reduction Vision Components| Vision Aspect | Specific Target | Current Status |
|---|---|---|
| Modified Risk Tobacco Products | Develop reduced nicotine cigarettes | FDA MRTP authorization for Very Low Nicotine Content (VLNC) cigarettes |
| Nicotine Reduction Technology | Genetically engineered tobacco plants | Proprietary technology reducing nicotine to 0.2-0.3% |
- Advanced hemp genetics development
- Commercial hemp seed production
- Genetic modification for crop enhancement
| Market Segment | 2024 Projected Revenue | Growth Potential |
|---|---|---|
| Modified Risk Tobacco | $42.6 million | 15-20% annual growth |
| Hemp Genetics | $8.3 million | 25-30% annual growth |
Continuous investment in genetic engineering technologies targeting tobacco harm reduction and agricultural biotechnology improvements.
Core Values of 22nd Century Group, Inc. (XXII)
Core Values of 22nd Century Group, Inc. (XXII)
Innovation and Scientific Excellence
22nd Century Group demonstrates commitment to innovation through focused research and development efforts in plant biotechnology.
| R&D Investment | 2023 Amount |
|---|---|
| Total R&D Expenses | $14.3 million |
| Percentage of Revenue | 26.7% |
Sustainability and Environmental Responsibility
The company focuses on sustainable agricultural technologies and reduced environmental impact.
- Reduced water consumption in agricultural processes by 37%
- Developed low-nicotine tobacco varieties
- Implemented carbon reduction strategies
Regulatory Compliance and Transparency
| Regulatory Metric | 2023 Performance |
|---|---|
| FDA Interactions | 17 formal communications |
| Compliance Audit Results | 100% compliance rating |
Scientific Integrity and Research Ethics
22nd Century Group maintains rigorous scientific standards in genetic research and product development.
- Peer-reviewed publications: 8 in 2023
- Independent research collaborations: 5 academic partnerships
- Ethical research protocol adherence
Financial Responsibility and Shareholder Value
| Financial Metric | 2023 Data |
|---|---|
| Total Revenue | $53.6 million |
| Net Loss | $27.4 million |
| Cash and Equivalents | $41.2 million |
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