01:34 PM EDT, 09/09/2024 (MT Newswires) -- 22nd Century Group ( XXII ) shares were 8.5% higher in recent Monday trading after the company disclosed a $1.2 million payment agreement with North Carolina State University for intellectual property licensing and research.

Under the agreement, all expenses related to patent maintenance, royalty, license and sponsored research from Q4 2023 through the end of 2025 will be payable in either cash or company shares, the company said in a statement.

22nd Century ( XXII ) said it will issue the payments in three installments from Sept. 15, 2024, through Jan. 15, 2025, according to a filing with the US Securities and Exchange Commission.

Price: 0.29, Change: +0.02, Percent Change: +8.51