22nd Century Stock Jumps 39% Pre-Market On $9.5 Million Insurance Settlement - 22nd Century Group (NASDAQ:XXII)

Core Insights - 22nd Century Group Inc. shares surged 39.07% in pre-market trading to $2.10 following a $9.5 million insurance settlement that resolves business interruption claims from the Grass Valley incident in November 2022 [1][2] Financial Position - The settlement signifies a pivotal moment for the company, which is now debt-free, with CEO Larry Firestone stating that the balance sheet has been cleaned up over the past 22 months [2] - The company aims to achieve profitability by 2026, transitioning from survival capital to growth capital, focusing on expanding distribution for its VLN-branded products and partnerships [2] Settlement Details - The insurers are required to pay the $9.5 million settlement within 45 days of the agreement's effective date [3] Market Performance - The stock reached a one-month peak of $1.97 on September 19 but closed at $1.51, reflecting a decline of approximately 23.35% from that high [4] - Over the past year, the stock has seen a dramatic loss of 99.82%, with a 52-week trading range of $1.51 to $978.08 [4] - The company's market capitalization is currently $5.71 million, with an average daily trading volume of 1.19 million shares [4] Price Action - On the last trading day, the stock closed at $1.51, down 4.43% [5] - Benzinga's Edge Stock Rankings indicate a negative price trend for XXII across all time frames [5]