22nd Century (XXII) 10-K 11 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Mar. 09, 2021	Jun. 30, 2020
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity File Number	001-36338
Entity Registrant Name	22nd Century Group, Inc.
Entity Central Index Key	0001347858
Current Fiscal Year End Date	--12-31
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	98-0468420
Entity Address, Address Line One	8560 Main Street
Entity Address, Address Line Two	Suite 4
Entity Address, City or Town	Williamsville
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14221
City Area Code	716
Local Phone Number	270-1523
Title of 12(b) Security	Common Stock, $0.00001 par value
Security Exchange Name	NYSEAMER
Trading Symbol	XXII
Entity Current Reporting Status	Yes
ICFR Auditor Attestation Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 106
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		149,615,010

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 1,029	$ 485
Short-term investment securities	21,313	38,477
Accounts receivable, net	2,159	867
Inventory, net	2,034	2,266
Prepaid expenses and other assets	1,806	648
Total current assets	28,341	42,743
Property, plant and equipment:
Machinery and equipment, net	2,483	3,120
Operating leases right-of-use assets, net	247	602
Total property, plant and equipment	2,730	3,722
Other assets:
Intangible assets, net	8,211	8,494
Investments	6,536	8,403
Convertible note	5,876	5,589
Total other assets	20,623	22,486
Total assets	51,694	68,951
Current liabilities:
Notes payable	539	581
Operating lease obligations	247	220
Accounts payable	1,116	1,997
Accrued expenses	4,830	2,619
Accrued severance, current	339	359
Deferred income	272	5
Total current liabilities	7,343	5,781
Long-term liabilities:
Notes payable		292
Operating lease obligations		382
Severance obligations	241	446
Total liabilities	7,584	6,901
Shareholders' equity
Common stock value	1	1
Capital in excess of par value	189,439	187,735
Accumulated other comprehensive (loss) income	74	7
Accumulated deficit	(145,404)	(125,693)
Total shareholders' equity	44,110	62,050
Total liabilities and shareholders' equity	$ 51,694	$ 68,951

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares issued	139,061,690	138,362,809
Common stock, shares outstanding	139,061,690	138,362,809

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Sale of products, net	$ 28,111	$ 25,833	$ 26,426
Cost of goods sold (exclusive of depreciation shown separately below):
Products	26,673	25,818	25,527
Gross profit (loss)	1,438	15	899
Operating expenses:
Selling, general and administrative (including equity-based compensation )	14,971	12,954	8,585
Impairment of intangible assets	176	1,142	0
Depreciation	688	589	523
Amortization	658	836	820
Total operating expenses	20,621	23,581	24,918
Operating loss	(19,183)	(23,566)	(24,019)
Other income (expense):
Unrealized (loss) gain on investment	(434)	(2,419)	284
Impairment of Panacea investment	(1,741)
Realized gain on investments			14,493
Realized (loss) on short-term investment securities	5	221	(54)
Litigation expense		(1,891)
Gain on the sale of machinery and equipment	1	87
Dividend income			271
Interest income, net	1,751	1,066	1,069
Interest expense	(72)	(56)	(11)
Total other income (expense)	(490)	(2,992)	16,052
Loss before income taxes	(19,673)	(26,558)	(7,967)
Income taxes	38
Net loss	(19,711)	(26,558)	(7,967)
Other comprehensive income (loss):
Unrealized gain (loss) on short-term investment securities	72	207	(22)
Reclassification of (gain) loss to net loss	(5)	(221)	43
Other comprehensive income (loss)	67	(14)	21
Comprehensive loss	$ (19,644)	$ (26,572)	$ (7,946)
Net loss per common share - basic and diluted	$ (0.14)	$ (0.21)	$ (0.06)
Weighted average common shares outstanding - basic and diluted (in thousands)	138,813	125,883	124,299
Products Other Than Modified Risk Tobacco Products [Member]
Operating expenses:
Research and development (including equity-based compensation )	$ 4,090	$ 6,381	$ 5,215
Modified Risk Tobacco Product [Member]
Operating expenses:
Research and development (including equity-based compensation )	$ 38	$ 1,679	$ 9,775

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Capital in Excess of Par Value [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]	Total
Beginning balance at Dec. 31, 2017	$ 1	$ 166,591		$ (91,168)	$ 75,424
Beginning balance (in shares) at Dec. 31, 2017	123,569,367
Stock issued in connection with warrant exercises (in shares)	490,012				490,012
Stock issued in connection with option exercises		445			$ 445
Stock issued in connection with option exercises (in shares)	583,214				613,000
Equity-based compensation		3,187			$ 3,187
Unrealized gain (loss) on short-term investment securities			$ (22)		(22)
Reclassification of warrant liability to capital in excess of par		168			168
Reclassification of losses (gains) to net loss			43		43
Net loss				(7,967)	(7,967)
Ending balance at Dec. 31, 2018	$ 1	170,391	21	(99,135)	71,278
Ending balance (in shares) at Dec. 31, 2018	124,642,593
Stock issued in connection with RSU vesting (in shares)	100,000
Stock issued in connection with warrant exercises		10,616			$ 10,616
Stock issued in connection with warrant exercises (in shares)	11,293,211
Stock issued in connection with option exercises (in shares)	39,988				75,000
Equity-based compensation		3,540			$ 3,540
Stock issued in connection with litigation expense		1,891			1,891
Stock issued in connection with litigation expense (in shares)	990,000
Shares issued for Panacea, value		1,297			1,297
Shares issued for Panacea (in shares)	1,297,017
Unrealized gain (loss) on short-term investment securities			207		207
Reclassification of losses (gains) to net loss			(221)		(221)
Net loss				(26,558)	(26,558)
Ending balance at Dec. 31, 2019	$ 1	187,735	7	(125,693)	62,050
Ending balance (in shares) at Dec. 31, 2019	138,362,809
Stock issued in connection with RSU vesting (in shares)	552,800
Stock issued in connection with option exercises		50			$ 50
Stock issued in connection with option exercises (in shares)	146,081				399,000
Equity-based compensation		1,654			$ 1,654
Unrealized gain (loss) on short-term investment securities			72		72
Reclassification of losses (gains) to net loss			(5)		(5)
Net loss				(19,711)	(19,711)
Ending balance at Dec. 31, 2020	$ 1	$ 189,439	$ 74	$ (145,404)	$ 44,110
Ending balance (in shares) at Dec. 31, 2020	139,061,690

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (19,711)	$ (26,558)	$ (7,967)
Adjustments to reconcile net loss to cash used in operating activities:
Impairment of intangible assets	176	1,142	0
Impairment of Panacea investment	1,741
Amortization and depreciation	1,094	1,186	1,200
Amortization of license fees	251	239	143
Amortization of ROU assets	182	212
Realized gain on the sale of investments			(14,493)
Unrealized (gain) loss on investment	434	2,419	(284)
Realized (gain) loss on short-term investment securities	(5)	(221)	54
Litigation settlement		1,891
Gain on the sale of machinery and equipment	(1)	(87)
Warrant liability (gain) loss			(49)
Accretion of non cash interest expense	43	48	11
Accretion of non-cash interest income	(369)	(22)
Equity-based employee compensation expense	1,654	3,540	3,187
Inventory write-off	521	985
(Decrease) increase in inventory reserve			(95)
(Increase) decrease in assets:
Accounts receivable	(1,292)	4	86
Inventory	(289)	(207)	334
Prepaid expenses and other assets	(787)	280	(182)
Increase (decrease) in liabilities:
Operating lease obligations	(552)	(212)
Accounts payable	(936)	(732)	322
Accrued expenses	2,183	792	(167)
Accrued severance	(225)	792
Deferred income	267	(78)	55
Net cash provided by (used in) operating activities	(15,621)	(14,588)	(17,845)
Cash flows from investing activities:
Acquisition of patents and trademarks	(468)	(565)	(657)
Acquisition of machinery and equipment	(54)	(527)	(449)
Proceeds from the sale of machinery and equipment	6	166
Investment in Panacea		(12,000)
Proceeds from sale of investments			13,052
Sales and maturities of short-term investment securities	39,728	19,320	37,415
Purchase of short-term investment securities	(22,743)	(1,842)	(34,216)
Net cash provided by investing activities	16,469	4,552	15,145
Cash flows from financing activities:
Payment on note payable	(2,549)	(700)	(800)
Proceeds from note payable issuance	2,195
Proceeds from exercise of stock options	50		445
Net proceeds from exercise of stock warrants		10,616
Proceeds from SBA loan	1,183
Repayment of SBA loan	(1,183)
Net cash used in financing activities	(304)	9,916	(355)
Net increase (decrease) in cash and cash equivalents	544	(120)	(3,055)
Cash and cash equivalents - beginning of period	485	605	3,660
Cash and cash equivalents - end of period	1,029	485	605
Net cash paid for:
Cash paid during the period for interest	29	3
Non-cash transactions:
Patent and trademark additions included in accounts payable	55	155	152
Machinery and equipment additions included in accounts payable	2		19
Right-of-use assets and corresponding operating lease obligations	198	814
Patent and trademark additions included in accrued expenses	$ 28
Licenses acquired with notes payable			2,326
Reclassification of warrant liability to capital in excess of par			$ 168
Stock issued in connection with investment		$ 1,297

NATURE OF BUSINESS AND SUMMARY

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. – NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation Nature of Business Reclassifications – Preferred stock authorized Concentration of Credit Risk Cash and cash equivalents – Short-term investment securities twenty-four the other income (expense) portion of the Company’s Consolidated Statements of Operations and Comprehensive Loss. Interest income is recorded on the accrual basis and presented net of investment related fees. Accounts receivable Inventory Machinery and equipment – 3 10 years Intangible Assets The Company’s capitalized intellectual property costs are amortized using the straight-line method over the remaining statutory life of the granted patent assets in each of the Company’s patent families, which have estimated expiration dates ranging from 2026 to 2041. Periodic maintenance or renewal fees are expensed as incurred. Annual minimum license fees are charged to expense. License fees paid for third-party intellectual property are amortized on a straight-line basis over the last to expire patents, which patent expiration dates are expected to range from 2019 through 2036. The Company believes costs associated with becoming a signatory to the MSA and acquiring a predicate cigarette brand have an indefinite life and as such, no amortization is taken. At each reporting period, the Company evaluates whether events and circumstances continue to support the indefinite-lived classification. Impairment of Long-Lived Assets Property, plant, and equipment Intangibles, Goodwill, and Other Intangible assets subject to amortization are reviewed for strategic importance and commercialization opportunity prior to expiration. If it is determined that the asset no longer supports the Company’s strategic objectives and/or will not be commercially viable prior to expiration, the asset is impaired. In addition, the Company will assess the expected future undiscounted cash flows for its intellectual property based on consideration of future market and economic conditions, competition, federal and state regulations, and licensing opportunities. If the carrying value of such assets are not recoverable, the carrying value will be reduced to fair value. Indefinite-lived intangible asset carrying values are reviewed at least annually or more frequently if events or changes in circumstances indicate that it is more likely than not that an impairment exists. The Company first performs a qualitative assessment and considers its current strategic objectives, future market and economic conditions, competition, and federal and state regulations to determine if an impairment is more likely than not. If it is determined that an impairment is more likely than not, a quantitative assessment is performed to compare the asset carrying value to fair value. Right-of-use assets (ROU) and Lease Obligations leases and record a Right-of-use (“ROU”) asset and a corresponding lease obligation for leases that qualified as either finance or operating leases. The Company elected to use the practical expedient which allowed the Company to carry forward the historical lease classifications of the existing leases. The Company determined that its leases contained (1) no variable lease expenses, (2) no termination options, (3) no residual lease guarantees, and (4) no material restrictions or covenants. All remaining renewal options were included in the computation of the ROU assets and lease obligations upon adoption. The Company reviews any lease arrangements in accordance with ASU 2016-02, Subtopic ASC 842, Leases. Any lease having a lease term greater than twelve months will be recognized on the Consolidated Balance Sheets as a ROU asset with an associated lease obligation—all other leases are considered short-term in nature and will be expensed on a month-to-month basis. The ROU assets and lease obligations are recognized as of the commencement date at the net present value of the fixed minimum lease payments for the lease term. The discount rate used is the interest rate implicit in the lease, if available, or the Company’s incremental borrowing rate which is determined using a base line rate plus an applicable spread. All financial results and disclosures for periods beginning after January 1, 2019 are presented in accordance with Subtopic ASC 842. 2018 results have not been adjusted continue to be reported under ASC 840. Refer to Note 4 for additional information regarding our ROU assets and liabilities. Income Taxes As a result of the Company’s history of cumulative net operating losses and the uncertainty of their future utilization, the Company has established a valuation allowance to fully offset its net deferred tax assets as of December 31, 2020 and December 31, 2019. Additionally, the Company has elected to present other comprehensive income items relating to net unrealized gains on short-term investment securities gross and not net of taxes. The Company’s federal and state tax returns for the years ended December 31, 2017 through December 31, 2019 are currently open to audit under the statutes of limitations. There are no pending audits as of December 31, 2020. Stock Based Compensation Revenue Recognition Derivatives Research and Development Loss Per Common Share Use of Estimates Fair Value of Financial Instruments Investments The Company accounts for investments in equity securities of other entities under the equity method of accounting if the Company’s investment in the stock of the other entity provides the Company with the ability to have significant influence over the operating and financial policies of the investee. If the Company does not have significant influence over the operating or financial policies of the entity, and such equity investment does not have a readily determinable market value, then the Company accounts for such equity investments in accordance with FASB ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assts and Financial Liabilities, which the Company adopted in the first quarter of 2018 with respect to the Company’s investments. Under ASU 2016-01 equity securities are recorded at fair value, with changes in fair value recorded through the statement of operations. Equity securities without a readily determinable market value are carried at cost less impairment, adjusted for observable price changes in orderly transactions for an identical or similar investment of the same issuer. The Company considers debt instruments as available-for-sale securities, and accordingly, all unrealized gains and losses incurred on the short-term investment securities (the adjustment to fair value) are recorded in other comprehensive income or loss on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Refer to Note 6 for additional disclosures relating to the Company’s investments. Loss Contingencies Recent Accounting Pronouncement(s) – In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” The standard replaces the incurred loss model with the current expected credit loss (CECL) model to estimate credit losses for financial assets measured at amortized cost and certain off-balance sheet credit exposures. The CECL model requires companies to estimate credit losses expected over the life of the financial assets based on historical experience, current conditions and reasonable and supportable forecasts. The provisions of the ASU are effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years—excluding small reporting companies (SRCs) which have an effective date beginning after December 15, 2022 and interim periods within those fiscal years. The Company plans to adopt ASU 2016-13 on January 1, 2023 and is evaluating the expected impacts. We consider the applicability and impact of all ASUs. If the ASU is not listed above, it was determined that the ASU was either not appliable or would have an immaterial impact on our financial statements and related disclosures. .

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2020
INVENTORY
INVENTORY	NOTE 2. – INVENTORY Inventories at December 31, 2020 and December 31, 2019 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2020 2019 Inventory - tobacco leaf ​ $ 821 ​ $ 1,178 Inventory - finished goods ​ ​ ​ ​ ​ Cigarettes and filtered cigars ​ 171 ​ 106 Inventory - raw materials ​ ​ ​ ​ Cigarette and filtered cigar components ​ ​ 1,142 ​ ​ 1,082 ​ ​ ​ ​ ​ ​ ​ Less: inventory reserve ​ (100) ​ (100) ​ ​ $ 2,034 ​ $ 2,266 ​ During the year ended December 31, 2020, the Company wrote off inventory totaling $521 on the Company’s Consolidated Statement of Operations and Comprehensive Loss ( $361 included within research and development expenses and $161 included within cost of goods sold). During the year ended December 31, 2019, the Company wrote off inventory totaling $985 which is included within research and development expenses on the Company’s Consolidated Statement of Operations and Comprehensive Loss.

MACHINERY AND EQUIPMENT

MACHINERY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2020
MACHINERY AND EQUIPMENT
MACHINERY AND EQUIPMENT	NOTE 3. – MACHINERY AND EQUIPMENT Machinery and equipment at December 31, 2020 and December 31, 2019 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ Useful Life 2020 2019 Cigarette manufacturing equipment ​ 3 10 years ​ $ 4,893 ​ $ 4,870 Office furniture, fixtures and equipment ​ 5 Years ​ 20 ​ 152 Laboratory equipment ​ 5 Years ​ 117 ​ 125 Leasehold improvements ​ 6 Years ​ 123 ​ 257 ​ ​ ​ ​ ​ ​ ​ Less: accumulated depreciation ​ ​ (2,670) ​ (2,284) Machinery and equipment, net ​ ​ $ 2,483 ​ $ 3,120 ​ Depreciation expense was $688, $589, and $523 for the years ended December 31, 2020, 2019 and 2018, respectively.

RIGHT-OF-USE ASSETS, LEASE OBLI

RIGHT-OF-USE ASSETS, LEASE OBLIGATIONS, AND OTHER LEASES	12 Months Ended
	Dec. 31, 2020
RIGHT-OF-USE ASSETS, LEASE OBLIGATIONS, AND OTHER LEASES
RIGHT-OF-USE ASSETS, LEASE OBLIGATIONS, AND OTHER LEASES	NOTE 4. – RIGHT-OF-USE ASSETS, LEASE OBLIGATIONS, AND OTHER LEASES The Company leases a manufacturing facility and warehouse in North Carolina, a corporate headquarters in Williamsville, New York, and a laboratory space in Buffalo, New York. During the fourth quarter of 2020, the Company made the decision to not renew its corporate headquarters lease which initial term expired on January 1, 2021. Upon adoption of ASC 842-Leases, the Company assumed all three optional one-year renewal options which created a lease term expiration of all initial renewal options within the lease agreement—which assumed a lease term expiration in 2023. With the non-renewal decision, the Company’s lease will operate month-to-month beginning on January 1, 2021. As such, the ROU asset and lease obligation was removed from the Consolidated Balance Sheets as of December 31, 2020. The remaining ROU assets and lease obligations relate to the laboratory space in New York and the manufacturing facility and warehouse in North Carolina. The following table summarized the Company’s discount rate and remaining lease terms as of December 31, 2020: ​ ​ ​ ​ ​ ​ Weighted average remaining lease term in years ​ ​ 1.1 ​ Weighted average discount rate ​ 4.5 % ​ Future minimum lease payments as of December 31, 2020 are as follows: ​ ​ ​ ​ ​ 2021 ​ $ 245 2022 ​ 9 Total lease payments ​ 254 Less: imputed interest ​ (6) Total ​ $ 248 ​ The Company also leases a warehouse space in North Carolina to store and operate tobacco leaf processing equipment as well as proprietary tobacco leaf inventory. This lease is month-to-month and is not included within our Consolidated Balance Sheets. Operating lease costs for the years ended December 31, 2020 and 2019 were $335 and $250, respectively. In January 2021, the Company announced that it would relocate its corporate headquarters to the Larkinville District in downtown Buffalo and executed a new lease agreement for such space. Refer to Note 17 for additional information on this Type II subsequent event.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
INTANGIBLE ASSETS
INTANGIBLE ASSETS	NOTE 5. – INTANGIBLE ASSETS Our intangible assets at December 31, 2020 and December 31, 2019 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Intangible assets, net ​ ​ Patent and trademark costs ​ $ 5,667 ​ $ 5,712 Less: accumulated amortization ​ (2,936) ​ (2,839) Patent and trademark costs, net ​ 2,731 ​ 2,873 ​ ​ ​ ​ ​ ​ ​ License fees ​ 3,876 ​ 3,777 Less: accumulated amortization ​ (948) ​ (709) License fees, net ​ 2,928 ​ 3,069 ​ ​ ​ ​ ​ ​ ​ MSA signatory costs ​ 2,202 ​ 2,202 ​ ​ ​ ​ ​ ​ License fee for predicate cigarette brand ​ 350 ​ 350 ​ ​ $ 8,211 ​ $ 8,494 ​ Amortization expense relating to the above intangible assets for the years ended December 31, 2020, 2019 and 2018 amounted to $658, $836, and $820, respectively. During years ended December 31, 2020 and 2019, the Company incurred an impairment related to patent intellectual property that would be expired prior to expected commercialization. Impairment expense the year ended December 31, 2020 amounted to $176 (cost of approximately $448 less accumulated amortization of approximately $302). Impairment expense for the year ended December 31, 2019 amounted to $1,142 (cost of $2,092 less accumulated amortization of approximately $950) and related to tobacco intellectual property (patents, patent applications, and trademarks) that did not align to the Company’s very low nicotine strategic objectives. The impairment charges are included as a separate line item in operating expenses on the Company’s Consolidated Statements of Operations and Comprehensive Loss. There was no impairment recorded during for the year ended December 31, 2018. The estimated annual average amortization expense patent costs license fees

INVESTMENTS AND CONVERTIBLE NOT

INVESTMENTS AND CONVERTIBLE NOTE RECEIVABLE	12 Months Ended
	Dec. 31, 2020
INVESTMENTS & CONVERTIBLE NOTE RECEIVABLE
INVESTMENTS & CONVERTIBLE NOTE RECEIVABLE	NOTE 6. – INVESTMENTS & CONVERTIBLE NOTE RECEIVABLE Investment in Panacea Life Sciences, Inc. On December 3, 2019, the Company entered into a securities purchase agreement with Panacea Life Sciences, Inc. (“Panacea”) for consideration valued at $13,297 ( $12,000 cash and $1,297 of the Company’s shares of common stock valued at $1 per share) in exchange for a 15.8% ownership interest. The Company’s investment consists of three instruments: shares of Series B preferred stock (“preferred stock”); a convertible note receivable with a $7,000 face value; and a warrant (“stock warrant”) to purchase additional shares of Series B preferred stock, to obtain 51% ownership of Panacea, at an exercise price of $2.344 per share. The convertible note receivable has a term of five years , bears interest of 10% per annum, and can be converted to shares of Series B preferred stock at the Company’s discretion. The embedded conversion option is not considered a derivative instrument for accounting purposes The preferred stock carries an annual 10% cumulative dividend, compounded annually, and has an implicit put option after the fifth anniversary date so long that the stock warrants have not been exercised. The put option is not considered a derivative instrument for accounting purposes. The stock warrant may be exercised at any time after the fifth anniversary date and would be accelerated if Panacea achieves certain sales targets for two consecutive years. The Series B preferred stock also has first priority equity preferences in the event of a liquidation, sale, or transfer of Panacea assets. These rights entitle the Company to the original Series B issuance price of $7,000 plus any unpaid accrued dividends. To allocate the cost of the stock warrant, the Company calculated a fair value based on the following assumptions: volatility of 70%, discount of 25% for lack of marketability, and a risk-free rate of 2%. The value of the stock warrant was allocated to the preferred stock and the convertible note receivable, equally, as a discount to the acquisition price. The discount on the preferred stock was determined to be for lack of control and the discount on the convertible note receivable was determined to be related to issuing the note at a below market interest rate for similar instruments. The discount on the convertible note receivable amounted to $1,433 and is being amortized into interest income over the term of the note. The discount on the preferred stock amounted to $1,433 and is being amortized into interest income over the term of the implicit put option. The convertible note receivable and the preferred stock investment are considered available for sale debt securities with a private company that is not traded in active markets. Since observable price quotations were not available at acquisition, fair value was estimated based on cost less an appropriate discount upon acquisition. The discount of each instrument is accreted into interest income over the respective term as shown within the Company’s Consolidated Statements of Operations and Comprehensive Loss. See Note 7 for additional information on these fair value measurements. The stock warrant was recorded at its cost basis in accordance with the practicability exception under ASU 2016-01. Impairment of Panacea Investment: As a result of increased competition and other macroeconomic factors, the Company recognized an impairment of $1,062 on the Panacea stock warrant during the second quarter of 2020. The impairment is recorded within the Consolidated Statements of Operations and Comprehensive Loss as “Impairment of Panacea Investment.” The Company recently entered into a non-binding agreement with Panacea to potentially restructure the investment and business relationship. The non-binding agreement with Panacea generally provides for (i) the transfer of $7,170 in operational assets, including an agricultural facility and various extraction and distillation equipment, from Panacea to the Company in exchange for the cancellation of the $7,000 convertible note receivable plus accrued interest; (ii) an amendment of transaction documents to remove any future investment rights and obligations of the Company in Panacea, (iii) cancellation of the stock warrant to purchase additional Series B preferred stock; and (iv) various other amendments to Panacea’s charter to amend various investors rights therein. As a result of the expected outcome of this non-binding agreement, the Company determined that the carrying value of the stock warrant and the convertible note receivable plus accrued interest exceeded the fair value outlined in the non-binding agreement. As such, the Company recorded an impairment of $679, which reduced the stock warrant carrying value, so that the carrying value of the stock warrant, and convertible note receivable plus accrued interest amounted to a value of $7,170 as of December 31, 2020. The impairment is recorded within the Consolidated Statements of Operations and Comprehensive Loss as “Impairment of Panacea Investment.” In accordance with ASC 326- Financial Instruments-Credit Losses As of December 31, 2020, the total carrying value of the Company’s investment in Panacea is outlined below, net of 2020 impairment expense: ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 Panacea preferred stock $ 5,173 Panacea stock warrant ​ ​ 1,124 Accrued interest on convertible note receivable (included within prepaid expenses and other assets) ​ ​ 170 Convertible note receivable ​ ​ 5,876 Total ​ $ 12,343 ​ Investment in Anandia The Company (through its wholly-owned subsidiary, Botanical Genetics) previously held an equity investment in Anandia, a Canadian plant biotechnology company. Effective January 1, 2018, the Company adopted Financial Accounting Standards Board ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This guidance changed how entities account for equity investments that do not result in consolidation and are not accounted for under the equity method of accounting. Under ASU 2016-01, the Company was required to measure its investment in Anandia at fair value at the end of each reporting period and recognize changes in fair value in net income. As allowed by ASU 2016-01, since the Company’s investment in Anandia did not have readily determinable fair value, the Company elected to account for its investment at cost. The cost basis is required to be adjusted in the event of impairment, if any, and for any observable price changes in orderly transactions for the identical or a similar investment of the same issuer. As result of an equity issuance by Anandia in January of 2018, the Company recorded an unrealized gain on its investment in Anandia in the amount of $6,147 during the first quarter of 2018. On August 8, 2018, all of Anandia’s outstanding common stock was acquired by Aurora Cannabis, Inc. (“Aurora”), a Canadian company (NYSE: ACB and TSX: ACB), and as a result the Company received in exchange for its Anandia equity: (i) 1,947,943 free trading shares of Aurora common stock, and (ii) Aurora stock warrants to purchase 973,971 shares of Aurora common stock (the “Anandia transaction”). The stock warrants have a five-year contractual term, an exercise price of $9.37 Canadian Dollars (CAD) per share. The fair value of the Aurora common stock and Aurora stock warrant was $9,222 and $2,808, respectively. The Company recorded a realized gain on the transaction in the amount of $4,516 during the third quarter of 2018. Additionally, the $6,147 unrealized gain on the Company’s investment in Anandia became a realized gain at time of the Anandia transaction. Subsequent to the transaction, the Company sold all of its Aurora common stock resulting in net sales proceeds to the Company of $13,052 and realized a gain on the sale of $3,830 during the year ended December 31, 2018. Investment in Aurora Cannabis, Inc. The Company’s investment in Aurora Cannabis Inc. (“Aurora”) stock warrant, discussed in the Anandia section above, are considered equity securities in accordance with ASC 321 – Investments – Equity Securities and a derivative instrument under ASC 815 – Derivatives and Hedging. The stock warrants are not designated as a hedging instrument, and in accordance with ASC 815, the Company’s investment in stock warrants are recorded at fair value with changes in fair value recorded to unrealized gain/loss as shown within the Company’s Consolidated Statements of Operations and Comprehensive Loss. See Note 7 for additional information on the fair value measurements. Reverse stock split- The carrying value of the Company’s investments at December 31, 2020 and December 31, 2019 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 ​ 2019 Aurora stock warrants $ 239 $ 673 Panacea preferred stock ​ ​ 5,173 ​ ​ 4,865 Panacea stock warrant ​ ​ 1,124 ​ ​ 2,865 Total Investments ​ $ 6,536 ​ $ 8,403 Convertible Note Receivable ​ $ 5,876 ​ $ 5,589 ​

FAIR VALUE MEASUREMENTS AND SHO

FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS	12 Months Ended
	Dec. 31, 2020
FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS
FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS	NOTE 7. – FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS FASB ASC 820 - “Fair Value Measurements and Disclosures” establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: ● Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; ● Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and ● Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. A financial asset’s or a financial liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following table presents information about our assets and liabilities measured at fair value at December 31, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ December 31, 2020 ​ Level 1 Level 2 Level 3 Total Assets ​ ​ ​ ​ Short-term investment securities: ​ ​ ​ ​ Money market funds ​ $ 8,636 ​ $ — ​ $ — ​ $ 8,636 Corporate bonds ​ — ​ 12,677 ​ — ​ 12,677 Total short-term investment securities ​ $ 8,636 ​ $ 12,677 ​ $ — ​ $ 21,313 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment - Aurora stock warrants ​ $ — ​ $ — ​ $ 239 ​ $ 239 Investment - Panacea preferred stock ​ $ — ​ $ — ​ $ 5,173 ​ $ 5,173 Convertible note receivable ​ $ — ​ $ — ​ $ 5,876 ​ $ 5,876 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ December 31, 2019 ​ Level 1 Level 2 Level 3 Total Assets ​ ​ ​ ​ Short-term investment securities: ​ ​ ​ ​ Money market funds ​ $ 12,146 ​ $ — ​ $ — ​ $ 12,146 Corporate bonds ​ — ​ 26,331 ​ — ​ 26,331 Total short-term investment securities ​ $ 12,146 ​ $ 26,331 ​ $ — ​ $ 38,477 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment - Aurora stock warrants ​ $ — ​ $ — ​ $ 673 ​ $ 673 Investment - Panacea preferred stock ​ $ — ​ $ — ​ $ 4,865 ​ $ 4,865 Convertible note receivable ​ $ — ​ $ — ​ $ 5,589 ​ $ 5,589 ​ Money market mutual funds are valued at their daily closing price as reported by the fund. Money market mutual funds held by the Company are open-end mutual funds that are registered with the SEC that generally transact at a stable $1.00 Net Asset Value (“NAV”) representing its estimated fair value. On a daily basis the fund’s NAV is determined by the fund based on the amortized cost of the funds underlying investments. Corporate bonds are valued using pricing models maximizing the use of observable inputs for similar securities. The investment in the Aurora stock (ACB) warrants is measured at fair value using the Black-Scholes pricing model and is classified within Level 3 of the valuation hierarchy. The unobservable input is an estimated volatility factor of 137% and 83% as of December 31, 2020 and December 31, 2019, respectively. Therefore, changes in market volatility will impact the fair value measurement of our ACB investment. A 20% increase or decrease in the volatility factor used as of December 31, 2020 would have the impact of increasing or decreasing the fair value measurement of the stock warrants by approximately $115. A 20% increase or decrease in the volatility factor used at December 31, 2019 would have the impact of increasing or decreasing the fair value measurement of the stock warrants by approximately $260. The Panacea convertible note receivable and the preferred stock investment are considered available-for-sale debt securities with a private company that is not traded in active markets. Since observable price quotations were not available, fair value was estimated based on cost less an appropriate discount upon acquisition. The discount of each instrument is accreted into interest income over the respective term and will adjust the amortized cost basis of the investments. See Note 6 for further information regarding the Company’s investment in Panacea. The following table sets forth a summary of the changes in fair value of the Company’s Level 3 investments for the year ended December 31, 2020. ​ ​ ​ ​ ​ Fair Value at December 31, 2018 $ 3,092 Unrealized gain as a result of change in fair value ​ (2,419) Accretion of interest income on convertible note receivable ​ ​ 22 Panacea convertible note receivable ​ ​ 5,567 Preferred stock in Panacea ​ ​ 4,865 Fair Value at December 31, 2019 ​ $ 11,127 Unrealized loss as a result of change in fair value ​ ​ (434) Accretion of interest on Panacea investment ​ ​ 595 Fair Value at December 31, 2020 ​ $ 11,288 ​ The following tables set forth a summary of the Company’s available-for-sale debt securities from amortized cost basis to fair value as of December 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale Debt Securities ​ ​ December 31, 2020 ​ ​ Amortized ​ Gross ​ Gross ​ ​ ​ ​ ​ Cost ​ Unrealized ​ Unrealized ​ Fair ​ Basis Gains Losses Value Corporate bonds ​ $ 12,603 ​ $ 74 ​ $ — ​ $ 12,677 Convertible note receivable ​ 5,876 ​ — ​ — ​ 5,876 Investment - Panacea preferred stock ​ 5,173 ​ — ​ — ​ 5,173 ​ ​ $ 23,652 ​ $ 74 ​ $ — ​ $ 23,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale Debt Securities ​ ​ December 31, 2019 ​ ​ Amortized ​ Gross ​ Gross ​ ​ ​ ​ ​ Cost ​ Unrealized ​ Unrealized ​ Fair ​ Basis Gains Losses Value Corporate bonds ​ $ 26,324 ​ $ 64 ​ $ (57) ​ $ 26,331 Convertible note receivable ​ 5,589 ​ — ​ — ​ 5,589 Investment - Panacea preferred stock ​ 4,865 ​ — ​ — ​ 4,865 ​ ​ $ 36,778 ​ $ 64 ​ $ (57) ​ $ 36,785 ​ The following table sets forth a summary of the Company’s available-for-sale securities from amortized cost basis and fair value by contractual maturity as of December 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale Debt Securities ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ Amortized ​ ​ ​ ​ Amortized ​ ​ ​ ​ Cost Basis Fair Value Cost Basis Fair Value Due in one year or less ​ $ 11,692 ​ $ 11,753 ​ $ 16,823 ​ $ 16,851 Due after one year through five years ​ 11,960 ​ 11,973 ​ 9,501 ​ 9,480 Due in five years ​ ​ — ​ ​ — ​ ​ 10,454 ​ ​ 10,454 ​ ​ $ 23,652 ​ $ 23,726 ​ $ 36,778 ​ $ 36,785 ​

NOTES PAYABLE FOR LICENSE FEES

NOTES PAYABLE FOR LICENSE FEES	12 Months Ended
	Dec. 31, 2020
NOTES PAYABLE
NOTE PAYABLES FOR LICENSE FEES	NOTE 8. – NOTES PAYABLE License Fees On June 22, 2018, the Company entered into the Second Amendment to the License Agreement (the “Second Amendment”) with North Carolina State University (“NCSU”) that amended an original License Agreement between the Company and NCSU, dated December 8, 2015, and the First Amendment, dated February 14, 2018, to the original License Agreement. Under the terms of the Second Amendment, the Company was obligated to pay NCSU milestone payments totaling $1,200, which originally amounted to a present value of $1,175. As of June 30, 2020 the Company paid the final milestone payment of $300. The cost of the of acquired license amounted to $1,175 and is included in Intangible assets, net on the Company’s Consolidated Balance Sheets, and is amortized on a straight-line basis over the last-to-expire patent, which is expected to be in 2036. On October 22, 2018, the Company entered into a License Agreement with the University of Kentucky. Under the terms of the License Agreement, the Company is obligated to pay the University of Kentucky milestone payments totaling $1,200, of which $300 was payable upon execution, and $300 will be payable annually over three years CARES Act Paycheck Protection Program Loan On May 1, 2020, the Company received an U.S. Small Business Administration Loan (“SBA Loan”) from Bank of America, N.A. related to the COVID-19 crisis in the amount of $1,200. On May 12, 2020, the Company repaid the SBA loan in full. D&O Insurance During the second quarter of 2020, the Company renewed its Director and Officer (“D&O”) insurance for a one-year nine months The table below outlines our notes payable balances as of December 31, 2020 and December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 License Fees ​ $ 293 ​ $ 581 ​ D&O Insurance ​ 246 ​ — ​ Total current notes payable ​ $ 539 ​ $ 581 ​ ​ ​ ​ ​ ​ ​ Long term license fees ​ $ — ​ $ 292 ​ ​ Accretion of non-cash interest expense amounted to $20 , $36, and $11 for the years ended December 31, 2020, 2019 and 2018, respectively.

SEVERANCE LIABILITY

SEVERANCE LIABILITY	12 Months Ended
	Dec. 31, 2020
Postemployment Benefits [Abstract]
SEVERANCE LIABILITY	NOTE 9. – SEVERANCE LIABILITY During the second quarter of 2020, the Company recorded an accrual for severance benefits for $306 in accordance with FASB ASC 712 - “Compensation – Nonretirement Postemployment Benefits.” Consistent with certain contractual obligations related to a resignation, the Company will provide these severance benefits over a twelve-month period. During 2019, the Company recorded an accrual for severance benefits for $881 in accordance with FASB ASC 712 - “Compensation – Nonretirement Postemployment Benefits.” Consistent with certain contractual obligations, $771 of the related accrual will be paid via a monthly consulting fee for a period of forty-two months . The current and long-term accrued severance balance remaining as of December 31, 2020 was $339 and $241 , respectively. The current and long-term accrued severance balance remaining as of December 31, 2019 was $359 and $446 , respectively.

WARRANTS FOR COMMON STOCK

WARRANTS FOR COMMON STOCK	12 Months Ended
	Dec. 31, 2020
WARRANTS FOR COMMON STOCK
WARRANTS FOR COMMON STOCK	NOTE 10. – WARRANTS FOR COMMON STOCK During 2018, the Company’s warrant holders exercised 794,869 outstanding warrants on a cashless basis resulting in the issuance of 490,012 shares of the Company’s common stock and the recording of a $168 reclassification of the remaining warrant liability to capital in excess of par. As of December 31, 2018, the outstanding warrants did not have an associated warrant liability. On November 25, 2019, the Company entered into Warrant Exercise Agreements (the "2019 Exercise Agreements") with all of the holders (the "Holders") of its outstanding warrants to purchase up to 11,293,211 shares of common stock of the Company with an exercise price of $2.15 per share (the "Warrants") whereby the Holders and the Company agreed that the Holders would immediately exercise for cash 7,350,000 of the Warrants at a reduced exercise price of $1.00 per share, generating proceeds to the Company before expenses of approximately $7,400. In addition, the Holders agreed to exercise the remaining 3,943,211 Warrants for cash on or prior to January 27, 2020 provided that the Holders are in compliance with the beneficial ownership limitation provisions contained in the Warrants. The Holders exercised all of the Warrants for cash during December 2019 and the Company received net proceeds of approximately $10,600 from the exercise of all of the Warrants, after deducting expenses associated with the transaction. In consideration for the Holders exercising their Warrants for cash, the Company issued to each Holder a new warrant (each, a "2019 Warrant") to purchase shares of common stock equal to the number of shares of common stock underlying the Warrants that shall be exercisable to the extent such Holder exercises for cash such Holder's Warrants pursuant to the 2019 Exercise Agreements. The terms of the 2019 are (i) exercisable from first issuance of the 2019 Warrants for a period of five years and (ii) had an initial exercise price equal to $1.25 per share. On December 22, 2019, the Company entered in to a Warrant Amendment Agreement with the holders of the 2019 Warrants (the "Amendment") whereby the Company agreed to amend the Warrants to (i) reduce the exercise price of the Warrants to $1.11 and (ii) to add a call provision whereby the Company may call the Warrants with prior notice to the holders for $0.001 per Warrant (during which time the holders may exercise the Warrants) provided that the Company's volume weighted average stock price exceeds $3.00 per share for ten The Company’s outstanding warrants for the year ended December 31, 2020 and December 31, 2019 do not include anti-dilution features and therefore are not considered derivative instruments and do not have an associated warrant liability. The following table summarizes the Company’s warrant activity since December 31, 2018: ​ ​ ​ ​ ​ ​ Number of ​ ​ Warrants Warrants outstanding at December 31, 2018 ​ 11,293,211 Warrants exercised in Q4 2019 (11,293,211) Warrants issued in Q4 2019 ​ 11,293,211 Warrants outstanding at December 31, 2020 11,293,211 ​ See Note 17 “Subsequent Events” for information regarding the cash exercise of the outstanding warrants subsequent to December 31, 2020.

RETIREMENT PLAN

RETIREMENT PLAN	12 Months Ended
	Dec. 31, 2020
RETIREMENT PLAN
RETIREMENT PLAN	NOTE 11. – RETIREMENT PLAN The Company sponsors a defined contribution plan under IRC Section 401(k). The plan covers all employees who meet the minimum eligibility requirements. Under the 401(k) plan eligible employees are allowed to make voluntary deferred salary contribution to the plan, subject to statutory limits. The Company has elected to make Safe Harbor Non-Elective Contributions to the plan for eligible employees in the amount of three percent (3%) of the employee’s compensation. Total employer contributions to the plan for the years ended December 31, 2020, 2019 and 2018 amounted to $150, $157 and $141, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 12. – COMMITMENTS AND CONTINGENCIES License agreements and sponsored research – ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Future Commitments ​ Commitment Counter Party Product Relationship Commitment Type 2021 2022 2023 2024 2025 & After Total Research Agreement ​ KeyGene ​ Hemp / Cannabis ​ Contract fee ​ $ 1,200 ​ $ 1,200 ​ $ 1,200 ​ $ 1,200 ​ $ 300 ​ $ 5,100 (1) License Agreement ​ NCSU ​ Tobacco ​ Annual royalty fee ​ ​ 225 ​ ​ 225 ​ ​ — ​ ​ — ​ ​ — ​ ​ 450 (2), (3) License Agreement ​ NCSU ​ Tobacco ​ Minimum annual royalty ​ ​ 25 ​ ​ 50 ​ ​ 50 ​ ​ 50 ​ ​ 600 ​ ​ 775 (3) License Agreement ​ NCSU ​ Tobacco ​ Minimum annual royalty ​ ​ 50 ​ ​ 50 ​ ​ 50 ​ ​ 50 ​ ​ 500 ​ ​ 700 (3) Research Agreement ​ NCSU ​ Tobacco ​ Contract fee ​ ​ 121 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 121 (4) Sublicense Agreement ​ Anandia Laboratories, Inc. ​ Hemp / Cannabis ​ Annual license fee ​ ​ 10 ​ ​ 10 ​ ​ 10 ​ ​ 10 ​ ​ 110 ​ ​ 150 (5) Growing Agreement ​ Various ​ Various ​ Contract fee ​ ​ 115 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 115 (6) ​ ​ ​ ​ ​ ​ ​ ​ $ 1,746 ​ $ 1,535 ​ $ 1,310 ​ $ 1,310 ​ $ 1,510 ​ $ 7,411 ​ ​ (1) Exclusive agreement with the Company with respect to the Cannabis Sativa L. plant (the "Field"). The initial term of the agreement is five years with an option for an additional two years . The aggregate cost of the agreement over the initial term is $6,000 . The Company will exclusively own all results and all intellectual property relating to the results of the collaboration with KeyGene (the "Results”). The Company will pay royalties in varying amounts to KeyGene relating to the Company's commercialization in the Field of certain Results. The Company has granted KeyGene a license to commercialize the Results outside of the Field and KeyGene will pay royalties in varying amounts to the Company relating to KeyGene's commercialization outside of the Field of the Results. (2) The license agreement also requires a milestone payment of $150 upon FDA approval or clearance of a product that uses the NCSU licensed technology. The annual royalty fee is credited against running royalties on sales of licensed products. (3) The Company is also responsible for reimbursing NSCU for actual third-party patent costs incurred, including capitalized patent costs and patent maintenance costs. These costs vary from year to year and the Company has certain rights to direct the activities that result in these costs. (4) On September 11, 2020, the Company entered into a one-year Sponsored Project Agreement with NCSU for continued research of tobacco alkaloid formation. (5) The Company is also responsible for the payment of certain costs, including, capitalized patent costs and patent maintenance costs, a running royalty on future net sales of products made from the sublicensed intellectual property, and a sharing of future sublicensing consideration received from sublicensing to third parties. (6) Various R&D growing agreements for hemp / cannabis and tobacco. Investment in Panacea - Modified Risk Tobacco Product Application (“MRTP Application”) the approximate amount of $38, $1,679, and $9,775, respectively. The Company will continue to incur consulting and legal expenses as the MRTP Application continues through the FDA review process. The Company cannot currently quantify the additional expenses that the Company will incur in the FDA review process because it will involve various factors that are within the discretion and control of the FDA. Litigation Crede Settlement On June 19, 2019, the Company, Crede CG III, LTD. (“Crede”) and Terren Peizer (“Peizer”) participated in a settlement conference meeting as required by the United States District Court for the Southern District of New York (the “SDNY Court”) entitled Crede CG III, LTD. v. 22nd Century Group, Inc five The Company accrued an expense related to the settlement of this case during the second quarter of 2019 in the amount of $1,891, which is equal to the fair value of the 990,000 shares of Company common stock on July 22, 2019. The accrual was reclassified to capital upon the issuance of the common stock during the third quarter of 2019. ​ Class Action On January 21, 2019, Matthew Jackson Bull, a resident of Denver, Colorado, filed a Complaint against the Company, the Company’s then Chief Executive Officer, Henry Sicignano III, and the Company’s then Chief Financial Officer, John T. Brodfuehrer, in the United States District Court for the Eastern District of New York entitled: Matthew Bull, Individually and on behalf of all others similarly situated, v. 22nd Century Group, Inc., Henry Sicignano III, and John T. Brodfuehrer Case No. 1:19-cv-00409 On January 29, 2019, Ian M. Fitch, a resident of Essex County Massachusetts, filed a Complaint against the Company, the Company’s then Chief Executive Officer, Henry Sicignano III, and the Company’s then Chief Financial Officer, John T. Brodfuehrer, in the United States District Court for the Eastern District of New York entitled: Ian Fitch, Individually and on behalf of all others similarly situated, v. 22nd Century Group, Inc., Henry Sicignano III, and John T. Brodfuehrer Case No. 2:19-cv-00553 On May 28, 2019, the plaintiff in the Fitch Bull On September 16, 2019, pursuant to a joint motion by the parties, the Court in the Bull Plaintiffs in the Bull On January 29, 2020, the Company and Messrs. Sicignano and Brodfuehrer filed a Motion to Dismiss the Amended Complaint. On July 31, 2020, the Court heard oral arguments on the motion to dismiss. On January 14, 2021, the Court granted motion, dismissing all claims with prejudice. The Plaintiffs filed a notice of appeal on February 12, 2021 to the Second Circuit Court of Appeals. The Second Circuit has granted an expedited briefing schedule and Plaintiff’s/Appellant’s must be filed no later than April 12, 2021. We believe that the claims are frivolous, meritless and that the Company and Messrs. Sicignano and Brodfuehrer have substantial legal and factual defenses to the claims. We intend to vigorously defend the Company and Messrs. Sicignano and Brodfuehrer against such claims. Shareholder Derivative Cases On February 6, 2019, Melvyn Klein, a resident of Nassau County New York, filed a shareholder derivative claim against the Company, the Company’s then Chief Executive Officer, Henry Sicignano III, the Company’s Chief Financial Officer, John T. Brodfuehrer, and each member of the Company’s Board of Directors in the United States District Court for the Eastern District of New York entitled: Melvyn Klein, derivatively on behalf of 22nd Century Group v. Henry Sicignano, III, Richard M. Sanders, Joseph Alexander Dunn, Nora B. Sullivan, James W. Cornell, John T. Brodfuehrer and 22nd Century Group, Inc Case No. 1:19-cv-00748 On February 11, 2019, Stephen Mathew filed a shareholder derivative claim against the Company, the Company’s then Chief Executive Officer, Henry Sicignano III, the Company’s Chief Financial Officer, John T. Brodfuehrer, and each member of the Company’s Board of Directors in the Supreme Court of the State of New York, County of Erie, entitled: Stephen Mathew, derivatively on behalf of 22nd Century Group, Inc. v. Henry Sicignano, III, John T. Brodfuehrer, Richard M. Sanders, Joseph Alexander Dunn, James W. Cornell, Nora B. Sullivan and 22nd Century Group, Inc., Index No. 801786/2019 Mathew Klein On June 10, 2019, Judy Rowley filed a shareholder derivative claim against the Company, the Company’s then Chief Executive Officer, Henry Sicignano III, the Company’s Chief Financial Officer, John T. Brodfuehrer, and each member of the Company’s Board of Directors in the Supreme Court of the State of New York, County of Erie, entitled: Judy Rowley, derivatively on behalf of 22nd Century Group, Inc. v. Henry Sicignano, III, Richard M. Sanders, Joseph Alexander Dunn, Nora B. Sullivan, James W. Cornell, John T. Brodfuehrer, and 22nd Century Group, Inc. Index No. 807214/2019 On January 15, 2020, Kevin Broccuto filed a shareholder derivative claim against the Company, the Company's then Chief Executive Officer, Henry Sicignano III, the Company's Chief Financial Officer, John T. Brodfuehrer, and certain members of the Company's prior Board of Directors in the District Court of the State of Nevada, County of Clark, entitled: Kevin Broccuto, derivatively on behalf of 22nd Century Group, Inc. v. James W. Cornell, Richard M. Sanders, Nora B. Sullivan, Henry Sicignano, III, and John T. Brodfuehrer, Case No. A-20-808599. On February 11, 2020, Jerry Wayne filed a shareholder derivative claim against the Company, the Company's then Chief Executive Officer, Henry Sicignano III, the Company's Chief Financial Officer, John T. Brodfuehrer, and certain members of the Company's prior Board of Directors in the District Court of the State of Nevada, County of Clark, entitled: Jerry Wayne, derivatively on behalf of 22nd Century Group, Inc. v. James W. Cornell, Richard M. Sanders, Nora B. Sullivan, Henry Sicignano, III, and John T. Brodfuehrer, Case No. A-20-808599. Mr. Wayne brings this action derivatively alleging generally the same allegations as the Brocutto case. The Complaint seeks unspecified monetary damages, corrective corporate governance actions, disgorgement of alleged profits and imposition of constructive trusts, and attorney's fees and costs. The Complaint also seeks to declare as unenforceable the Company's Bylaw requiring derivative lawsuits to be filed in Erie County, New York, where the Company is headquartered. On March 25, 2020, the Court ordered the Brocutto Wayne

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2020
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 13. – EARNINGS PER COMMON SHARE The following table sets forth the computation of basic and diluted earnings (loss) per common share for the years ended December 31, 2020, 2019 and 2018, respectively. Outstanding warrants, options, and restricted stock units were excluded from the calculation of diluted EPS as the effect was antidilutive. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ 2020 2019 ​ 2018 ​ ​ (in thousands, except for per-share data) Net loss ​ $ (19,711) ​ $ (26,558) ​ $ (7,967) Weighted average common shares outstanding - basic and diluted ​ ​ 138,813 ​ ​ 125,883 ​ ​ 124,299 Net loss per common share - basic and diluted ​ $ (0.14) ​ $ (0.21) ​ $ (0.06) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Anti-dilutive shares are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ ​ 11,293 ​ ​ 11,293 ​ ​ 11,293 Options ​ ​ 6,581 ​ ​ 7,837 ​ ​ 8,672 Restricted stock units ​ ​ 2,938 ​ ​ 951 ​ ​ — ​ ​ ​ 20,812 ​ ​ 20,081 ​ ​ 19,965 ​

EQUITY- BASED COMPENSATION

EQUITY- BASED COMPENSATION	12 Months Ended
	Dec. 31, 2020
EQUITY- BASED COMPENSATION
EQUITY- BASED COMPENSATION	NOTE 14. – EQUITY BASED COMPENSATION On April 12, 2014, the stockholders of the Company approved the 22nd Century Group, Inc. 2014 Omnibus Incentive Plan (the “OIP”) and the authorization of 5,000,000 shares to be reserved for issuance thereunder. On April 29, 2017, the stockholders approved an amendment to the OIP to increase the number of shares available for issuance by an additional 5,000,000 shares and on May 3, 2019, the stockholders approved an additional amendment to the OIP to increase the number of shares available for issuance by an additional 5,000,000 shares. The OIP allows for the granting of equity and cash incentive awards to eligible individuals over the life of the OIP, including the issuance of up to an aggregate of 15,000,000 shares of the Company’s common stock pursuant to awards under the OIP. The OIP has a term of ten years and is administered by the Compensation Committee of the Company’s Board of Directors to determine the various types of incentive awards that may be granted to recipients under the OIP and the number of shares of common stock to underlie each such award under the OIP. As of December 31, 2020, the Company had available 3,987,167 shares remaining for future awards under the OIP. Restricted Stock Units (“RSU”) ​ ​ ​ ​ ​ ​ ​ ​ ​ Unvested RSUs ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant-date ​ Shares Fair Value ​ ​ in thousands ​ $ per share Unvested at December 31, 2018 ​ — ​ $ — Granted ​ 1,301 ​ $ 2.21 Vested ​ (100) ​ $ 2.02 Forfeited ​ (250) ​ $ 2.02 Unvested at December 31, 2019 951 ​ $ 2.15 Granted 2,885 ​ $ 0.71 Vested ​ (325) ​ $ 1.07 Forfeited ​ (573) ​ $ 1.90 Unvested at December 31, 2020 ​ 2,938 ​ $ 0.85 ​ The fair value of RSUs that vested during the years ended December 31, 2020 and 2019 was approximately $601 and $202, respectively, based on the stock price at the time of vesting. Stock Options. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ ​ Aggregate ​ ​ Number of ​ Exercise ​ Contractual ​ ​ Intrinsic ​ Options Price Term Value ​ ​ in thousands ​ $ per share ​ ​ ​ ​ ​ ​ Outstanding at December 31, 2017 8,157 ​ $ 1.28 ​ Granted 1,632 ​ $ 2.64 ​ Exercised (613) ​ $ 0.87 ​ Expired / cancelled (504) ​ $ 1.71 ​ Outstanding at December 31, 2018 8,672 ​ $ 1.54 ​ Granted 600 ​ $ 2.07 ​ Exercised ​ (75) ​ $ 0.93 ​ ​ ​ ​ ​ ​ Forfeited ​ (1,360) ​ $ 2.09 ​ ​ ​ ​ ​ ​ Outstanding at December 31, 2019 ​ 7,837 ​ $ 1.49 ​ ​ ​ ​ ​ ​ Exercised ​ (399) ​ $ 1.04 ​ ​ ​ ​ ​ ​ Forfeited ​ (169) ​ $ 1.83 ​ ​ ​ ​ ​ ​ Expired ​ (688) ​ $ 1.51 ​ ​ ​ ​ ​ ​ Outstanding December 31, 2020 6,581 ​ $ 1.50 3.9 years $ 3,983 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at December 31, 2020 5,737 ​ $ 1.51 3.7 years $ 4,325 ​ The intrinsic value of a stock option is the amount by which the current market value or the market value upon exercise of the underlying stock exceeds the exercise price of the option. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. No option awards were granted in 2020. The following assumptions were used for the years ended December 31, 2019 and 2018: ​ ​ ​ ​ ​ ​ ​ ​ 2019 2018 Risk-free interest rate (weighted average) 1.54 % 2.77 % Expected dividend yield — % — % Expected stock price volatility 70 % 90 % Expected life of options (weighted average) 5.15 years 5.61 years ​ The Company estimated the expected volatility of the Company’s stock to be 70%. The expected term was estimated using the contract life of the option. The risk-free interest rate assumption was determined using yield of the equivalent U.S. Treasury bonds over the expected term. The Company has never paid any cash dividends and does not anticipate paying any cash dividends in the foreseeable future. Therefore, the Company assumed an expected dividend yield of zero. Restricted Stock and Stock Option Compensation Expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ 2020 2019 2018 Sales, general, and administrative ​ $ 1,526 ​ $ 3,166 ​ $ 1,341 Research and Development ​ 128 ​ 374 ​ 1,846 Total restricted stock and stock option compensation ​ $ 1,654 ​ $ 3,540 ​ $ 3,187 ​ As of December 31, 2020, unrecognized compensation expense amounted to $1,528 which is expected to be recognized over a weighted average period of approximately 0.9 years. In addition, there is approximately $637 of unrecognized stock option compensation expense that requires the achievement of certain milestones which have yet to be obtained.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
INCOME TAXES
INCOME TAXES	NOTE 15. – INCOME TAXES The following is a summary of the components giving rise to the income tax provision (benefit) ended years ended December 31, 2020, 2019 and 2018: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Current: ​ ​ ​ Federal ​ $ — ​ $ — ​ $ — State ​ — ​ — ​ — Total current ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred: ​ ​ ​ Federal ​ ​ (3,932) ​ (5,607) ​ (1,446) State ​ (200) ​ 55 ​ (14) Total deferred ​ (4,132) ​ (5,552) ​ (1,460) Change in valuation allowance ​ 4,170 ​ 5,552 ​ 1,460 Total income taxes ​ $ 38 ​ $ — ​ $ — ​ The provision (benefit) for income tax varies from that which would be expected based on applying the statutory federal rate to pre-tax accounting loss, including the effect of the change in the U.S. corporate income tax rates, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Statutory federal rate (21.0) % (21.0) % (21.0) % Other items (0.3) (0.1) 0.1 ​ Litigation Settlement — 1.5 ​ Derivative liability — — (0.1) ​ Stock based compensation 0.7 1.8 2.5 ​ Research and development credit carryforward 0.2 (3.3) (1.2) ​ State tax provision, net of federal benefit (0.8) 0.2 (0.1) ​ Equity investment — — 1.5 ​ Federal tax rate change — — — ​ Valuation allowance 21.4 20.9 18.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective tax rate (benefit) provision 0.2 % — % — % ​ Individual components of deferred taxes consist of the following as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Deferred tax assets: ​ ​ ​ Net operating loss carry-forward ​ $ 18,498 ​ $ 14,996 ​ $ 11,527 Inventory ​ 115 ​ 52 ​ 21 Stock-based compensation ​ 1,099 ​ 1,049 ​ 813 Start-up expenditures ​ 199 ​ 221 ​ 243 Research and development credit carryforward ​ 1,171 ​ 1,209 ​ 326 Loss on equity investment ​ — ​ — ​ — Accrued bonus ​ 423 ​ 200 ​ 101 Severance liability ​ 122 ​ 134 ​ — Investment in Panacea ​ 360 ​ 40 ​ — Operating lease obligations ​ 52 ​ 127 ​ — Other ​ 29 ​ 22 ​ 20 ​ ​ $ 22,068 ​ $ 18,050 ​ $ 13,051 Deferred tax liabilities: ​ ​ ​ Machinery and equipment ​ (237) ​ (239) ​ (215) Patents and trademarks ​ (358) ​ (351) ​ (562) Gain on investment ​ (13) ​ (104) ​ (612) Accrued expense ​ (24) ​ (51) ​ (71) Operating lease right-of-use assets ​ (52) ​ (126) ​ — Other intangible assets ​ (224) ​ (189) ​ (153) ​ ​ (908) ​ (1,060) ​ (1,613) Valuation allowance ​ (21,198) ​ (16,990) ​ (11,438) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred taxes ​ $ (38) ​ $ — ​ $ — ​ The Company generated net operating losses (“NOL”) of approximately $15,500, $16,800, and $7,700 for the years ended December 31, 2020, 2019 and 2018 respectively, and these NOL carryforward losses do not expire. The Company had accumulated an NOL carryforward of approximately $46,900 through December 31, 2017 and this NOL carryforward begins to expire in 2031. As of December 31, 2020, the Company has a research and development credit carryforward of approximately $1,171 that begins to expire in 2031. Utilization of these NOL carryforwards may be subject to an annual limitation in the case of equity ownership changes, as defined by law. Due to the uncertainty of the Company’s ability to generate sufficient taxable income in the future, the Company has recorded a valuation allowance to reduce the net deferred tax asset to zero. These carryforwards are included in the net deferred tax asset that has been fully offset by the valuation allowance. ASC 740 provides guidance on the financial statement recognition and measurement for uncertain income tax positions that are taken or expected to be taken in a company’s income tax return. The Company has evaluated its tax positions and believes there are no uncertain tax positions as of December 31, 2020.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 16. – REVENUE RECOGNITION The Company recognizes revenue when it satisfies a performance obligation by transferring control of the product to a customer. The Company’s customer contracts consist of obligations to manufacture the customer’s branded filtered cigars and cigarettes. For certain contracts, the performance obligation is satisfied over time as the Company determines, due to contract restrictions, it does not have an alternative use of the product, and it has an enforceable right to payment as the product is manufactured. The Company recognizes revenue under those contracts at the unit price stated in the contract based on the units manufactured. Revenue from the sale of the Company’s products is recognized net of cash discounts, sales returns and allowances. There was no allowance for discounts or returns and allowances at December 31, 2020 and December 31, 2019. Contract Assets and Liabilities Unbilled receivables (contract assets) represent revenues recognized for performance obligations that have been satisfied but have not been billed. These receivables are included as Accounts receivable, net on the Consolidated Balance Sheets. Customer payment terms vary depending on the terms of each customer contract, but payment is generally due prior to product shipment or within extended credit terms up to twenty-one Total contract assets and contract liabilities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Unbilled receivables $ 349 $ 406 Deferred Revenue ​ ​ (272) ​ ​ (5) Net contract assets ​ $ 77 ​ $ 401 ​ Disaggregation of Revenue The Company’s net sales revenue is derived from customers located primarily in the United States of America and is disaggregated by the timing of revenue recognition—net sales transferred over time and net sales transferred at a point in time. All revenue is related to contract manufacturing. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ 2020 2019 2018 Net sales-over time ​ $ 16,326 ​ $ 16,466 ​ $ 16,785 Net sales-point in time ​ 11,785 ​ 9,367 ​ 9,641 Total Revenue ​ $ 28,111 ​ $ 25,833 ​ $ 26,426 ​ The Company had certain customers whose revenue individually represented 10% or more the Company’s total revenue. For the year ended December 31, 2020, two customers accounted for approximately 91% of total revenue. For the years ended December 31, 2019, and 2018, three customers accounted for approximately for 92.7% and 92.0% of total revenue, respectively.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Dec. 31, 2020
SUBSEQUENT EVENTS
SUBSEQUENT EVENT	NOTE 17. – SUBSEQUENT EVENT Corporate Office Relocation On January 15, 2021, the Company signed a lease agreement to relocate its corporate headquarters to the Larkinville District in downtown Buffalo, NY. Details on the lease are described below ($ in thousands): ​ ​ ​ ​ ​ ​ ​ Key Lease Terms ​ ​ $ in thousands Commencement Date ​ February 15, 2021 ​ Monthly Base Rent (Year 1) $ 6 ​ Base Rent Annual Increase (Year 2 - onward) ​ 2.5 % Initial Term (months) ​ 36 ​ ​ In addition, the lease includes two optional, twenty-four-month extensions at the Company’s discretion. During the first quarter of 2021, the Company will recognize the respective ROU asset and lease liability for the above operating lease. Warrant Exercises During February and March of 2021, the Company’s warrant holders exercised 9,577,612 warrants for cash in exchange for common stock. In connection with these exercises, the Company received net proceeds of $9,993. On March 10, 2021, the Company’s warrant holders exercised for cash the remaining 1,715,599 outstanding warrants and no outstanding warrants remain.

SELECTED QUARTERLY FINANCIAL DA

SELECTED QUARTERLY FINANCIAL DATA (unaudited)	12 Months Ended
	Dec. 31, 2020
SELECTED QUARTERLY FINANCIAL DATA (unaudited)
SELECTED QUARTERLY FINANCIAL DATA (unaudited)	NOTE 18. – SELECTED QUARTERLY FINANCIAL DATA (unaudited) Below is selected quarterly financial data for the years ended December 31, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ June 30, ​ September 30, ​ December 31, ​ 2020 2020 2020 2020 Revenue, net ​ $ 7,058 ​ $ 6,435 ​ $ 7,310 ​ $ 7,308 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross (loss) profit ​ $ 287 ​ $ 201 ​ $ 362 ​ $ 588 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss from operations ​ $ (4,142) ​ $ (4,753) ​ $ (4,040) ​ $ (6,248) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (4,028) ​ $ (5,057) ​ $ (4,221) ​ $ (6,405) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss per common share – basic and diluted ​ $ (0.03) ​ $ (0.04) ​ $ (0.03) ​ $ (0.04) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, June 30, September 30, December 31, ​ 2019 2019 2019 2019 Revenue, net ​ $ 6,294 ​ $ 5,815 ​ $ 6,462 ​ $ 7,262 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ​ $ (103) ​ $ (86) ​ $ (21) ​ $ 225 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss from operations ​ $ (5,379) ​ $ (5,029) ​ $ (7,606) ​ $ (5,552) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ (2,073) ​ $ (8,042) ​ $ (10,245) ​ $ (6,198) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss per common share – basic and diluted ​ $ (0.02) ​ $ (0.06) ​ $ (0.08) ​ $ (0.05) ​

NATURE OF BUSINESS AND SUMMAR_2

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	Principles of Consolidation
Nature of Business	Nature of Business
Reclassifications	Reclassifications –
Preferred stock authorized	Preferred stock authorized
Concentration of Credit Risk	Concentration of Credit Risk
Cash and cash equivalents	Cash and cash equivalents –
Short-term investment securities	Short-term investment securities twenty-four the other income (expense) portion of the Company’s Consolidated Statements of Operations and Comprehensive Loss. Interest income is recorded on the accrual basis and presented net of investment related fees.
Accounts receivable	Accounts receivable
Inventory	Inventory
Machinery and equipment	Machinery and equipment – 3 10 years
Intangible Assets	Intangible Assets The Company’s capitalized intellectual property costs are amortized using the straight-line method over the remaining statutory life of the granted patent assets in each of the Company’s patent families, which have estimated expiration dates ranging from 2026 to 2041. Periodic maintenance or renewal fees are expensed as incurred. Annual minimum license fees are charged to expense. License fees paid for third-party intellectual property are amortized on a straight-line basis over the last to expire patents, which patent expiration dates are expected to range from 2019 through 2036. The Company believes costs associated with becoming a signatory to the MSA and acquiring a predicate cigarette brand have an indefinite life and as such, no amortization is taken. At each reporting period, the Company evaluates whether events and circumstances continue to support the indefinite-lived classification.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Property, plant, and equipment Intangibles, Goodwill, and Other Intangible assets subject to amortization are reviewed for strategic importance and commercialization opportunity prior to expiration. If it is determined that the asset no longer supports the Company’s strategic objectives and/or will not be commercially viable prior to expiration, the asset is impaired. In addition, the Company will assess the expected future undiscounted cash flows for its intellectual property based on consideration of future market and economic conditions, competition, federal and state regulations, and licensing opportunities. If the carrying value of such assets are not recoverable, the carrying value will be reduced to fair value. Indefinite-lived intangible asset carrying values are reviewed at least annually or more frequently if events or changes in circumstances indicate that it is more likely than not that an impairment exists. The Company first performs a qualitative assessment and considers its current strategic objectives, future market and economic conditions, competition, and federal and state regulations to determine if an impairment is more likely than not. If it is determined that an impairment is more likely than not, a quantitative assessment is performed to compare the asset carrying value to fair value.
Right-of-use assets and Lease Obligations	Right-of-use assets (ROU) and Lease Obligations leases and record a Right-of-use (“ROU”) asset and a corresponding lease obligation for leases that qualified as either finance or operating leases. The Company elected to use the practical expedient which allowed the Company to carry forward the historical lease classifications of the existing leases. The Company determined that its leases contained (1) no variable lease expenses, (2) no termination options, (3) no residual lease guarantees, and (4) no material restrictions or covenants. All remaining renewal options were included in the computation of the ROU assets and lease obligations upon adoption. The Company reviews any lease arrangements in accordance with ASU 2016-02, Subtopic ASC 842, Leases. Any lease having a lease term greater than twelve months will be recognized on the Consolidated Balance Sheets as a ROU asset with an associated lease obligation—all other leases are considered short-term in nature and will be expensed on a month-to-month basis. The ROU assets and lease obligations are recognized as of the commencement date at the net present value of the fixed minimum lease payments for the lease term. The discount rate used is the interest rate implicit in the lease, if available, or the Company’s incremental borrowing rate which is determined using a base line rate plus an applicable spread. All financial results and disclosures for periods beginning after January 1, 2019 are presented in accordance with Subtopic ASC 842. 2018 results have not been adjusted continue to be reported under ASC 840. Refer to Note 4 for additional information regarding our ROU assets and liabilities.
Income Taxes	Income Taxes As a result of the Company’s history of cumulative net operating losses and the uncertainty of their future utilization, the Company has established a valuation allowance to fully offset its net deferred tax assets as of December 31, 2020 and December 31, 2019. Additionally, the Company has elected to present other comprehensive income items relating to net unrealized gains on short-term investment securities gross and not net of taxes. The Company’s federal and state tax returns for the years ended December 31, 2017 through December 31, 2019 are currently open to audit under the statutes of limitations. There are no pending audits as of December 31, 2020.
Stock Based Compensation	Stock Based Compensation
Revenue Recognition	Revenue Recognition
Derivatives	Derivatives
Research and Development	Research and Development
Loss Per Common Share	Loss Per Common Share
Use of Estimates	Use of Estimates
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Investments	Investments The Company accounts for investments in equity securities of other entities under the equity method of accounting if the Company’s investment in the stock of the other entity provides the Company with the ability to have significant influence over the operating and financial policies of the investee. If the Company does not have significant influence over the operating or financial policies of the entity, and such equity investment does not have a readily determinable market value, then the Company accounts for such equity investments in accordance with FASB ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assts and Financial Liabilities, which the Company adopted in the first quarter of 2018 with respect to the Company’s investments. Under ASU 2016-01 equity securities are recorded at fair value, with changes in fair value recorded through the statement of operations. Equity securities without a readily determinable market value are carried at cost less impairment, adjusted for observable price changes in orderly transactions for an identical or similar investment of the same issuer. The Company considers debt instruments as available-for-sale securities, and accordingly, all unrealized gains and losses incurred on the short-term investment securities (the adjustment to fair value) are recorded in other comprehensive income or loss on the Company’s Consolidated Statements of Operations and Comprehensive Loss. Refer to Note 6 for additional disclosures relating to the Company’s investments.
Loss Contingencies	Loss Contingencies
Accounting Pronouncements	Recent Accounting Pronouncement(s) – In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” The standard replaces the incurred loss model with the current expected credit loss (CECL) model to estimate credit losses for financial assets measured at amortized cost and certain off-balance sheet credit exposures. The CECL model requires companies to estimate credit losses expected over the life of the financial assets based on historical experience, current conditions and reasonable and supportable forecasts. The provisions of the ASU are effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years—excluding small reporting companies (SRCs) which have an effective date beginning after December 15, 2022 and interim periods within those fiscal years. The Company plans to adopt ASU 2016-13 on January 1, 2023 and is evaluating the expected impacts. We consider the applicability and impact of all ASUs. If the ASU is not listed above, it was determined that the ASU was either not appliable or would have an immaterial impact on our financial statements and related disclosures.

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2020
INVENTORY
Schedule of Inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2020 2019 Inventory - tobacco leaf ​ $ 821 ​ $ 1,178 Inventory - finished goods ​ ​ ​ ​ ​ Cigarettes and filtered cigars ​ 171 ​ 106 Inventory - raw materials ​ ​ ​ ​ Cigarette and filtered cigar components ​ ​ 1,142 ​ ​ 1,082 ​ ​ ​ ​ ​ ​ ​ Less: inventory reserve ​ (100) ​ (100) ​ ​ $ 2,034 ​ $ 2,266

MACHINERY AND EQUIPMENT (Tables

MACHINERY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2020
MACHINERY AND EQUIPMENT
Schedule of Machinery and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ Useful Life 2020 2019 Cigarette manufacturing equipment ​ 3 10 years ​ $ 4,893 ​ $ 4,870 Office furniture, fixtures and equipment ​ 5 Years ​ 20 ​ 152 Laboratory equipment ​ 5 Years ​ 117 ​ 125 Leasehold improvements ​ 6 Years ​ 123 ​ 257 ​ ​ ​ ​ ​ ​ ​ Less: accumulated depreciation ​ ​ (2,670) ​ (2,284) Machinery and equipment, net ​ ​ $ 2,483 ​ $ 3,120

RIGHT-OF-USE ASSETS, LEASE OB_2

RIGHT-OF-USE ASSETS, LEASE OBLIGATIONS AND OTHER LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
RIGHT-OF-USE ASSETS, LEASE OBLIGATIONS, AND OTHER LEASES
Summary of discount rate and lease term	​ ​ ​ ​ ​ ​ Weighted average remaining lease term in years ​ ​ 1.1 ​ Weighted average discount rate ​ 4.5 %
Schedule of future minimum lease payments	​ ​ ​ ​ ​ 2021 ​ $ 245 2022 ​ 9 Total lease payments ​ 254 Less: imputed interest ​ (6) Total ​ $ 248

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
INTANGIBLE ASSETS
Schedule of Intangible Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Intangible assets, net ​ ​ Patent and trademark costs ​ $ 5,667 ​ $ 5,712 Less: accumulated amortization ​ (2,936) ​ (2,839) Patent and trademark costs, net ​ 2,731 ​ 2,873 ​ ​ ​ ​ ​ ​ ​ License fees ​ 3,876 ​ 3,777 Less: accumulated amortization ​ (948) ​ (709) License fees, net ​ 2,928 ​ 3,069 ​ ​ ​ ​ ​ ​ ​ MSA signatory costs ​ 2,202 ​ 2,202 ​ ​ ​ ​ ​ ​ License fee for predicate cigarette brand ​ 350 ​ 350 ​ ​ $ 8,211 ​ $ 8,494

INVESTMENTS AND CONVERTIBLE N_2

INVESTMENTS AND CONVERTIBLE NOTE RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2020
Marketable Securities [Line Items]
Schedule of carrying value of investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2020 ​ 2019 Aurora stock warrants $ 239 $ 673 Panacea preferred stock ​ ​ 5,173 ​ ​ 4,865 Panacea stock warrant ​ ​ 1,124 ​ ​ 2,865 Total Investments ​ $ 6,536 ​ $ 8,403 Convertible Note Receivable ​ $ 5,876 ​ $ 5,589
Investment in Panacea
Marketable Securities [Line Items]
Schedule of carrying value of investments	​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 Panacea preferred stock $ 5,173 Panacea stock warrant ​ ​ 1,124 Accrued interest on convertible note receivable (included within prepaid expenses and other assets) ​ ​ 170 Convertible note receivable ​ ​ 5,876 Total ​ $ 12,343

FAIR VALUE MEASUREMENTS AND S_2

FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS
Schedule of assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ December 31, 2020 ​ Level 1 Level 2 Level 3 Total Assets ​ ​ ​ ​ Short-term investment securities: ​ ​ ​ ​ Money market funds ​ $ 8,636 ​ $ — ​ $ — ​ $ 8,636 Corporate bonds ​ — ​ 12,677 ​ — ​ 12,677 Total short-term investment securities ​ $ 8,636 ​ $ 12,677 ​ $ — ​ $ 21,313 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment - Aurora stock warrants ​ $ — ​ $ — ​ $ 239 ​ $ 239 Investment - Panacea preferred stock ​ $ — ​ $ — ​ $ 5,173 ​ $ 5,173 Convertible note receivable ​ $ — ​ $ — ​ $ 5,876 ​ $ 5,876 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ December 31, 2019 ​ Level 1 Level 2 Level 3 Total Assets ​ ​ ​ ​ Short-term investment securities: ​ ​ ​ ​ Money market funds ​ $ 12,146 ​ $ — ​ $ — ​ $ 12,146 Corporate bonds ​ — ​ 26,331 ​ — ​ 26,331 Total short-term investment securities ​ $ 12,146 ​ $ 26,331 ​ $ — ​ $ 38,477 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment - Aurora stock warrants ​ $ — ​ $ — ​ $ 673 ​ $ 673 Investment - Panacea preferred stock ​ $ — ​ $ — ​ $ 4,865 ​ $ 4,865 Convertible note receivable ​ $ — ​ $ — ​ $ 5,589 ​ $ 5,589
Schedule of the changes in fair value of Level 3 investments	​ ​ ​ ​ ​ Fair Value at December 31, 2018 $ 3,092 Unrealized gain as a result of change in fair value ​ (2,419) Accretion of interest income on convertible note receivable ​ ​ 22 Panacea convertible note receivable ​ ​ 5,567 Preferred stock in Panacea ​ ​ 4,865 Fair Value at December 31, 2019 ​ $ 11,127 Unrealized loss as a result of change in fair value ​ ​ (434) Accretion of interest on Panacea investment ​ ​ 595 Fair Value at December 31, 2020 ​ $ 11,288
Schedule of available-for-sale securities reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale Debt Securities ​ ​ December 31, 2020 ​ ​ Amortized ​ Gross ​ Gross ​ ​ ​ ​ ​ Cost ​ Unrealized ​ Unrealized ​ Fair ​ Basis Gains Losses Value Corporate bonds ​ $ 12,603 ​ $ 74 ​ $ — ​ $ 12,677 Convertible note receivable ​ 5,876 ​ — ​ — ​ 5,876 Investment - Panacea preferred stock ​ 5,173 ​ — ​ — ​ 5,173 ​ ​ $ 23,652 ​ $ 74 ​ $ — ​ $ 23,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale Debt Securities ​ ​ December 31, 2019 ​ ​ Amortized ​ Gross ​ Gross ​ ​ ​ ​ ​ Cost ​ Unrealized ​ Unrealized ​ Fair ​ Basis Gains Losses Value Corporate bonds ​ $ 26,324 ​ $ 64 ​ $ (57) ​ $ 26,331 Convertible note receivable ​ 5,589 ​ — ​ — ​ 5,589 Investment - Panacea preferred stock ​ 4,865 ​ — ​ — ​ 4,865 ​ ​ $ 36,778 ​ $ 64 ​ $ (57) ​ $ 36,785 ​
Schedule of available for sale securities classified by contractual maturity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available for Sale Debt Securities ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ Amortized ​ ​ ​ ​ Amortized ​ ​ ​ ​ Cost Basis Fair Value Cost Basis Fair Value Due in one year or less ​ $ 11,692 ​ $ 11,753 ​ $ 16,823 ​ $ 16,851 Due after one year through five years ​ 11,960 ​ 11,973 ​ 9,501 ​ 9,480 Due in five years ​ ​ — ​ ​ — ​ ​ 10,454 ​ ​ 10,454 ​ ​ $ 23,652 ​ $ 23,726 ​ $ 36,778 ​ $ 36,785

NOTES PAYABLE FOR LICENSE FEES

NOTES PAYABLE FOR LICENSE FEES (Tables)	12 Months Ended
	Dec. 31, 2020
NOTES PAYABLE
Schedule of notes payable balances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 License Fees ​ $ 293 ​ $ 581 ​ D&O Insurance ​ 246 ​ — ​ Total current notes payable ​ $ 539 ​ $ 581 ​ ​ ​ ​ ​ ​ ​ Long term license fees ​ $ — ​ $ 292 ​

WARRANTS FOR COMMON STOCK (Tabl

WARRANTS FOR COMMON STOCK (Tables)	12 Months Ended
	Dec. 31, 2020
WARRANTS FOR COMMON STOCK
Schedule of warrant activity	​ ​ ​ ​ ​ ​ Number of ​ ​ Warrants Warrants outstanding at December 31, 2018 ​ 11,293,211 Warrants exercised in Q4 2019 (11,293,211) Warrants issued in Q4 2019 ​ 11,293,211 Warrants outstanding at December 31, 2020 11,293,211

COMMITMENTS & CONTINGENCIES (Ta

COMMITMENTS & CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Future Commitments ​ Commitment Counter Party Product Relationship Commitment Type 2021 2022 2023 2024 2025 & After Total Research Agreement ​ KeyGene ​ Hemp / Cannabis ​ Contract fee ​ $ 1,200 ​ $ 1,200 ​ $ 1,200 ​ $ 1,200 ​ $ 300 ​ $ 5,100 (1) License Agreement ​ NCSU ​ Tobacco ​ Annual royalty fee ​ ​ 225 ​ ​ 225 ​ ​ — ​ ​ — ​ ​ — ​ ​ 450 (2), (3) License Agreement ​ NCSU ​ Tobacco ​ Minimum annual royalty ​ ​ 25 ​ ​ 50 ​ ​ 50 ​ ​ 50 ​ ​ 600 ​ ​ 775 (3) License Agreement ​ NCSU ​ Tobacco ​ Minimum annual royalty ​ ​ 50 ​ ​ 50 ​ ​ 50 ​ ​ 50 ​ ​ 500 ​ ​ 700 (3) Research Agreement ​ NCSU ​ Tobacco ​ Contract fee ​ ​ 121 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 121 (4) Sublicense Agreement ​ Anandia Laboratories, Inc. ​ Hemp / Cannabis ​ Annual license fee ​ ​ 10 ​ ​ 10 ​ ​ 10 ​ ​ 10 ​ ​ 110 ​ ​ 150 (5) Growing Agreement ​ Various ​ Various ​ Contract fee ​ ​ 115 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 115 (6) ​ ​ ​ ​ ​ ​ ​ ​ $ 1,746 ​ $ 1,535 ​ $ 1,310 ​ $ 1,310 ​ $ 1,510 ​ $ 7,411 ​ ​ (1) Exclusive agreement with the Company with respect to the Cannabis Sativa L. plant (the "Field"). The initial term of the agreement is five years with an option for an additional two years . The aggregate cost of the agreement over the initial term is $6,000 . The Company will exclusively own all results and all intellectual property relating to the results of the collaboration with KeyGene (the "Results”). The Company will pay royalties in varying amounts to KeyGene relating to the Company's commercialization in the Field of certain Results. The Company has granted KeyGene a license to commercialize the Results outside of the Field and KeyGene will pay royalties in varying amounts to the Company relating to KeyGene's commercialization outside of the Field of the Results. (2) The license agreement also requires a milestone payment of $150 upon FDA approval or clearance of a product that uses the NCSU licensed technology. The annual royalty fee is credited against running royalties on sales of licensed products. (3) The Company is also responsible for reimbursing NSCU for actual third-party patent costs incurred, including capitalized patent costs and patent maintenance costs. These costs vary from year to year and the Company has certain rights to direct the activities that result in these costs. (4) On September 11, 2020, the Company entered into a one-year Sponsored Project Agreement with NCSU for continued research of tobacco alkaloid formation. (5) The Company is also responsible for the payment of certain costs, including, capitalized patent costs and patent maintenance costs, a running royalty on future net sales of products made from the sublicensed intellectual property, and a sharing of future sublicensing consideration received from sublicensing to third parties. (6) Various R&D growing agreements for hemp / cannabis and tobacco.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2020
EARNINGS PER SHARE
Schedule of computation of basic and diluted earnings per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ 2020 2019 ​ 2018 ​ ​ (in thousands, except for per-share data) Net loss ​ $ (19,711) ​ $ (26,558) ​ $ (7,967) Weighted average common shares outstanding - basic and diluted ​ ​ 138,813 ​ ​ 125,883 ​ ​ 124,299 Net loss per common share - basic and diluted ​ $ (0.14) ​ $ (0.21) ​ $ (0.06) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Anti-dilutive shares are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ ​ 11,293 ​ ​ 11,293 ​ ​ 11,293 Options ​ ​ 6,581 ​ ​ 7,837 ​ ​ 8,672 Restricted stock units ​ ​ 2,938 ​ ​ 951 ​ ​ — ​ ​ ​ 20,812 ​ ​ 20,081 ​ ​ 19,965
Schedule of anti-dilutive shares excluded from dilutive securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ 2020 2019 ​ 2018 ​ ​ (in thousands, except for per-share data) Net loss ​ $ (19,711) ​ $ (26,558) ​ $ (7,967) Weighted average common shares outstanding - basic and diluted ​ ​ 138,813 ​ ​ 125,883 ​ ​ 124,299 Net loss per common share - basic and diluted ​ $ (0.14) ​ $ (0.21) ​ $ (0.06) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Anti-dilutive shares are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrants ​ ​ 11,293 ​ ​ 11,293 ​ ​ 11,293 Options ​ ​ 6,581 ​ ​ 7,837 ​ ​ 8,672 Restricted stock units ​ ​ 2,938 ​ ​ 951 ​ ​ — ​ ​ ​ 20,812 ​ ​ 20,081 ​ ​ 19,965

EQUITY- BASED COMPENSATION (Tab

EQUITY- BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2020
EQUITY- BASED COMPENSATION
Summary of changes in unvested restricted stock	​ ​ ​ ​ ​ ​ ​ ​ ​ Unvested RSUs ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant-date ​ Shares Fair Value ​ ​ in thousands ​ $ per share Unvested at December 31, 2018 ​ — ​ $ — Granted ​ 1,301 ​ $ 2.21 Vested ​ (100) ​ $ 2.02 Forfeited ​ (250) ​ $ 2.02 Unvested at December 31, 2019 951 ​ $ 2.15 Granted 2,885 ​ $ 0.71 Vested ​ (325) ​ $ 1.07 Forfeited ​ (573) ​ $ 1.90 Unvested at December 31, 2020 ​ 2,938 ​ $ 0.85
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ ​ Aggregate ​ ​ Number of ​ Exercise ​ Contractual ​ ​ Intrinsic ​ Options Price Term Value ​ ​ in thousands ​ $ per share ​ ​ ​ ​ ​ ​ Outstanding at December 31, 2017 8,157 ​ $ 1.28 ​ Granted 1,632 ​ $ 2.64 ​ Exercised (613) ​ $ 0.87 ​ Expired / cancelled (504) ​ $ 1.71 ​ Outstanding at December 31, 2018 8,672 ​ $ 1.54 ​ Granted 600 ​ $ 2.07 ​ Exercised ​ (75) ​ $ 0.93 ​ ​ ​ ​ ​ ​ Forfeited ​ (1,360) ​ $ 2.09 ​ ​ ​ ​ ​ ​ Outstanding at December 31, 2019 ​ 7,837 ​ $ 1.49 ​ ​ ​ ​ ​ ​ Exercised ​ (399) ​ $ 1.04 ​ ​ ​ ​ ​ ​ Forfeited ​ (169) ​ $ 1.83 ​ ​ ​ ​ ​ ​ Expired ​ (688) ​ $ 1.51 ​ ​ ​ ​ ​ ​ Outstanding December 31, 2020 6,581 ​ $ 1.50 3.9 years $ 3,983 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at December 31, 2020 5,737 ​ $ 1.51 3.7 years $ 4,325
Schedule of fair value assumptions	​ ​ ​ ​ ​ ​ ​ ​ 2019 2018 Risk-free interest rate (weighted average) 1.54 % 2.77 % Expected dividend yield — % — % Expected stock price volatility 70 % 90 % Expected life of options (weighted average) 5.15 years 5.61 years
Schedule of compensation costs related to restricted stock and stock options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ 2020 2019 2018 Sales, general, and administrative ​ $ 1,526 ​ $ 3,166 ​ $ 1,341 Research and Development ​ 128 ​ 374 ​ 1,846 Total restricted stock and stock option compensation ​ $ 1,654 ​ $ 3,540 ​ $ 3,187

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
INCOME TAXES
Summary of the components giving rise to the income tax provision (benefit)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Current: ​ ​ ​ Federal ​ $ — ​ $ — ​ $ — State ​ — ​ — ​ — Total current ​ $ — ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred: ​ ​ ​ Federal ​ ​ (3,932) ​ (5,607) ​ (1,446) State ​ (200) ​ 55 ​ (14) Total deferred ​ (4,132) ​ (5,552) ​ (1,460) Change in valuation allowance ​ 4,170 ​ 5,552 ​ 1,460 Total income taxes ​ $ 38 ​ $ — ​ $ —
Schedule of effective income tax rate reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Statutory federal rate (21.0) % (21.0) % (21.0) % Other items (0.3) (0.1) 0.1 ​ Litigation Settlement — 1.5 ​ Derivative liability — — (0.1) ​ Stock based compensation 0.7 1.8 2.5 ​ Research and development credit carryforward 0.2 (3.3) (1.2) ​ State tax provision, net of federal benefit (0.8) 0.2 (0.1) ​ Equity investment — — 1.5 ​ Federal tax rate change — — — ​ Valuation allowance 21.4 20.9 18.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective tax rate (benefit) provision 0.2 % — % — %
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 2018 Deferred tax assets: ​ ​ ​ Net operating loss carry-forward ​ $ 18,498 ​ $ 14,996 ​ $ 11,527 Inventory ​ 115 ​ 52 ​ 21 Stock-based compensation ​ 1,099 ​ 1,049 ​ 813 Start-up expenditures ​ 199 ​ 221 ​ 243 Research and development credit carryforward ​ 1,171 ​ 1,209 ​ 326 Loss on equity investment ​ — ​ — ​ — Accrued bonus ​ 423 ​ 200 ​ 101 Severance liability ​ 122 ​ 134 ​ — Investment in Panacea ​ 360 ​ 40 ​ — Operating lease obligations ​ 52 ​ 127 ​ — Other ​ 29 ​ 22 ​ 20 ​ ​ $ 22,068 ​ $ 18,050 ​ $ 13,051 Deferred tax liabilities: ​ ​ ​ Machinery and equipment ​ (237) ​ (239) ​ (215) Patents and trademarks ​ (358) ​ (351) ​ (562) Gain on investment ​ (13) ​ (104) ​ (612) Accrued expense ​ (24) ​ (51) ​ (71) Operating lease right-of-use assets ​ (52) ​ (126) ​ — Other intangible assets ​ (224) ​ (189) ​ (153) ​ ​ (908) ​ (1,060) ​ (1,613) Valuation allowance ​ (21,198) ​ (16,990) ​ (11,438) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net deferred taxes ​ $ (38) ​ $ — ​ $ —

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of contract assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Unbilled receivables $ 349 $ 406 Deferred Revenue ​ ​ (272) ​ ​ (5) Net contract assets ​ $ 77 ​ $ 401
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ 2020 2019 2018 Net sales-over time ​ $ 16,326 ​ $ 16,466 ​ $ 16,785 Net sales-point in time ​ 11,785 ​ 9,367 ​ 9,641 Total Revenue ​ $ 28,111 ​ $ 25,833 ​ $ 26,426

SUBSEQUENT EVENT (Tables)

SUBSEQUENT EVENT (Tables)	12 Months Ended
	Dec. 31, 2020
SUBSEQUENT EVENTS
Schedule of key lease terms	​ ​ ​ ​ ​ ​ ​ Key Lease Terms ​ ​ $ in thousands Commencement Date ​ February 15, 2021 ​ Monthly Base Rent (Year 1) $ 6 ​ Base Rent Annual Increase (Year 2 - onward) ​ 2.5 % Initial Term (months) ​ 36 ​

SELECTED QUARTERLY FINANCIAL _2

SELECTED QUARTERLY FINANCIAL DATA (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
SELECTED QUARTERLY FINANCIAL DATA (unaudited)
Schedule of quarterly financial information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ March 31, ​ June 30, ​ September 30, ​ December 31, ​ 2020 2020 2020 2020 Revenue, net ​ $ 7,058 ​ $ 6,435 ​ $ 7,310 ​ $ 7,308 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross (loss) profit ​ $ 287 ​ $ 201 ​ $ 362 ​ $ 588 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss from operations ​ $ (4,142) ​ $ (4,753) ​ $ (4,040) ​ $ (6,248) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (4,028) ​ $ (5,057) ​ $ (4,221) ​ $ (6,405) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss per common share – basic and diluted ​ $ (0.03) ​ $ (0.04) ​ $ (0.03) ​ $ (0.04) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ March 31, June 30, September 30, December 31, ​ 2019 2019 2019 2019 Revenue, net ​ $ 6,294 ​ $ 5,815 ​ $ 6,462 ​ $ 7,262 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ​ $ (103) ​ $ (86) ​ $ (21) ​ $ 225 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss from operations ​ $ (5,379) ​ $ (5,029) ​ $ (7,606) ​ $ (5,552) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ (2,073) ​ $ (8,042) ​ $ (10,245) ​ $ (6,198) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss per common share – basic and diluted ​ $ (0.02) ​ $ (0.06) ​ $ (0.08) ​ $ (0.05)

NATURE OF BUSINESS AND SUMMAR_3

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2020itemsubsidiary
Condensed Financial Statements, Captions [Line Items]
Number of subsidiaries	3
Number of line items affected by reclassifications | item	2
Maximum maturity date of securities	24 months
Twenty Second Century Ltd [Member]
Condensed Financial Statements, Captions [Line Items]
Number of subsidiaries	2

NATURE OF BUSINESS AND SUMMAR_4

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Machinery and equipment (Details)	12 Months Ended
	Dec. 31, 2020
Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Inventory [Line Items]
Inventory - tobacco leaf	$ 821	$ 1,178
Inventory - finished goods	171	106
Inventory - raw materials	1,142	1,082
Less: inventory reserve	(100)	(100)
Inventory, Net	2,034	2,266
Inventory write-off	521	985
Research and Development Expense [Member]
Inventory [Line Items]
Inventory write-off	361	$ 985
Cost of Sales [Member]
Inventory [Line Items]
Inventory write-off	$ 161

MACHINERY AND EQUIPMENT (Detail

MACHINERY AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Machinery and Equipment, Gross
Less: accumulated depreciation	(2,670)	$ (2,284)
Machinery and equipment, net	2,483	3,120
Depreciation	$ 688	589	$ 523
Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Cigarette manufacturing equipment
Property, Plant and Equipment [Line Items]
Machinery and Equipment, Gross	$ 4,893	4,870
Cigarette manufacturing equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Cigarette manufacturing equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Office furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Machinery and Equipment, Gross	$ 20	152
Property, Plant and Equipment, Useful Life	5 years
Laboratory equipment
Property, Plant and Equipment [Line Items]
Machinery and Equipment, Gross	$ 117	125
Property, Plant and Equipment, Useful Life	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Machinery and Equipment, Gross	$ 123	$ 257
Property, Plant and Equipment, Useful Life	6 years

RIGHT-OF-USE ASSETS, LEASE OB_3

RIGHT-OF-USE ASSETS, LEASE OBLIGATIONS AND OTHER LEASES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
RIGHT-OF-USE ASSETS, LEASE OBLIGATIONS, AND OTHER LEASES
Number of one-year renewal options | item	3
Weighted average remaining lease term in years	1 year 1 month 6 days
Weighted average discount rate	4.50%
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 245
2022	9
Total lease payments	254
Less: imputed interest	(6)
Operating Lease, Liability	248
Operating Lease, Expense	$ 335	$ 250

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Intangible assets, net
Intangible assets, net	$ 8,211	$ 8,494
Amortization expense	658	836	$ 820
Impairment of intangible assets	176	1,142	$ 0
Intangible assets written off, cost	448	2,092
Intangible assets written off, accumulated amortization	302	950
MSA Signatory Costs
Intangible assets, net
Indefinite-lived intangible assets	2,202	2,202
Licensing agreements
Intangible assets, net
Indefinite-lived intangible assets	350	350
Patent and Trademark [Member]
Intangible assets, net
Gross	5,667	5,712
Less: accumulated amortization	(2,936)	(2,839)
Total	2,731	2,873
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	350
Finite-Lived Intangible Assets, Amortization Expense, Year Two	350
Finite-Lived Intangible Assets, Amortization Expense, Year Three	350
Finite-Lived Intangible Assets, Amortization Expense, Year Four	350
Finite-Lived Intangible Assets, Amortization Expense, Year Five	350
Licensing agreements
Intangible assets, net
Gross	3,876	3,777
Less: accumulated amortization	(948)	(709)
Total	2,928	$ 3,069
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	244
Finite-Lived Intangible Assets, Amortization Expense, Year Two	244
Finite-Lived Intangible Assets, Amortization Expense, Year Three	244
Finite-Lived Intangible Assets, Amortization Expense, Year Four	244
Finite-Lived Intangible Assets, Amortization Expense, Year Five	$ 244

INVESTMENTS AND CONVERTIBLE N_3

INVESTMENTS AND CONVERTIBLE NOTE RECEIVABLE - Investment in Panacea (Details) $ / shares in Units, $ in Thousands	Dec. 03, 2019USD ($)$ / shares	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)item$ / shares	Dec. 31, 2019USD ($)	Dec. 22, 2019$ / shares
Marketable Securities [Line Items]
Long-term Investments			$ 6,536	$ 8,403
Shares issued for Panacea, value	$ 1,297			1,297
Share price | $ / shares	$ 1
Convertible note			5,876	5,589
Exercise price | $ / shares					$ 1.11
Impairment of Panacea investment			1,741
Preferred stock
Marketable Securities [Line Items]
Long-term Investments			$ 5,173	4,865
Dividend rate			10.00%
Investment in Panacea
Marketable Securities [Line Items]
Long-term Investments	$ 13,297		$ 7
Amount paid to acquire investments	12,000
Shares issued for Panacea, value	$ 1,297
Share price | $ / shares	$ 1.875
Ownership percentage (in percent)	15.80%
Number of instruments comprising the investment | item			3
Note receivable term			5 years
Note receivable interest rate			10.00%
Number of years for acceleration of exercise date	2 years
Assets transferred			$ 7,170
Cancellation of note receivable			$7,000
Interest Receivable			$ 170
Value before impairment			7,170
Impairment of Panacea investment			679
Investments, Fair Value Disclosure [Abstract]
Total			12,343
Investment in Panacea | Preferred stock
Marketable Securities [Line Items]
Long-term Investments			5,173
Original issuance price	$ 7,000
Discount on investment instruments	$ 1,433
Investment in Panacea | Warrant
Marketable Securities [Line Items]
Long-term Investments			$ 1,124	$ 2,865
Ownership percentage (in percent)			51.00%
Exercise price | $ / shares			$ 2.344
Impairment of Panacea investment		$ 1,062
Investment in Panacea | Warrant | Fair Value, Inputs, Level 3 | Volatility
Marketable Securities [Line Items]
Assumption rate	0.70
Investment in Panacea | Warrant | Fair Value, Inputs, Level 3 | Discount for lack of marketability
Marketable Securities [Line Items]
Assumption rate	0.25
Investment in Panacea | Warrant | Fair Value, Inputs, Level 3 | Risk-free rate
Marketable Securities [Line Items]
Assumption rate	0.02
Investment in Panacea | Convertible note receivable
Marketable Securities [Line Items]
Convertible note			$ 5,876
Discount on investment instruments	$ 1,433

INVESTMENTS AND CONVERTIBLE N_4

INVESTMENTS AND CONVERTIBLE NOTE RECEIVABLE - Investment in Anandia (Details) $ / shares in Units, $ in Thousands	Aug. 08, 2018USD ($)shares	Aug. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 22, 2019$ / shares	Aug. 08, 2018$ / shares
Schedule of Equity Method Investments [Line Items]
Unrealized (loss) gain on investment					$ (434)	$ (2,419)	$ 284
Exercise price | $ / shares								$ 1.11
Realized gain on investments							14,493
Proceeds from sale of investments							13,052
Investment in Anandia [Member]
Schedule of Equity Method Investments [Line Items]
Unrealized (loss) gain on investment				$ 6,147
Term of the warrant					5 years
Realized gain on investments		$ 6,147
Aurora Cannabis Inc [Member]
Schedule of Equity Method Investments [Line Items]
Stock transferred (in shares) | shares	1,947,943
Fair value of stock transferred	$ 9,222
Fair value of stock warrants acquired on August 8, 2018	$ 2,808
Realized gain on investments		$ 4,516	$ 3,830
Proceeds from sale of investments							$ 13,052
Aurora Cannabis Inc [Member] | Warrant
Schedule of Equity Method Investments [Line Items]
Shares represented by warrants | shares	973,971
Exercise price | $ / shares									$ 9.37

INVESTMENTS AND CONVERTIBLE N_5

INVESTMENTS AND CONVERTIBLE NOTE RECEIVABLE - Stock split and carrying value (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020$ / sharesshares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)	Dec. 22, 2019$ / shares	Dec. 03, 2019USD ($)	Aug. 08, 2018$ / sharesshares
Marketable Securities [Line Items]
Exercise price | $ / shares				$ 1.11
Investments		$ 6,536	$ 8,403
Convertible note		5,876	5,589
Preferred stock
Marketable Securities [Line Items]
Investments		5,173	4,865
Investment in Panacea
Marketable Securities [Line Items]
Investments		$ 7			$ 13,297
Investment in Panacea | Warrant
Marketable Securities [Line Items]
Exercise price | $ / shares		$ 2.344
Investments		$ 1,124	2,865
Investment in Panacea | Preferred stock
Marketable Securities [Line Items]
Investments		5,173
Aurora Cannabis Inc [Member]
Marketable Securities [Line Items]
Reverse stock split, ratio	12
Aurora Cannabis Inc [Member] | Warrant
Marketable Securities [Line Items]
Shares represented by warrants | shares	81,164					973,971
Exercise price | $ / shares	$ 112.44					$ 9.37
Investments		$ 239	$ 673

FAIR VALUE MEASUREMENTS - Recur

FAIR VALUE MEASUREMENTS - Recurring (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Short-term Investments [Member]
Assets
Assets at fair value	$ 21,313	$ 38,477
Money Market Funds
Assets
Assets at fair value	8,636	12,146
Corporate Bonds
Assets
Assets at fair value	12,677	26,331
Warrant
Assets
Assets at fair value	$ 239	$ 673
Warrant | Volatility
Assets
Equity Securities, FV-NI, Measurement Input	137	83
Input increase (decrease) assumption, as a percent	20.00%	20.00%
Estimated change in fair value due to change in input	$ 115	$ 260
Convertible note receivable
Assets
Assets at fair value	5,173	4,865
Notes Receivable [Member]
Assets
Assets at fair value	5,876	5,589
Fair Value, Inputs, Level 1 | Short-term Investments [Member]
Assets
Assets at fair value	8,636	12,146
Fair Value, Inputs, Level 1 | Money Market Funds
Assets
Assets at fair value	8,636	12,146
Fair Value, Inputs, Level 1 | Corporate Bonds
Assets
Assets at fair value	0
Fair Value, Inputs, Level 2 | Short-term Investments [Member]
Assets
Assets at fair value	12,677	26,331
Fair Value, Inputs, Level 2 | Money Market Funds
Assets
Assets at fair value	0
Fair Value, Inputs, Level 2 | Corporate Bonds
Assets
Assets at fair value	12,677	26,331
Fair Value, Inputs, Level 3 | Short-term Investments [Member]
Assets
Assets at fair value	0
Fair Value, Inputs, Level 3 | Money Market Funds
Assets
Assets at fair value	0
Fair Value, Inputs, Level 3 | Corporate Bonds
Assets
Assets at fair value	0
Fair Value, Inputs, Level 3 | Warrant
Assets
Assets at fair value	239	673
Fair Value, Inputs, Level 3 | Convertible note receivable
Assets
Assets at fair value	5,173	4,865
Fair Value, Inputs, Level 3 | Notes Receivable [Member]
Assets
Assets at fair value	$ 5,876	$ 5,589

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in fair value, Level 3 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair value at beginning of the period	$ 11,127	$ 3,092
Unrealized gain as a result of change in fair value	434	(2,419)
Accretion of interest on note	595	22
Fair value at end of the period	$ 11,288	11,127
Convertible note receivable
Assets purchased		4,865
Notes Receivable [Member]
Assets purchased		$ 5,567

FAIR VALUE MEASUREMENTS - Avail

FAIR VALUE MEASUREMENTS - Available-for-sale securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities - Amortized Cost Basis	$ 23,652	$ 36,778
Available-for-sale Securities - Gross Unrealized Gains	74	64
Available-for-sale Securities - Gross Unrealized Losses	0	(57)
Available-for-sale Securities - Fair Value	23,726	36,785
Corporate Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities - Amortized Cost Basis	12,603	26,324
Available-for-sale Securities - Gross Unrealized Gains	74	64
Available-for-sale Securities - Gross Unrealized Losses	0	(57)
Available-for-sale Securities - Fair Value	12,677	26,331
Convertible note receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities - Amortized Cost Basis	5,173	4,865
Available-for-sale Securities - Gross Unrealized Gains	0
Available-for-sale Securities - Gross Unrealized Losses	0
Available-for-sale Securities - Fair Value	5,173	4,865
Notes Receivable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale Securities - Amortized Cost Basis	5,876	5,589
Available-for-sale Securities - Gross Unrealized Gains	0
Available-for-sale Securities - Gross Unrealized Losses	0
Available-for-sale Securities - Fair Value	$ 5,876	$ 5,589

FAIR VALUE MEASUREMENTS - Matur

FAIR VALUE MEASUREMENTS - Maturity of available-for-sale securities by contractual maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
FAIR VALUE MEASUREMENTS AND SHORT-TERM INVESTMENTS
Available For Sale, Maturities One Year or Less, Amortized Cost	$ 11,692	$ 16,823
Available For Sale, Maturities One Through Five Years, Amortized Cost	11,960	9,501
Available For Sale, Maturities Within Five Years, Amortized Cost	0	10,454
Available For Sale Securities, Amortized Cost	23,652	36,778
Available For Sale, Maturities One Year or Less, Fair Value	11,753	16,851
Available For Sale, Maturities One Through Five Years, Fair Value	11,973	9,480
Available For Sale, Maturities Within Five Years, Fair Value	0	10,454
Available For Sale Securities, Fair Value	$ 23,726	$ 36,785

NOTES PAYABLE FOR LICENSE FEE_2

NOTES PAYABLE FOR LICENSE FEES (Details) $ in Thousands	May 01, 2020USD ($)	Oct. 22, 2018USD ($)item	Jun. 30, 2018USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 22, 2018USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from SBA loan	$ 1,200				$ 1,183
Directors And Officers insurance, policy term				1 year
Annual premium				$ 2,744
Premium paid				$ 549
Proceeds from Notes Payable					2,195
Debt Instrument, Term				9 months
Debt Instrument, Interest Rate, Stated Percentage				3.19%
License fees, current					293	$ 581
D&O insurance payable				$ 2,195	246
Notes Payable, Current, Total					539	581
License fees, long-term						292
Accretion of non cash interest expense					43	48	$ 11
License Agreement | North Carolina State University [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Aggregate milestone payments								$ 1,200
Notes Payable								$ 1,175
Annual milestone payments beyond upfront amount			$ 300
Finite-Lived Intangible Assets, Gross					1,175
License Agreement | University Of Kentucky [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Aggregate milestone payments		$ 1,200
Notes Payable					1,151
Annual milestone payments beyond upfront amount		300
License acquired		1,151
Upfront payment		$ 300
Number of installments | item		3
Borrowings [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accretion of non cash interest expense					$ 20	$ 36	$ 11

SEVERANCE LIABILITY (Details)

SEVERANCE LIABILITY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Postemployment Benefits [Abstract]
Severance expense	$ 306	$ 881
Severance accrual		$ 771
Severance period	12 months	42 months
Accrued severance, current	$ 339	$ 359
Accrued severance, noncurrent	$ 241	$ 446

WARRANTS FOR COMMON STOCK (Deta

WARRANTS FOR COMMON STOCK (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 22, 2019	Nov. 25, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Warrant or Right [Line Items]
Number Of Warrants Exercised				11,293,211	794,869
Stock issued in connection with warrant exercises (in shares)					490,012
Reclassification of warrant liability to capital in excess of par					$ 168
Warrant liability gain (loss), net					$ 49
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.11
Proceeds from Warrant Exercises				$ 10,616
Warrants Consecutive Trading Days	10 days
Warrants Weighted Average Price	$ 3
Warrant notice price (in dollars per share)	$ 0.001
New Warrants [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		11,293,211
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 2.15
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Exercised For Cash		7,350,000
Class of Warrant or Right, Cash Exercise Price of Warrants or Rights		$ 1
Class of Warrant or Right, Number of Securities Called by Warrants or Rights, Remaining		3,943,211
Proceeds from Warrant Exercises		$ 7,400		$ 10,600
Warrants 2019 [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 1.25
Initial exercise period			5 years

WARRANTS FOR COMMON STOCK - War

WARRANTS FOR COMMON STOCK - Warrant Activity (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
WARRANTS FOR COMMON STOCK
Warrant outstanding balance		11,293,211	11,293,211
Warrants exercised	(11,293,211)	(794,869)
Warrants issued	11,293,211

RETIREMENT PLAN (Details)

RETIREMENT PLAN (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
RETIREMENT PLAN
Employer match of employee contribution, as a percent	3.00%
Employer contribution	$ 150	$ 157	$ 141

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Licenses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2021	$ 1,746
2022	1,535
2023	1,310
2024	1,310
2025 & After	1,510
Contractual Obligation, Total	7,411
Research Agreement | KeyGene
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2021	1,200
2022	1,200
2023	1,200
2024	1,200
2025 & After	300
Contractual Obligation, Total	$ 5,100
Agreement Term	5 years
Agreement extension period	2 years
Aggregate cost over initial term	$ 6,000
Research Agreement | North Carolina State University [Member]
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2021	121
Contractual Obligation, Total	$ 121
Agreement Term	1 year
License Agreement | Annual Royalty [Member]
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2021	$ 225
2022	225
Contractual Obligation, Total	450
Milestone payment upon approval of a product	150
License Agreement | Minimum Annual Royalty 1 [Member]
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2021	25
2022	50
2023	50
2024	50
2025 & After	600
Contractual Obligation, Total	775
License Agreement | Minimum Annual Royalty 2 [Member]
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2021	50
2022	50
2023	50
2024	50
2025 & After	500
Contractual Obligation, Total	700
Sublicense Agreement With Anandia
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2021	10
2022	10
2023	10
2024	10
2025 & After	110
Contractual Obligation, Total	150
Growing Agreement [Member]
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
2021	115
Contractual Obligation, Total	$ 115

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Investment, MRTP, litigation (Details) $ / shares in Units, $ in Thousands	Dec. 03, 2019USD ($)$ / sharesshares	Jul. 22, 2019USD ($)shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 15, 2020item	Nov. 19, 2019item
Other Commitments [Line Items]
Shares issued for Panacea, value	$ 1,297			$ 1,297
Share price | $ / shares	$ 1
Number of shares issued in settlement | shares		990,000
Voting period for shares awarded in settlement		5 years
Fair value of shares awarded in settlement		$ 1,891
Number of counts | item						3	3
Modified Risk Tobacco Product [Member]
Other Commitments [Line Items]
Research and Development Expense			$ 38	$ 1,679	$ 9,775
Investment in Panacea
Other Commitments [Line Items]
Ownership percentage (in percent)	15.80%
Amount paid to acquire investments	$ 12,000
Shares issued for Panacea, value	$ 1,297
Additional shares to be purchased, number | shares	5,333,334
Share price | $ / shares	$ 1.875
Portion of commitment payable in cash	$ 8,500

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
EARNINGS PER SHARE
Net loss attributed to common shareholders	$ (6,405)	$ (4,221)	$ (5,057)	$ (4,028)	$ (6,198)	$ (10,245)	$ (8,042)	$ (2,073)	$ (19,711)	$ (26,558)	$ (7,967)
Weighted average common shares outstanding - basic and diluted (in thousands)									138,813	125,883	124,299
Loss per common share - basic and diluted	$ (0.04)	$ (0.03)	$ (0.04)	$ (0.03)	$ (0.05)	$ (0.08)	$ (0.06)	$ (0.02)	$ (0.14)	$ (0.21)	$ (0.06)

EARNINGS PER SHARE - Anti-dilut

EARNINGS PER SHARE - Anti-dilutive securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities outstanding but excluded from computation of earnings per share	20,812	20,081	19,965
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities outstanding but excluded from computation of earnings per share	11,293	11,293	11,293
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities outstanding but excluded from computation of earnings per share	6,581	7,837	8,672
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities outstanding but excluded from computation of earnings per share	2,938	951

EQUITY-BASED COMPENSATION (Deta

EQUITY-BASED COMPENSATION (Details) - shares	May 03, 2019	Apr. 29, 2014	Dec. 31, 2020	Apr. 12, 2014
EQUITY- BASED COMPENSATION
Number of shares authorized as of date			15,000,000	5,000,000
Additional shares authorized during the period	5,000,000	5,000,000
Plan term			10 years
Number of shares remaining for future awards			3,987,167

EQUITY- BASED COMPENSATION - RS

EQUITY- BASED COMPENSATION - RSUs (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
RSUs, Number of shares
Nonvested, Number, Beginning Balance	951
RSUs granted, number	2,885	1,301
RSUs vested, number	(325)	(100)
RSUs forfeited, number	(573)	(250)
Nonvested, Number, Ending Balance	2,938	951
RSUs, Weighted average grant-date fair value
Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance	$ 2.15
RSUs granted, grant-date fair value	0.71	$ 2.21
RSUs vested, grant-date fair value	1.07	2.02
RSUs forfeited, grant-date fair value	1.90	2.02
Nonvested, Weighted Average Grant Date Fair Value, Ending Balance	$ 0.85	$ 2.15
Fair value of RSUs that vested during the period	$ 601	$ 202

EQUITY- BASED COMPENSATION - St

EQUITY- BASED COMPENSATION - Stock option activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Options
Options, number, Beginning of Period	7,837	8,672	8,157
Options granted, number		600	1,632
Options exercised, number	(399)	(75)	(613)
Options forfeited, number	(169)	(1,360)
Options expired, number	(688)		(504)
Options, number, End of Period	6,581	7,837	8,672
Options exercisable, number, End of Period	5,737
Options, Weighted Average Exercise Price
Options, Beginning of Period, weighted average exercise price	$ 1.49	$ 1.54	$ 1.28
Options granted, weighted average exercise price		2.07	2.64
Options exercised, weighted average exercise price	1.04	0.93	0.87
Options forfeited, weighted average exercise price	1.83	2.09
Options expired, weighted average exercise price	1.51		1.71
Options, End of Period, weighted average exercise price	1.50	$ 1.49	$ 1.54
Options exercisable, End of Period, weighted average exercise price	$ 1.51
Weighted Average Remaining Contractual Term
Options, End of Period, weighted average remaining contractual term	3 years 10 months 24 days
Options exercisable, End of Period, weighted average remaining contractual term	3 years 8 months 12 days
Aggregate Intrinsic Value
Options, End of Period, aggregate intrinsic value	$ 3,983
Options exercisable, End of Period, aggregated intrinsic value	$ 4,325

EQUITY BASED COMPENSATION - Fai

EQUITY BASED COMPENSATION - Fair value assumptions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
EQUITY- BASED COMPENSATION
Risk-free interest rate (weighted average)	1.54%	2.77%
Expected dividend yield	$ 0
Expected stock price volatility	70.00%	90.00%
Expected life of options (weighted average)	5 years 1 month 24 days	5 years 7 months 9 days

EQUITY-BASED COMPENSATION - Com

EQUITY-BASED COMPENSATION - Compensation expense and unrecognized compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based employee compensation expense	$ 1,654	$ 3,540	$ 3,187
Unrecognized compensation	$ 1,528
Unrecognized compensation, period for recognition	10 months 24 days
Unrecognized compensation, options with milestone-based vesting	$ 637
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based employee compensation expense	1,526	3,166	1,341
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based employee compensation expense	$ 128	$ 374	$ 1,846

INCOME TAXES - Provision (Detai

INCOME TAXES - Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES
Statutory federal rate	21.00%	21.00%	21.00%
Deferred:
Federal	$ (3,932)	$ (5,607)	$ (1,446)
State	(200)	55	(14)
Total deferred	(4,132)	(5,552)	(1,460)
Change in valuation allowance	4,170	$ 5,552	$ 1,460
Income Tax Expense (Benefit), Total	$ 38

INCOME TAXES - Rate reconciliat

INCOME TAXES - Rate reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES
Statutory federal rate	(21.00%)	(21.00%)	(21.00%)
Other items	(0.30%)	(0.10%)	0.10%
Litigation Settlement		1.50%
Derivative liability			(0.10%)
Stock based compensation	0.70%	1.80%	2.50%
Research and development credit carryforward	0.20%	(3.30%)	(1.20%)
State tax provision, net of federal benefit	(0.80%)	0.20%	(0.10%)
Equity investment			1.50%
Valuation allowance	21.40%	20.90%	18.30%
Effective tax rate (benefit) provision	0.20%

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating loss carry-forward	$ 18,498	$ 14,996	$ 11,527
Inventory	115	52	21
Stock-based compensation	1,099	1,049	813
Start-up expenditures	199	221	243
Research and development credit carryforward	1,171	1,209	326
Accrued bonus	423	200	101
Severance liability	122	134
Investment in Panacea	360	40
Operating lease obligations	52	127
Other	29	22	20
Total deferred tax assets	22,068	18,050	13,051
Deferred tax liabilities:
Machinery and equipment	(237)	(239)	(215)
Patents and trademarks	(358)	(351)	(562)
Gain on investment	(13)	(104)	(612)
Accrued expense	(24)	(51)	(71)
Operating lease right-of-use assets	(52)	(126)
Other intangible assets	(224)	(189)	(153)
Total deferred tax liabilities	(908)	(1,060)	(1,613)
Valuation allowance	(21,198)	$ (16,990)	$ (11,438)
Net deferred taxes	$ (38)

INCOME TAXES - NOLs, Unrecogniz

INCOME TAXES - NOLs, Unrecognized (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
INCOME TAXES
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	$ 15,500,000	$ 16,800,000	$ 7,700,000
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration				$ 46,900,000
Deferred Tax Assets, Tax Credit Carryforwards, Research	1,171,000	$ 1,209,000	$ 326,000
Liability for uncertain tax positions	$ 0

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item
Disaggregation of Revenue [Line Items]
Allowance for discounts or returns and allowances	$ 0				$ 0				$ 0	$ 0
Payment period									21 days
Unbilled receivables	349				406				$ 349	406
Deferred revenue	(272)				(5)				(272)	(5)
Contract asset (liability), net	77				401				77	401
Sale of products, net	$ 7,308	$ 7,310	$ 6,435	$ 7,058	$ 7,262	$ 6,462	$ 5,815	$ 6,294	$ 28,111	$ 25,833	$ 26,426
Number of customers | item									2	3	3
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Sale of products, net									$ 16,326	$ 16,466	$ 16,785
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Sale of products, net									$ 11,785	$ 9,367	$ 9,641
Revenue [Member]
Disaggregation of Revenue [Line Items]
Risk concentration, as a percent									91.00%	92.70%	92.00%

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) $ in Thousands	Jan. 15, 2021USD ($)item	Mar. 31, 2021USD ($)shares	Dec. 31, 2019USD ($)	Dec. 31, 2018shares
Subsequent Event [Line Items]
Stock issued in connection with warrant exercises (in shares) | shares				490,012
Net proceeds from exercise of stock warrants			$ 10,616
Subsequent Event [Member]
Subsequent Event [Line Items]
Monthly base rent	$ 6
Base Rent Annual Increase, as a percent	2.50%
Lessor, Operating Lease, Term of Contract	36 months
Number of renewal options | item	2
Lessor, Operating Lease, Renewal Term	24 months
Stock issued in connection with warrant exercises (in shares) | shares		9,577,612
Net proceeds from exercise of stock warrants		$ 9,993

SELECTED QUARTERLY FINANCIAL _3

SELECTED QUARTERLY FINANCIAL DATA (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SELECTED QUARTERLY FINANCIAL DATA (unaudited)
Revenue, net	$ 7,308	$ 7,310	$ 6,435	$ 7,058	$ 7,262	$ 6,462	$ 5,815	$ 6,294	$ 28,111	$ 25,833	$ 26,426
Gross profit (loss)	588	362	201	287	225	(21)	(86)	(103)	1,438	15	899
Loss from operations	(6,248)	(4,040)	(4,753)	(4,142)	(5,552)	(7,606)	(5,029)	(5,379)	(19,183)	(23,566)	(24,019)
Net income (loss)	$ (6,405)	$ (4,221)	$ (5,057)	$ (4,028)	$ (6,198)	$ (10,245)	$ (8,042)	$ (2,073)	$ (19,711)	$ (26,558)	$ (7,967)
Loss per common share - basic and diluted	$ (0.04)	$ (0.03)	$ (0.04)	$ (0.03)	$ (0.05)	$ (0.08)	$ (0.06)	$ (0.02)	$ (0.14)	$ (0.21)	$ (0.06)