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Dec 31, 2019
22nd Century Group Q4 2019 Earnings Report
22nd Century Group filed its 2019 annual report and maintained a strong balance sheet, with momentum continuing for its Modified Risk Tobacco Product and a major milestone achieved in hemp/cannabis research.
Key Takeaways
22nd Century Group filed its Annual Report on Form 10-K for the year ended December 31, 2019. The company is optimistic about the potential authorization of its Modified Risk Tobacco Product application and is making progress in the legal hemp/cannabis space through a partnership with KeyGene.
Entered into Warrant Exercise Agreements generating gross proceeds of approximately $11.3 million.
Conducted an initial closing of an investment in Panacea Life Sciences, Inc.
FDA authorized the Company to sell its very low nicotine content tobacco cigarettes under the brand names Moonlight® and Moonlight Menthol®.
Completed the first, high-density, hemp/cannabis genome sequencing through its partnership with KeyGene.