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Why Mallinckrodt Stock Is Jumping Today

TheMotleyFool

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Shares of Mallinckrodt (NYSE: MNK) are jumping today, up 11.8% as of 11:20 a.m. EST. The big gain reflects continued momentum after the drugmaker's CEO, Mark Trudeau, stated on Monday at the J.P. Morgan Healthcare Conference that Mallinckrodt could pay off its debt coming due in 2020 with cash. He also expressed optimism about resolving a dispute with the federal government related to pricing for the company's Acthar gel.

Mallinckrodt's shares have risen more than 60% this week, with investors appearing to believe that the company's worst days are behind it. Trudeau's comments at the J.P. Morgan conference poured fuel on the fire for a couple of reasons.

Image source: Getty Images.

Source Fool.com

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