22nd Century Group Inc. Surged 26% in September. Here's Why
Shares of 22nd Century Group Inc. (NYSEMKT: XXII), a small-cap biotechnology company focused on tobacco, rose 25.9% in September, according to data from S&P Global Market Intelligence. The Food and Drug Administration's plan to reduce cigarette nicotine levels has been boosting the stock all year, and more good news about the company's intellectual property kept the party going last month.
This summer, recently appointed FDA Commissioner Scott Gottlieb outlined a plan to finally use powers granted by the Family Smoking Prevention and Tobacco Control Act. The law, enacted in 2009, gives the agency the power to regulate levels of nicotine and other harmful compounds that cigarette smokers inhale each day.
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Source: Fool.com
