Lifecore Biomedical, Inc. - LFCR STOCK NEWS

Lifecore Biomedical (NASDAQ: LFCR) has announced key leadership changes with the appointment of Thomas Guldager as Vice President of Operations and Jackie Klecker as Executive Vice President of Quality and Development Services. This organizational restructuring separates operations and quality functions to support the company's growth strategy. Guldager brings 20 years of pharmaceutical industry experience, most recently from Xellia Pharmaceuticals. The company has recently doubled its capacity through a new 5-head isolator filler installation. Klecker, with over 30 years of industry experience and 16 years at Lifecore, will focus on maintaining the company's 40+ year regulatory track record and quality management system.

Lifecore Biomedical (NASDAQ: LFCR) reported Q1 fiscal 2025 financial results and provided a corporate update. Key highlights include:

1. Revenues of $24.7 million for Q1 fiscal 2025

2. Installation of a 5-head isolator filler, more than doubling capacity and increasing revenue generating potential to up to $300 million annually

3. Successful closing of financing, raising approximately $24.3 million

4. Signing of multiple new business agreements with new and existing customers

5. Reaffirmation of fiscal year 2025 guidance for both revenue and Adjusted EBITDA

6. Net loss of $16.2 million or $0.53 per diluted share for Q1

7. Adjusted EBITDA of $(1.8) million for Q1

The company aims to focus on maximizing existing business, advancing its development pipeline, and pursuing new business opportunities.

Lifecore Biomedical, a fully integrated CDMO, has successfully closed a $24.3 million private placement of common stock. The company issued 5,928,775 shares at $4.10 per share to new and existing investors. Lifecore plans to use the proceeds for working capital, operations, and general corporate purposes.

Paul Josephs, president and CEO of Lifecore, expressed satisfaction with the investors' confidence, viewing it as support for the new management team, value creation plan, and market opportunities. The common stock was issued under an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 and is not registered for public sale in the United States.

Lifecore Biomedical (NASDAQ: LFCR), a fully integrated contract development and manufacturing organization (CDMO), has announced that it will release its financial results for the first quarter of fiscal year 2025 on Friday, October 4, 2024, before the market opens. The company will also host a webcast at 8:30 a.m. Eastern Time on the same day.

During the webcast, Lifecore's senior management team will discuss the quarterly financial results and provide an update on recent corporate developments. Investors and interested parties can access the live webcast or archived version through the Investor Events & Presentations page on Lifecore's website at https://ir.lifecore.com/events-presentations.

Lifecore Biomedical (NASDAQ: LFCR) has been selected by Lindy Biosciences as their preferred CDMO to support process development and commercial scale-up for their innovative microglassification formulation technology. The multi-year agreement could potentially bring in over $5 million in revenue for Lifecore. Lindy's technology aims to transform biologic therapeutics delivery from intravenous to subcutaneous self-administration, enabling higher concentration doses.

Lifecore was chosen after a competitive process due to their expertise in sterile injectable pharmaceuticals and complex formulations. This partnership positions Lifecore as a key player in the manufacture and fill/finish of next-generation biotherapeutic formulations, potentially benefiting patients worldwide.

Lifecore Biomedical (NASDAQ: LFCR), a fully integrated CDMO, has announced its participation in four upcoming industry events. These include:

• The Medical Aesthetic Injectable Summit 2024 in Marbella, Spain (Oct 4-5), where Darren Hieber will join a roundtable on Filler Raw Materials.
• CPHI Worldwide 2024 in Milan, Italy (Oct 8-10).
• The 21st Annual Parenteral Drug Association Universe of Pre-Filled Syringes and Injection Devices Conference in Phoenix, AZ (Oct 22-23).
• The 14th Annual Partnership Opportunities in Drug Delivery Conference in Boston, MA (Oct 28-29), featuring a presentation by Ryan Swanson on avoiding injectables pitfalls.

At these events, Lifecore will engage in business development activities, host booth meetings, and interact with existing and prospective customers and partners.

Lifecore Biomedical (NASDAQ: LFCR) has announced that its new high-speed, multi-purpose 5-head isolator filler is now GMP-ready and operational. This state-of-the-art technology more than doubles the company's current capacity for fill/finish services of prefilled syringes, vials, and cartridges. The system offers enhanced speed and aseptic isolation required for the latest sterile injectable pharmaceutical and biopharmaceutical products.

The new filler positions Lifecore to meet increased industry controls, such as the EU's Annex 1 requirements, while providing operational efficiencies. It is expected to improve Lifecore's leadership in handling complex formulations and help diversify its customer base by supporting projects for less viscous and less complex protein, peptide, and antibody products.

Lifecore Biomedical (NASDAQ: LFCR), a fully integrated contract development and manufacturing organization (CDMO), has announced its participation in the upcoming Craig-Hallum Bioprocessing Conference on September 19, 2024. The event will be held virtually, featuring a fireside chat with Lifecore's leadership:

- Paul Josephs, President and CEO
- Ryan Lake, CFO

The fireside chat is scheduled for 3:30 p.m. Eastern on September 19. In addition to the chat, the executives will participate in one-on-one meetings during the conference. A webcast replay of the fireside chat will be made available on Lifecore's investor website following the event.

Lifecore Biomedical (NASDAQ: LFCR) has announced that it has regained compliance with Nasdaq listing requirements. The company received written notice from the Nasdaq Listing Qualifications Department confirming its compliance with Rule 5250(c), which requires timely filing of periodic financial reports, and Rule 5620(a), which mandates annual stockholder meetings. As a result, Nasdaq has ceased any delisting actions against Lifecore's common stock.

However, Lifecore will be subject to a Mandatory Panel Monitor until September 4, 2025. During this period, if the company fails to comply with Rule 5250(c) again, it will not be allowed to provide a compliance plan or receive a cure period. Instead, Nasdaq would issue a delisting determination letter, after which Lifecore could request a new hearing with a Hearing Panel.