XXII | Lack Of Details Is Keeping 22nd Century Group Hot

XXIIWith the smoke still smoldering from some of last night’s 4th of July fireworks, the smoking hot penny stock of 22nd Century Group, Inc. (XXII) is not yet ready to smash their proposed butt in the ashtray again. Gaining over 75% since announcing the conversion of preferred stock into common stock and plans to submit samples of their Brand A and Brand B cigarette to the FDA for approval, XXII stock came within just 0.03 today of their 52 week high. Whether or not the new thrill has come from the involvement of Sabby Healthcare Volatility Master Fund, Ltd. and Sabby Volatility Warrant Master Fund Ltd., savvy traders who were willing to “puff, puff, hold” are hoping that OTC cancer doesn’t stricken this run even though there isn’t any promotional campaign and the Company has been silent since their press releases from June 10.

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XXII Stock Quote

Market Cap: 37.03M
Last: 1.02 ▲ +0.101 (+10.99%)
Volume: 231,287
Dollar Volume: $230,085
Open: 0.919
High: 1.04
Low: 0.89
Trades: 72
Authorized: 300,000,000
Issued and Outstanding: 39,001,165
1st Resistance Point: 1.0767
2nd Resistance Point: 1.1333
1st Support Level: 0.9267

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Although no revenues to date have been recorded by 22nd Century Group, the Company owns or exclusively controls 109 issued patents in 78 countries plus an additional 39 pending patent applications. Goodrich Tobacco Company, LLC and Hercules Pharmaceuticals, LLC are subsidiaries of the Company’s main subsidiary, 22nd Century Ltd., and are business units for the Company’s premium cigarettes and modified risk tobacco products as well as their smoking cessation product, respectively.

One month ago when Sabby Healthcare Volatility Master Fund, Ltd. and Sabby Volatility Warrant Master Fund Ltd. converted an aggregate of 1,940.92 shares of Series A-1 Preferred Stock into an aggregate of 3,234,866 shares of XXII stock at a conversion price of $0.60 per share, Joseph Pandolfino, 22nd Century’s CEO, had some rather interesting details to reveal to the general public:

Firstly, 22nd Century and a U.S. tobacco product manufacturer entered into a non-binding letter of intent for potential collaborative business ventures with a manufacturer that was said to be a participating member of the Tobacco Master Settlement Agreement, an agreement among 46 states and the tobacco industry administered by the National Association of Attorneys General. Back in January, Goodrich Tobacco Company, a 22nd Century subsidiary, applied to the U.S. Alcohol and Tobacco Tax Trade Bureau for a federal permit to manufacture tobacco products.

Secondly, 22nd Century claimed to be in negotiations with multiple companies in the tobacco and pharmaceutical industries for licensing its technology and products. According to Pandolfino, 1 or more major licensing agreements should be finalized in Q3 of this year.

Thirdly, and probably the most important point, the Center for Tobacco Products of the U.S. Food and Drug Administration apparently requested to have a meeting with 22nd Century to discuss the company’s proprietary products. 22nd Century said that they agreed to meet with the FDA on June 17, 2013, but have not mentioned anything as to the outcome of the meeting or any other specifics. All that we know is that, meeting with the FDA has been a good thing for XXII stock.

About XXII Stock

22nd Century Group, Inc., through their wholly-owned subsidiary 22nd Century Ltd., is a plant biotechnology company specializing in technology that allows for the level of nicotine and other nicotinic alkaloids (e.g., nornicotine, anatabine and anabasine) in tobacco plants to be decreased or increased through genetic engineering and plant breeding.

Click here to view the SEC filings for XXII.
Click here to view the website for 22nd Century Group.

Last 5 Trading Sessions:

Date Last Change % Change Volume
07/05/13 1.0200 +0.1010 +10.99% 231,287
07/03/13 0.9190 +0.0690 +8.12% 192,500
07/02/13 0.8500 +0.0900 +11.84% 271,900
07/01/13 0.7600 +0.0500 +7.04% 254,600
06/28/13 0.7100 -0.0050 -0.70% 236,600


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Bottom Line:

Whether 22nd Century can come up with a less harmful or cheaper brand for smokers to chain onto, XXII stock smacking the skin that is protecting the 52 week high. With a PR issued next week, XXII stock could easily make a presence on the top 10 penny stocks traded list.

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