22nd Century Group is a small tobacco company focused on very low nicotine (VLN) cigarettes, which contain 95% less nicotine than conventional cigarettes. The company holds the only FDA-authorized Modified Risk Tobacco Product (MRTP) designation ever granted for a combustible cigarette, allowing it to market VLN products with claims like "95% less nicotine" and "Helps You Smoke Less." The company sells its own VLN-branded cigarettes as well as VLN products under partner brand names (e.g., Smoker Friendly VLN, Pinnacle VLN), leveraging existing distributor relationships to expand retail reach. 22nd Century also sells natural-style, additive-free cigarettes to round out its branded portfolio. Products are sold primarily through convenience stores, with VLN available in roughly 1,500 stores across 21 states. Alongside its branded business, 22nd Century operates a contract manufacturing (CMO) business, producing conventional cigarettes and filtered cigars for other brands out of its Mocksville, North Carolina factory — though management is actively winding down low-margin CMO contracts to focus on branded products. Longer term, 22nd Century aims to license its proprietary low-nicotine tobacco genetics and the VLN brand to other manufacturers. A notable regulatory tailwind is the FDA's January 2025 proposed rule mandating a maximum nicotine level across all combustible cigarettes — a standard only 22nd Century's VLN products currently meet.