XXII: 22nd Century Group stick soars after new partnership

WEB DESK: The 22nd Century Group—XXII—saw its stock price jump by an impressive 110.04 per cent in pre-market trading.

The XXII company is focused on reducing the health risks associated with smoking.

Read more: ‘Nicotine-like chemicals in US vapes may be more potent than nicotine’

The sudden spike in XXII stocks comes after the company announced new partnerships aimed at promoting its reduced nicotine cigarettes.  

New Cooperation

The company teamed up with well-known tobacco brands, such as “Smoker Friendly” and “Pinnacle”.

The partnerships are designed to make the new XXII product more available to consumers. The new product contains 95 per cent less nicotine than regular cigarettes, which makes them a healthier alternative than normal cigarettes.

The move also aligns with the US Food and Drug Administration’s (FDA) proposed new rules that aim to limit the amount of nicotine in tobacco plants.

The CEO of the 22nd Century Group talked about the importance of such business partnerships. He pointed out that the FDA recognises nicotine as a highly addictive substance.

The new regulations, proposed in January this year, aim to set a maximum nicotine level of 0.7 mg per gram of tobacco.

Meanwhile, the 22nd Century Group’s products average 0.5 mg per gram. This makes them the only combustible cigarette products approved by the FDA that meet the new standard.

Impact on the Public Health

The FDA’s proposed nicotine standard is expected to have a significant impact on public health. It aims to reduce smoking rates and the health problems associated with smoking.

The company’s new product is designed to give smokers a familiar option while allowing them  to manage their nicotine consumption.

The company reportedly uses special tobacco blends developed through patented technology that controls how nicotine is produced in the tobacco plant.

Stock Market Reaction

Despite facing challenges in the quarter of the year, the 22nd Century Group’s stock performance shows that investors are optimistic about the company’s future.

The stock rose 86.035 per cent in the pre-market trading on Thursday, following a 3.58 per cent drop the day before.

Read more: “95 percent safer” Vapes, 100 per cent directly harmful

However, it has experienced a significant decline of 96.25 per cent year to date and 99.83 per cent over the past 12 months.

Recent Developments

The recent stock surge is linked to the announcement of the XXII company’s new partnerships and the company’s alignment with the FDA proposed nicotine standards.