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. (symbol: LFCR) is a fully integrated contract development and manufacturing organization (CDMO) specializing in the development, filling, and finishing of complex sterile injectable pharmaceutical products in syringes and vials. The company is renowned for its expertise in manufacturing injectable-grade Hyaluronic Acid, which is utilized in a variety of medical applications, including ophthalmic, orthopedic, and oncology fields.
One of Lifecore's core strengths lies in its comprehensive capabilities that span fermentation, specialty formulation, aseptic filling, and final packaging for FDA-regulated medical devices and drugs. This makes Lifecore a preferred partner for both global and emerging biopharmaceutical and biotechnology companies, helping them bring their innovations to market with high-quality standards.
Founded as part of Landec Corporation, Lifecore has leveraged its robust technological foundation and industry expertise to achieve significant milestones. Recent financial updates indicate a strong focus on liquidity, with the company securing approximately $8 million in non-dilutive, incremental liquidity through various amendments with lenders. As of April 21, 2024, Lifecore reported total debt of $178.9 million and cash reserves of $11.0 million on a pro forma basis.
Lifecore's dedication to innovation is evident in its recent leadership transition, aiming to bolster its strategic direction under new CEO guidance. This move aligns with their efforts to enhance operational efficiency and financial management. For those looking to stay updated on the company's latest developments, Lifecore consistently disseminates news and reports, such as the recent completion of its First Quarter Fiscal 2024 Report on Form 10-Q.
For more information about Lifecore Biomedical and its services, visit their website.
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.
Lifecore Biomedical (NASDAQ: LFCR) has appointed Brikkelle Thompson as Senior Vice President of Human Resources. With nearly 25 years of HR leadership experience, including 14 years in medical technology and healthcare industries, Thompson will focus on enhancing the company's performance-driven culture and strengthening the team. Her background includes roles at Teleflex, Nonin Medical, and Medtronic, where she demonstrated expertise in building top-performing teams and implementing strategic HR initiatives.
CEO Paul Josephs emphasized the importance of corporate culture and talent in executing Lifecore's growth strategy. Thompson's appointment is seen as a strategic move to align the company's mission, values, and team towards consistent and meaningful growth. Her experience spans from small organizations to Fortune 100 companies in both public and private sectors.
Lifecore Biomedical (NASDAQ: LFCR), a contract development and manufacturing organization (CDMO), has granted equity awards to its newly hired CFO, Ryan D. Lake. The awards, approved on September 3, 2024, include:
1. A Restricted Stock Unit (RSU) award for 262,500 shares, vesting over five years.
2. A Performance Stock Unit (PSU) award for up to 750,000 shares, vesting based on stock price performance over five years.
These awards were granted as inducement equity under Nasdaq Listing Rule 5635(c)(4) and Lifecore's Equity Inducement Plan. The PSU award is tied to stock price targets ranging from $5.00 to $30.00 per share.
Lifecore Biomedical (NASDAQ: LFCR), a fully integrated contract development and manufacturing organization (CDMO), has announced its participation in the 17th Annual Barrington Research Virtual Fall Investment Conference. The event is scheduled for Thursday, September 12, 2024, and will be held virtually.
During the conference, Lifecore's management team will engage in one-on-one meetings with investors. This participation provides an opportunity for the company to connect with potential investors and discuss its operations, strategies, and future prospects in the CDMO industry.
The announcement highlights Lifecore's commitment to investor relations and its efforts to maintain open communication with the financial community. By participating in such events, the company aims to increase its visibility among investors and provide insights into its business model and growth potential.
Lifecore Biomedical (NASDAQ: LFCR) announced a significant leadership change with the appointment of Ryan Lake as the new Chief Financial Officer, effective September 3, 2024. Lake, an experienced CDMO industry financial executive, succeeds John Morberg, who is stepping down to pursue other opportunities. Lake brings valuable experience from his previous role as CFO of Societal CDMO, where he led the company's transition into a dedicated CDMO and played a key role in its strategic growth and eventual acquisition by CoreRx.
CEO Paul Josephs expressed confidence in Lake's ability to drive Lifecore's growth strategy, citing his expertise in investor relations, financial strategy, and experience in navigating complex transactions within the CDMO space. Lake's appointment is seen as a strategic move to enhance Lifecore's position in the CDMO market and drive long-term value for stakeholders.
Lifecore Biomedical (NASDAQ: LFCR) reported its fiscal year 2024 results, showing strong revenue growth of 24.2% to $128.3 million. The company's CDMO business grew 27%, while its HA raw material manufacturing increased 18%. Gross profit rose 49.5% to $41.9 million, with margin expanding to 32.6%.
Key highlights include:
- Net income from continuing operations of $9.3 million, compared to a loss of $64.2 million in FY2023
- Adjusted EBITDA increased 82.2% to $20.2 million
- New 5-head isolator filler expected to be GMP-ready in September 2024
For fiscal 2025, Lifecore projects revenue between $126.5-$130 million and Adjusted EBITDA of $19-$21 million.
FAQ
What is the current stock price of Lifecore Biomedical (LFCR)?
What is the market cap of Lifecore Biomedical (LFCR)?
What does Lifecore Biomedical, Inc. specialize in?
Who are Lifecore Biomedical's primary clients?
What recent financial update did Lifecore Biomedical release?
What significant change happened in Lifecore's leadership?
What are the two primary product categories Lifecore recognizes revenue from?
How long has Lifecore been operating in the CDMO sector?
What type of technological capabilities does Lifecore offer?
Where can I find more information about Lifecore Biomedical?
What strategic benefits does the recent liquidity update provide Lifecore?
What is the symbol for Lifecore Biomedical's common stock?
