Plant-based biotech company 22nd Century Group, Inc. (NASDAQ: XXII) reported its results on Thursday for the third quarter ended September 30, revealing net sales of $7.8 million for the period, up 6.9% from the prior year's period.
Moreover, its year-to-date net sales totaled $23 million, up 11% from the corresponding period of last year.
The Buffalo, New York-based company, involved in cannabis and hemp research, as well as tobacco harm reduction, reduced nicotine tobacco and improving health and wellness via plant science, also disclosed that it is in the process of applying for a USDA Organic Certification for its hemp farm, Needle Rock Farms.
James A. Mish, CEO of 22nd Century Group, said he is proud to "begin to monetize our highly disruptive hemp/cannabis plant lines and IP."
Q3 2021 Financial Highlights
- Gross profit for the third quarter of 2021 improved by $87 thousand, or 24% to $449 …