STOCK TITAN
  1. Home
  2. News
  3. LFCR

Lifecore Biomedical, Inc. - LFCR STOCK NEWS

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.

News

Lifecore Biomedical Announces Pending Change of Auditor and Provides Expectation for Business Update

Rhea-AI Summary
Lifecore Biomedical, Inc. (LFCR) announced Ernst & Young LLP's decision not to stand for reappointment as the Company's independent registered public accounting firm for the fiscal year ending May 26, 2024. The board of directors has started a search for a replacement. Lifecore also plans to provide a business update on April 1, 2024, including financial data for fiscal year 2024 and commercial business updates.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.19%
Tags
none
-
News

Lifecore Biomedical Concludes Strategic Evaluation Process, Announces Management Succession and Board Changes

Rhea-AI Summary
Lifecore Biomedical, Inc. appoints Paul Josephs as the new CEO, concludes strategic review, and announces operational updates. The Board of Directors decides to continue with the standalone strategic plan after evaluating various alternatives.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-30.32%
Tags
none
-
News

Lifecore Biomedical Completes Restatements and Files Form 10-K for Fiscal Year 2023

Rhea-AI Summary
Lifecore Biomedical, Inc. (NASDAQ: LFCR) filed its Annual Report on Form 10-K for FY23 with the SEC, restating financial statements for FY22 and FY21. The restatements corrected errors in capitalized interest, inventory valuation, and other adjustments. Notable adjustments include write-downs of inventories, recording reserves for excess and obsolete inventories, and adjustments to revenues and cost of sales. The Company also provided supplemental financial data for its Lifecore business to aid investors in analyzing restated financials.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-30.32%
Tags
earnings
News

Lifecore Biomedical, Inc. Announces Receipt of Nasdaq Notice of Delisting and Intention to Appeal

Rhea-AI Summary
Lifecore Biomedical, Inc. (NASDAQ: LFCR) faces potential delisting from Nasdaq due to non-compliance with filing financial reports. The company received a Staff Delisting Determination but has the opportunity to appeal and seek a stay of any delisting action. Lifecore Biomedical is working to complete the restatement of its financial statements and file the overdue reports to regain compliance with Nasdaq's Listing Rule.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.95%
Tags
none
-
News

Lifecore Biomedical, Inc. Receives Notice from Nasdaq Regarding Delayed Quarterly Report

Rhea-AI Summary
Lifecore Biomedical, Inc. (LFCR) received a notice from Nasdaq stating that it is not in compliance with listing rules due to delayed filings of financial reports. The company has been granted an exception period until February 12, 2024, to regain compliance. Lifecore Biomedical is working diligently to complete the filings and intends to file them as promptly as possible.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.6%
Tags
none
-
News

Lifecore Biomedical Expands Relationship with Existing Long-Term Customer Through a Series of Commercial Arrangements

Rhea-AI Summary
Lifecore Biomedical, Inc. (NASDAQ: LFCR) has finalized updated commercial arrangements with long-term customer Alcon, including an 8-year extension of its contract manufacturing agreement, an amendment to its Hyaluronic Acid supply agreement, and a new Storage Services Agreement. The company also received a limited waiver and amendment to its credit agreements with Alcon and BMO, providing additional financial flexibility. Lifecore continues to work on becoming current on its periodic reports, including completing the filing of its Annual Report on Form 10-K for the fiscal year ended May 28, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
12.5%
Tags
none
News

Lifecore Biomedical Provides Business Update

Rhea-AI Summary
Lifecore Biomedical, Inc. (NASDAQ: LFCR) provided a business update, indicating progress towards completing its Annual Report on Form 10-K for the fiscal year ended May 28, 2023. The Company is actively working on its development portfolio, with 32 projects in development and a pipeline across pre-clinical through late-phase of development. Lifecore is also evaluating potential strategic alternatives, with no set timetable for completion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.69%
Tags
none
-
News

Company Reaches Favorable Resolution Regarding Previously-Disclosed Investigation of Formerly-Held Subsidiary Yucatan Foods

Rhea-AI Summary
Lifecore Biomedical, Inc. (NASDAQ: LFCR) announced that the U.S. Department of Justice has declined to prosecute the company for violations of the Foreign Corrupt Practices Act involving its former subsidiary, Yucatan Foods L.P. The company has agreed to pay disgorgement of $406,505 and continue cooperating with ongoing investigations and potential future prosecutions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
News

Lifecore Biomedical, Inc. Receives Notice from Nasdaq Regarding Delayed Annual Report

Rhea-AI Summary
Lifecore Biomedical, Inc. receives notice of non-compliance with Nasdaq listing rule
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.99%
Tags
none
News

SHL Medical and Lifecore Biomedical enter co-marketing partnership agreement

Rhea-AI Summary
SHL Medical enters co-marketing partnership with Lifecore Biomedical
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.41%
Tags
partnership

FAQ

What is the current stock price of Lifecore Biomedical (LFCR)?

The current stock price of Lifecore Biomedical (LFCR) is $6.02 as of February 5, 2025.

What is the market cap of Lifecore Biomedical (LFCR)?

The market cap of Lifecore Biomedical (LFCR) is approximately 221.6M.

What does Lifecore Biomedical, Inc. specialize in?

Lifecore Biomedical specializes in the development, filling, and finishing of complex sterile injectable pharmaceutical products, including injectable-grade Hyaluronic Acid.

Who are Lifecore Biomedical's primary clients?

Lifecore partners with global and emerging biopharmaceutical and biotechnology companies, serving multiple therapeutic categories such as ophthalmic, orthopedic, and oncology.

What recent financial update did Lifecore Biomedical release?

Lifecore secured approximately $8 million in non-dilutive, incremental liquidity through amendments with lenders, resulting in $178.9 million in total debt and $11.0 million in cash as of April 21, 2024.

What significant change happened in Lifecore's leadership?

Lifecore commenced a leadership transition by appointing a new CEO to guide their strategic direction and enhance operational efficiency.

What are the two primary product categories Lifecore recognizes revenue from?

Lifecore recognizes revenue from two primary product categories: CDMO services and fermentation.

How long has Lifecore been operating in the CDMO sector?

Lifecore Biomedical has over 40 years of expertise as a CDMO partner, supporting biopharmaceutical and biotechnology companies.

What type of technological capabilities does Lifecore offer?

Lifecore offers comprehensive capabilities including fermentation, specialty formulation, aseptic filling, and final packaging for FDA-regulated products.

Where can I find more information about Lifecore Biomedical?

For more information, you can visit Lifecore Biomedical's official website at www.lifecore.com.

What strategic benefits does the recent liquidity update provide Lifecore?

The liquidity update provides Lifecore with additional financial flexibility to support ongoing operations and future growth initiatives.

What is the symbol for Lifecore Biomedical's common stock?

Lifecore Biomedical's common stock is traded under the symbol LFCR.
Stock LFCR logo
Lifecore Biomedical, Inc.

Nasdaq:LFCR

LFCR Rankings

#3848 Ranked by Market Cap
N/A Ranked by Dividends

LFCR Stock Data

221.60M
35.06M
5.44%
69.84%
6.39%
Drug Manufacturers - Specialty & Generic
Pharmaceutical Preparations
Link
United States of America
CHASKA