22nd Century Group Inc (XXII) Earnings

22nd Century Group, Inc. is a biotechnology company, which engages in the business of tobacco harm reduction, reduced nicotine tobacco, and improvement of health and wellness through plant science. The company is headquartered in Williamsville, New York and currently employs 32 full-time employees. The company went IPO on 2006-10-17. The firm manufactures and distributes combustible tobacco products containing minimally or non-addictive levels of nicotine. Additionally, the Company provides turnkey contract manufacturing of cigarettes and filtered cigars for other established tobacco brands. The firm's product, VLN cigarette has 95% less nicotine than the traditional cigarette. The firm operates through a single segment named Tobacco. The company is engaged in contract manufacturing organization (CMO) customer contracts that consist of obligations to manufacture the customers' branded filtered cigars and cigarettes. The company is also engaged in the sale of its proprietary low nicotine content cigarettes, sold under the brand name VLN, or research cigarettes sold under the brand name SPECTRUM.