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Sep 30, 2020
22nd Century Group Q3 2020 Earnings Report
22nd Century Group's Q3 2020 results were announced, featuring a revenue increase and reduced net loss compared to the previous year.
Key Takeaways
22nd Century Group reported a 13.1% increase in net sales revenue to $7.3 million for the third quarter of 2020 compared to the same period in 2019. The company's net loss improved by $6.0 million, and its financial position remains strong with $26.8 million in cash, cash equivalents, and short-term investment securities.
Net sales revenue increased by 13.1% compared to Q3 2019, reaching $7.3 million.
The company is focused on securing MRTP authorization from the FDA for VLN.
Operating expenses improved by $3.2 million, and operating loss improved by $3.6 million compared to the prior-year quarter.
Net loss improved by $6.0 million compared to the same quarter in the prior year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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