Why 22nd Century Group, Inc. Are Climbing Higher Today
Shares of plant biotechnology company, 22nd Century Group, Inc. (NYSEMKT: XXII) hit a new 52-week high Friday, gaining 12.1% as of 3:52 p.m. EDT. Recently presented results from a big clinical trial suggest the company's patented tobacco technology helps smokers drop the habit.
Although the details of the 1,250-patient study are still under peer review, preliminary results from the University of Pittsburgh sponsored study bode well for 22nd Century Group. The lead investigator stated that smokers whose nicotine intake was immediately reduced by switching to cigarettes filled with the company's very low nicotine (VLN) tobacco had a better chance of rapidly quitting than smokers who were gradually weaned off the addictive substance.
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Source: Fool.com