22nd Century Group (XXII) - Printable Version

CLARENCE, N.Y. (WIVB) – As new markets open up for medical marijuana, a Clarence-based company is hoping to establish itself in the U.S. and across the globe.

The 22nd Century Group, which for years has been finding ways to control the nicotine content in cigarettes, is now dealing with the genetics of the cannabis plant. Tom James, the company’s Vice President and General Counsel, tells News 4, “We’ll be able to create different strains of marijuana that will have high medical applications.”

The 22nd Century Group is the first and currently only publicly traded company focused on tobacco and cannibis. Its founder, Joseph Pandolfino of Buffalo, sponsored research 15 years ago that developed tobacco with 96 percent less nicotine.

He “cracked the genetic code of the tobacco plant,” said James. “Fast forward today, we have more than 140 patents around the world.”

Now the company will alter four marijuana genes, not only for medical use, but possibly for recreational use as well. The new products, for now, will be produced at a plant in Canada.

“What it means to the world,” said James, “is new medicines, new cures. It doesn’t have to be pharmaceutical based, so we’re very excited about that.”

With the ability to remove or greatly reduce the THC element, which produces the high in cannabis, company president Jerry Sicignano is hoping to also bring back the hemp industry in the United States. Hemp-type of cannabis can be used to produce products including rope, oil, and cloth.

He says the company is hoping to begin commercial sales in about 18 months and says it is developing partnerships in Europe and Asia.

Bonnie Herzog, Wells Fargo tobacco analyst and heavy hitter in the field of smokes, to interview XXII Sept 30 and broadcast available to 800 clients (so I am told). So for XXII a chance to strut their stuff with a big league audience.

And for the speculators I'll speculate that we hear a China contract before the interview.

And XXII to ring the NYSE bell mid Oct. Nicotine and THC regulation etc etc in a nanocap.....

CLARENCE, N.Y.--(BUSINESS WIRE)-- 22nd Century Group, Inc. (XXII) (NYSE MKT:XXII) announced today that the Center for Tobacco Products (CTP) of the U.S. Food and Drug Administration (FDA) has granted the Company a meeting on November 12, 2014 to discuss the further development of the Companys potential modified risk tobacco product, code-named BRAND B (BB-1), which is a cigarette that is designed to provide an exceptionally low tar-to-nicotine yield ratio. As compared to other commercial low-yield cigarettes, the only differentiating factor of the BB-1 cigarette is that 22nd Centurys proprietary high-nicotine tobacco is used, which tobacco is planted, grown, harvested, cured, and processed in exactly the same manner as conventional commercial tobacco.

Pursuant to the Family Smoking Prevention and Tobacco Control Act of 2009 (Tobacco Control Act), the Company intends to demonstrate, through BB-1 exposure studies, compelling scientific evidence that 22nd Centurys cigarettes (i) reduce exposure to tobacco toxins and (ii) are reasonably likely to result in a measurable and substantial reduction in morbidity or mortality among individual tobacco users. The purpose of the Companys meeting with CTP will be to seek the Agencys concurrence that 22nd Centurys proposed BB-1 clinical study is adequate to support the development of BB-1 as a potential modified risk tobacco product.

22nd Century believes that BB-1 will allow smokers to obtain a satisfactory amount of nicotine per cigarette while inhaling less smoke, including tar and carbon monoxide. Commercial cigarette brands average a tar-to-nicotine ratio of approximately 13 to 1, meaning that the smoker must inhale 13 parts tar for every 1 part nicotine. The tar-to-nicotine ratio of BB-1 is approximately 6 to 1.

By utilizing a combination of 22nd Centurys proprietary high-nicotine content tobacco and a special low-yield cigarette design, BB-1 has the nicotine yield of a commercial full flavor cigarette, but the tar yield of an ultra-light commercial cigarette. Consequently, the Company expects that BB-1 cigarettes will curtail the compensatory smoking behaviors (such as taking bigger puffs and more puffs per cigarette) associated with what were formerly known in the United States as light and ultra-light cigarettes due to diluted nicotine amounts in the smoke, as compared to their full flavor (high yield) counterparts. The Tobacco Control Act banned the use of light, ultra-light and similar descriptors on the labeling and advertising of cigarettes since these types of cigarettes generally do not reduce smoke exposure.

Joseph Pandolfino, Founder and CEO of 22nd Century Group, explained, BB-1 is designed to deliver a conventional amount of nicotine to smokers with substantially less smoke. We look forward to working with the during the development of this exciting product. With FDA concurrence, 22nd Century will conduct an exposure study on BB-1 in the first quarter of 2015.

Chardan have just published an update which probably accounts for the sell-off today. I would post it here but I'm not sure if I'm allowed to do that. In a nut shell, they have kept their $9 price target but have pushed it out a bit in time (not sure until when) due to the MSA delay, change in CEO and other delays. They are still rating it as a buy, so overall nothing to panic about too much, I think.

Clarence company to work on medical marijuana

22nd Century Group Granted Meeting with FDA to Advance Development of a Potential Modified Risk Cigarette