Stock Earnings Roundup: 22nd Century Group Inc (XXII), Earth Science Tech Inc (ETST), Innovative Industrial Properties Inc (IIPR)
22nd Century Group Inc (NYSEMKT:XXII) showing jumped of 4.07% and closed at $1.28, after gaining total volume of 1.27M shares. Its earnings per share (EPS) is -$0.15 and its beta value stands at 2.75 points and has total market capitalization of $121.01 million and a total of 90.70 million outstanding shares.
22nd Century Group Inc (XXII) on April 4, 2017 announced that the journal Nicotine and Tobacco Research has published a new study showing how 22nd Century’s Very Low Nicotine (VLN) cigarettes can be part of an effective tobacco control strategy for forward-looking countries like New Zealand. The study concluded that reducing the price of VLN cigarettes compared to regular cigarettes will reduce nicotine dependence and improve health and financial outcomes for smokers.
The New Zealand Government is committed to achieving its “Smokefree 2025” goal, which aims to reduce smoking prevalence and tobacco availability to minimal levels, thereby making New Zealand essentially a “smokefree” nation by 2025. Very Low Nicotine cigarettes have huge potential for helping New Zealand reach its Smokefree 2025 goals. VLN cigarettes have the behavioral and sensory aspects of conventional cigarettes while delivering negligible levels of nicotine. Numerous studies indicate that 22nd Century’s Very Low Nicotine cigarettes, with a nicotine content of 0.4mg/g (95% less nicotine than conventional tobacco), do not support addiction. Conducted by scientists from The University of Canterbury and Health New Zealand, the study entitled: Estimating Demand and Cross-Price Elasticity for Very Low Nicotine Content Cigarettes Using a Simulated Demand Task compared demand for regular cigarettes and Very Low Nicotine cigarettes across several price points. The study confirmed that imposing a modest price differential between conventional cigarettes and VLN cigarettes will result in smokers buying more non-addictive VLN cigarettes.
Earth Science Tech Inc (OTCMKTS:ETST) reported the plunge of -17.86% and closed at $1.38, with the total traded volume of 48,674.00 shares. During last trade its minimum price was $1.31 and it gained its highest price of $1.68 and has a total of 40.91 million outstanding shares.
Earth Science Tech, Inc., a biotechnology company, focuses on delivering nutraceuticals, bioceuticals, and dietary supplements in the areas of health, wellness, sports, and alternative medicine worldwide. It focuses on non-prescription nutritional and dietary supplements for the treatment of chronic pain, joint pain, inflammation, seizures, high blood pressure, memory loss, depression, weight management, nausea, aging, and overall wellness. The company also provides consulting services to the athletic facilities industry. Its marketing services include direct marketing, search engine optimization, public relations, email marketing, social media marketing, and development of referral programs. In addition, Earth Science Tech, Inc. retails health and wellness brands, as well as sports nutrition and dietary supplement products; and stocks and sells high grade cannabidiol rich hemp oil and products. The company was formerly known as Ultimate Novelty Sports, Inc. and changed its name to Earth Science Tech, Inc. in April 2014. The company was incorporated in 2010 and is headquartered in Boca Raton, Florida.
Innovative Industrial Properties Inc (NYSE:IIPR) increased 1.27% closed at $17.60 and traded with total volume of 121,206.00 shares, while the average trading remained 32,949.00 shares. During last trade its minimum price was $17.45 and it gained the highest price of $18.50. Its market capitalization was $61.27 billion.
Innovative Industrial Properties Inc (IIPR) on March 23, 2017 announced results for the quarter ended December 31, 2016 and for the period from June 15, 2016 (date of incorporation) through December 31, 2016.
Fourth Quarter 2016 Highlights
- The Company completed its initial public offering on the New York Stock Exchange.
- The Company acquired a 127,000 square foot industrial property in a sale-leaseback transaction with PharmaCann LLC (the “Initial Property”).
- The Company generated total revenues of $321,000 and rental revenues of $180,000, reflecting the pro rata rent paid by PharmaCann at its Initial Property in December 2016.
Initial Public Offering
On December 5, 2016, the Company completed its initial public offering on the New York Stock Exchange, issuing an aggregate of 3,350,000 shares of common stock and receiving approximately $61.1 million of net proceeds. Approximately $30.0 million of the net proceeds from the Company’s initial public offering were utilized to purchase the Initial Property. At December 31, 2016, the Company had cash and cash equivalents of approximately $33.0 million.