Chairman & CEO Larry Firestone Details 2026 Priorities and Shareholder Value Strategy
MOCKSVILLE, N.C., April 29, 2026 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (Nasdaq: XXII), the only tobacco products company that has for 28 years led and continues to lead the fight against the harms of smoking driven by nicotine addiction, today issued the following letter to stockholders from Lawrence Firestone, the Chairman and Chief Executive Officer of 22nd Century Group, Inc.:
Dear Fellow Stockholders,
As I reflect on the past year, I am proud of the progress our team has made to form the foundation of the future 22nd Century Group and position the company for long-term growth and success. Now that the energy we put towards clearing the decks in 2024 and 2025 is behind us, we are executing with focus and discipline, advancing our brands, expanding our reach, and building the capabilities required to scale responsibly in a dynamic and evolving category.
At the core of our strategy is a conviction that has guided 22nd Century Group from the beginning. Smoking is a massive problem in the U.S. and around the world, and nicotine addiction is at its core. Approximately 28 million Americans and over one billion people worldwide smoke. The majority want to change their habit but cannot, because once addicted to nicotine it is almost impossible to break free. Governments have enacted legislation and imposed heavy taxes to curb smoking, but to no avail. Meanwhile, the major tobacco companies have been very effective in maintaining consumer addiction with new forms of nicotine in their product portfolios. The deck is stacked against the smokers that want to quit.
This is the problem 22nd Century Group exists to solve.
After 28 years of extensive research and development, we at 22nd Century Group have designed, received approval for, and brought to market what we believe is the most disruptive product to address smokers’ health and wellness. The reduced nicotine content VLN® cigarette that is scientifically proven to help smokers smoke less and fight their addiction. It’s the only such product authorized by the FDA.
Smokers enjoy smoking but do not enjoy the lack of freedom caused by nicotine. 70% of U.S smokers have declared their desire to quit smoking. That frames a market opportunity of over 20 million smokers who are looking for a solution that fits their lifestyle.
And the market is signaling now is the time for a truly disruptive product to challenge the addiction fueled tobacco industry. Consumers are making healthier choices in other product categories, including energy drinks, soda and alcohol, among others. Our VLN® cigarette is that product for cigarette smokers.
THE SCIENCE BEHIND VLN® HAS BEEN PROVEN
The science behind VLN® cigarettes is proven. Our products and results have been recognized and documented by the FDA and the World Health Organization in their efforts to establish low-nicotine standards worldwide. Multiple scientific studies have consistently demonstrated the merits of our VLN® products. Using our proprietary technology, we have created, and will continue to create, new strains of non-GMO low-nicotine tobacco to support our brands and other brands around the world as opportunities arise.
We continue to engage the scientific community in advancing approaches to this problem using the form factor most comfortable for the consumer: a cigarette.
LOOKING AHEAD TO 2026 AND BEYOND
Over the past year we re-introduced VLN® cigarettes to the market, and we are grateful to the retailers who embraced our products as early adopters. We are seeing initial sales and early consumer adoption across our retail outlets. That baseline of real-world consumer traction is encouraging, and it gives us a foundation to build on as we engage our marketing capability in 2026.
In 2026, we are expanding our retail footprint by adding retailers in new states and increasing outlet density where VLN® products are already available. As distribution and consumer adoption grow, we believe we are opening a new niche in the tobacco category, much as “better for you” products have become a standard part of categories like soda, energy drinks and alcohol.
We are also committed to devoting significantly more resources to our marketing activities. Today, most smokers have never heard of VLN® cigarettes. That has to change. Tobacco marketing is one of the most heavily regulated areas of consumer advertising, and we are committed to operating well within those boundaries. But within the rules, there is meaningful room to tell our story, reach adult smokers where they are, and make VLN® cigarettes easier to find and easier to try.
We believe that our current and future VLN® products are well positioned to pursue long-term shareholder value creation as the recent shifts in consumer interest in functional, wellness-oriented products continue to evolve. As we develop a diversified low nicotine product portfolio, strong distribution, and maintain our disciplined operating approach, we are focused on scaling domestically and internationally over time.
Our objective is to ensure that every stakeholder in the tobacco ecosystem, including governments, regulators, retailers, competitors, and most importantly consumers, understands the importance of our technology and our low-nicotine products. We believe the answer to the smoking problem is not more nicotine in another form. It is empowering smokers with the ability to actually smoke less.
Thank you for your continued trust and support in 22nd Century Group and our mission. We remain committed to building long-term shareholder value while staying true to our purpose. We will change the landscape of smoking and nicotine addiction, one smoker at a time.
Sincerely,
Lawrence D. Firestone
Chairman of the Board and Chief Executive Officer
About 22ndCentury Group, Inc.
22nd Century Group is pioneering the tobacco harm reduction movement by enabling smokers to take control of their nicotine consumption.
Our Technology is Tobacco
Our proprietary non-GMO reduced nicotine tobacco plants were developed using our patented technologies that regulate alkaloid biosynthesis activities resulting in a tobacco plant that contains 95% less nicotine than traditional tobacco plants. Our extensive patent portfolio has been developed to ensure that our high-quality tobacco can be grown commercially at scale. We continue to develop our intellectual property to ensure our ongoing leadership in the tobacco harm reduction movement.
Our Products
We created our flagship product, the VLN® cigarette using our low nicotine tobacco, to give traditional cigarette smokers an authentic and familiar alternative in the form of a combustible cigarette that helps them take control of their nicotine consumption. VLN® cigarettes have 95% less nicotine compared to traditional cigarettes and have been proven to allow consumers to greatly reduce their nicotine consumption.
FDA Authorized
Our VLN® cigarette is the only low nicotine combustible cigarette authorized by the FDA in the United States.
VLN® is a registered trademark of 22nd Century Limited LLC.
Learn more at xxiicentury.com, on X (formerly Twitter), on LinkedIn, and on YouTube.
Learn more about VLN® at tryVLN®.com.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements, including but not limited to our full year business outlook. Forward-looking statements typically contain terms such as “anticipate,” “believe,” “consider,” “continue,” “could,” “estimate,” “expect,” “explore,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and similar expressions. Forward-looking statements include, but are not limited to, statements regarding (i) our cost reduction initiatives, (ii) our expectations regarding regulatory enforcement, including our ability to receive an exemption from new regulations, and (iii) our financial and operating performance. Actual results might differ materially from those explicit or implicit in forward-looking statements. Important factors that could cause actual results to differ materially are set forth in “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 26, 2026. All information provided in this release is as of the date hereof, and the Company assumes no obligation to and does not intend to update these forward-looking statements, except as required by law.
Investor Relations & Media Contact
Matt Kreps
Investor Relations
22nd Century Group
[email protected]
214-597-8200