22nd Century Group Inc. (NYSEAMERICAN:XXII) is positioned for growth in 2021, and the company is currently awaiting MRTP approval from the FDA, which, once given, will allow it to market its VLN cigarettes.
22nd Century awaiting MRTP for VLN cigarettes
The company offers innovative tech and products for cannabis and tobacco industries, and the nature of their business involves genetic modification for mass hemp and cannabis to suit market conditions. 22nd Century’s goal is to make low nicotine cigarettes that will help people stop smoking and contract the growing of the low nicotine tobacco. The company sells its very low nicotine (VLN) cigarettes to the government for research, and it is awaiting Modified Risk Tobacco Product (MRTP) authorization to start selling the cigarettes as healthy alternatives to high nicotine cigarettes. 22nd will roll out the cigarettes within 90 days of receiving FDA approval and leverage opportunities in the potential $800 billion market. Interestingly, VLN products don’t have any competition and could be the future of smoking cessation.
22nd Century leveraging partnerships to expand
Also, the company has entered several partnerships allowing it to leverage its cannabis research and genetics to boost revenue stream. The company wants to introduce its proprietary hemp and cannabis genetic to the market. Their innovative genetics with tailored terpene, THC, and growth profiles promises to make industrial hemp and cannabis farming profitable and more efficient. The company is working with master breeders to develop a database for better data collection. Equally, 22nd Century has several trademarks and patents on their genetic analysis tools for tobacco and cannabis.
For instance, the partnership with Panacea and needle Rock farms will help the company produce and process cannabis genetics and bring them to the market. Most importantly, the company patents its tech, and the products once they come to the market will benefit the company with new revenue streams. In New York, the company grows hemp for research, and they have an endowment with the University of Virginia for research. The company aims to replace tobacco growing with hemp ultimately.