XXII news

Foley & Lardner LLP has issued opinions regarding 22nd Century Group, Inc.'s at-the-market offering of up to $18.8 million of common stock. The market impact is negligible as this is a standard legal confirmation for a previously announced equity offering.

The company reported third-quarter 2026 net revenues of approximately $4.8 million, an increase of 66% year-over-year, with gross profit turning positive for the first time. Preliminary results indicate a significant improvement in financial metrics, marking a key operational milestone.

22nd Century Group's board approved and stockholders ratified a 1-for-20 reverse stock split to reduce outstanding shares while maintaining authorized share count and par value. The reverse split is effective June 12, 2026 at 12:01 a.m., with fractional shares rounded up to whole shares.