: Mallinckrodt stock rises after disclosure of another one-week delay in the $200 million opioid-settlement payment

Shares of Mallinckrodt PLC MNK rose 5.5% in afternoon trading Friday, after the drugmaker disclosed that it will once again delay the $200 million opioid-settlement payment by a week, following discussions with the Opioid Master Disbursement Trust II. The payment was originally scheduled for June 16, but the company has kept delaying payment a week at a time, as its board of directors continues to hold talks with stakeholders about its capital position and financial obligations. “The board has not determined the ultimate path for the company, including whether or not the company will make a filing under the U.S. Bankruptcy Code or analogous foreign bankruptcy or insolvency laws,” the company said. The stock has plunged 82.0% over the past three months, while the S&P 500 SPX has gained 9.1%.

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