Lifecore Biomedical (LFCR) Stock News

Lifecore Biomedical (LFCR) has secured a significant 10-year commercial manufacturing and supply agreement with a key existing customer for a novel ophthalmic therapeutic. The agreement includes a multi-million-dollar statement of work for fill and finish CDMO services, including manufacturing Process Performance Qualification (PPQ) batches. This partnership represents a crucial milestone in Lifecore's growth strategy, particularly in advancing late-stage customer projects toward commercialization. CEO Paul Josephs emphasized the agreement's importance in generating substantial commercial manufacturing revenue from this established relationship while supporting the development of potentially impactful patient treatments.

Lifecore Biomedical (NASDAQ: LFCR) has received an accelerated payment of $10 million, representing the remaining balance from a previously announced $17 million equipment sale. The buyer opted to pay the full amount ahead of the original 18-month installment schedule, with $7 million already received in early 2025. The sale involved an excess high-speed, multi-purpose 10-head isolator filler sold to a non-competitive buyer. This development strengthens Lifecore's balance sheet and complements their recent installation of a high-speed 5-head filler, which supports up to $300 million in annual revenue generating capacity. The transaction aligns with the company's strategy of optimizing operations and aligning capital assets with operational needs.

Lifecore Biomedical (NASDAQ: LFCR) has appointed Mark DaFonseca as chief commercial officer. DaFonseca brings nearly 30 years of pharmaceutical industry experience, including over 15 years leading CDMO sales organizations. He most recently served as vice president of North American sales at CordenPharma. In his new role, DaFonseca will focus on elevating Lifecore's brand in the CDMO market by expanding the sales team, strengthening customer partnerships, and growing the business portfolio. As part of his appointment, Lifecore will grant DaFonseca 20,000 restricted stock units and options for 30,000 shares of common stock as inducement equity awards.

Lifecore Biomedical (NASDAQ: LFCR), a fully integrated contract development and manufacturing organization (CDMO), has announced its participation in the upcoming CDMO Live 2025 conference scheduled for May 7-8, 2025, in Rotterdam, Netherlands.

Jackie Klecker, Executive Vice President of Quality and Development Services at Lifecore, will chair a discussion titled 'Quality as a Catalyst: Accelerating CDMO Success Through Quality Management' on Wednesday, May 7, 2025, at noon local time. The session will feature external quality leaders from the CDMO industry exploring approaches to transform quality management into a strategic driver of CDMO partnerships.

Klecker brings over 30 years of industry experience in quality, manufacturing, and development, including more than a decade overseeing Lifecore's quality assurance.

Lifecore Biomedical (NASDAQ: LFCR) has announced the granting of equity inducement awards to Thomas D. Salus, their newly appointed chief legal and administration officer. The grants, approved on April 14, 2025, include:

• 45,000 restricted stock units (RSUs) vesting on the third anniversary
• 210,000 stock options vesting over three years
• 170,000 RSUs vesting in three annual installments
• Performance stock units (PSUs) of up to 370,000 shares based on stock price targets

The PSUs will vest based on achieving stock price targets ranging from $7.50 to $35.00 per share over a five-year performance period, with 50% of vested shares restricted from transfer for one year after vesting. These awards were granted under Lifecore's Equity Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

Lifecore Biomedical (NASDAQ: LFCR) has appointed Thomas (Tom) Salus as chief legal and administration officer and corporate secretary. Salus brings over 30 years of legal and management experience to the contract development and manufacturing organization (CDMO).

Salus joins from Viatris Inc., where he served as general counsel - corporate, securities & transactions and assistant secretary for 11 years. His experience includes roles at VWR International and PPL , along with positions at major law firms including Faegre Drinker Biddle & Reath LLP.

In his new role at Lifecore, Salus will oversee legal activities and human resources, while contributing to strategy development and corporate development activities focused on strategic alliances and partnerships. His expertise spans corporate governance, SEC reporting and compliance, complex business transactions, financings, and corporate compliance.

Lifecore Biomedical (NASDAQ: LFCR) reported Q3 fiscal 2025 financial results with revenues of $35.2 million, down 2% from $35.7 million in the prior year period. The company recorded a net loss of $14.8 million ($0.47 per share) compared to net income of $15.6 million in Q3 2024.

Key developments include:

• Multiple new development agreements signed with new and existing customers
• Sale of unused filler equipment for $17 million, strengthening balance sheet
• Adjusted EBITDA of $5.7 million, down from $6.4 million year-over-year
• Gross profit decreased to $9.8 million from $11.9 million

The company maintained its fiscal 2025 guidance, expecting revenue of $126.5-130 million and Adjusted EBITDA of $19-21 million.

Lifecore Biomedical (NASDAQ: LFCR), a contract development and manufacturing organization (CDMO), has scheduled its third quarter fiscal 2025 financial results announcement for Thursday, April 3, 2025, after market close.

The company's senior management team will host a webcast at 4:30 p.m. Eastern Time to discuss the quarterly results and recent corporate developments. The webcast will be accessible through Lifecore's Investor Events & Presentations webpage, with an archived version available for 30 days following the live presentation.

Lifecore Biomedical (NASDAQ: LFCR) has been selected by Humanetics to provide CDMO services for the development of BIO 300, a novel radioprotective agent. The collaboration focuses on preventing acute radiation syndrome, with development funded by the Department of Defense.

Under the agreement, Lifecore will handle technology transfer of the fill and finish process for BIO 300, including formulation development, gap assessment, and pilot batch filling. The company will also conduct analytical method work and feasibility assessments for future development.

BIO 300 is currently in late-stage clinical development for multiple applications, including:

• Mitigation of impaired pulmonary function in COVID-19 patients
• Protection of cancer patients from radiation therapy side effects
• Prevention of acute radiation syndrome for warfighters, First Responders, and civilians

The project is supported by a $5,132,520 award from the Department of Defense's Peer Reviewed Medical Research Program.