Welcome to our dedicated page for Lifecore Biomedical news (Ticker: LFCR), a resource for investors and traders seeking the latest updates and insights on Lifecore Biomedical stock.
Lifecore Biomedical, Inc. (NASDAQ: LFCR) is described as a fully integrated contract development and manufacturing organization (CDMO) focused on sterile injectable pharmaceutical products and injectable-grade hyaluronic acid. The Lifecore news feed on this page aggregates company-issued updates and related coverage so readers can follow how the business communicates its progress and key events over time.
News items commonly include financial results for specific reporting periods, where Lifecore discusses revenue trends across its CDMO and HA manufacturing activities, operational initiatives, and non-GAAP measures such as Adjusted EBITDA. The company also issues announcements about new CDMO agreements, including master services agreements and commercial site transfer arrangements with large multinational pharmaceutical companies, as well as development agreements with early-stage biotechnology customers.
In addition, Lifecore regularly reports on strategic collaborations and industry participation. Examples include a collaboration with PolyPeptide Laboratories, Inc. to support peptide-based pharmaceutical customers and participation in healthcare and investor conferences such as the J.P. Morgan Healthcare Conference, Jefferies Global Healthcare Conference, and specialized pharmaceutical manufacturing events. These updates provide insight into how Lifecore presents its capabilities in formulation, fill/finish, and packaging of sterile injectables.
Other news may cover corporate and governance developments, such as inducement equity grants under Nasdaq Listing Rule 5635(c)(4), index-related announcements like expected inclusion in the Nasdaq Biotechnology Index, and scheduling of earnings webcasts and investor presentations. Investors, analysts, and industry observers can use this page to track the company’s own descriptions of its growth strategy, operational improvements, and relationships with biopharmaceutical and biotechnology partners.
Lifecore Biomedical announced it received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the delayed filing of its Quarterly Report on Form 10-Q for the quarter ending November 27, 2022. The company has 60 days from January 11, 2023, to submit a compliance plan, with a potential extension to July 5, 2023, if accepted. The notice does not affect the trading of Lifecore's securities. Lifecore is committed to filing the report promptly to regain compliance.
Lifecore Biomedical has successfully raised $38.75 million through a private placement of Series A convertible preferred stock to enhance its working capital and execute capital expenditures. This move coincides with the company's ongoing divestment of non-CDMO assets. Additionally, Lifecore has amended its credit facilities to boost liquidity by deferring $2.2 million in debt repayments until 2025 and relieving certain financial covenants. The company also appointed Nathaniel Calloway, PhD, and Christopher Kiper to its Board of Directors.
Lifecore Biomedical has announced a successful closing of a $5 million private placement of its common stock at $7.97 per share, with Wynnefield Capital as an investor. The funds will be utilized for capital expenditures to enhance manufacturing capacity, responding to growing demand for complex sterile injectable pharmaceuticals. President James G. Hall noted the ongoing demand for their specialized manufacturing capabilities and emphasized the importance of long-term stockholder support in achieving growth ambitions.
Lifecore Biomedical has officially completed its transition from Landec Corporation, adopting its new name and Nasdaq ticker symbol, LFCR, effective November 15, 2022. This change reflects the company's strategic focus on its contract development and manufacturing organization (CDMO) business, specializing in sterile injectable pharmaceutical products and Hyaluronic Acid. The corporate headquarters has relocated to Chaska, MN, and a new investor relations website has been launched. Leadership remains stable as the company aims for revenue and EBITDA growth.