If you suffered substantial losses and wish to serve as lead plaintiff of the Lifecore Biomedical class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449- 4900 or via e-mail at info@rgrdlaw.com. The Lifecore Biomedical class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Lifecore Biomedical maintained defi ...

About Lifecore Biomedical The RSU award will vest and be settled as to 25,000 shares of the RSU on May 20, 2024 and as to 100,000 shares of the RSU on each of the first five anniversaries of May 20, 2024 and is governed by a Restricted Stock Unit Award Agreement and the Inducement Plan. The PSU award will vest, if at all, based upon the Performance Price achievement within the five year performance period as compared to a range of ten prices from $7.50 per share to $35.00 per share. The Performance Price is ...

On May 10, 2024, the Company also entered into the Seventh Amendment to the ABL Loan Agreement with its ABL lender to execute a "first-in, last-out" tranche of revolving loans under the ABL Loan Agreement (the "FILO Amendment"). While not increasing the overall revolver commitment of $40 million, the FILO Amendment provides for up to approximately $2.5 million of incremental revolving loan capacity to the Company, subject to a variable cap, without changing the collateral. In connection with the FILO Amendm ...

CHASKA, Minn., May 16, 2024 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) ("Lifecore" or the "Company"), a fully integrated contract development and manufacturing organization ("CDMO"), announced certain incremental liquidity measures and housekeeping matters related to divested businesses through a series of 8-K filings over the past week. James G. Hall, President and Chief Executive Officer of Lifecore, commented, "We believe these incremental liquidity improvements will provide Lifecore wi ...

2 Investor Present April 2024 Important Information Regarding Forward-Looking St This presentation contains forward-looking statements regarding future events and the future results of Lifecore Biom‹ "Company") that are subject to the safe harbor created under the Private Securities Litigation Reform Act of 1995 and ot the Securities Act of 1933 and the Securities Exchange Act of 1934. Words such as "anticipate", "estimate", "expect", "pro "believe", "may", "might", "will", "should", "can have", "likely" an ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended May 28, 2023, or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from _________ to _________. Commission file number: 000-27446 LIFECORE BIOMEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 94-3025618 ( ...

Lifecore Biomedical, Inc. (NASDAQ:LFCR) Q4 2023 Results Conference Call August 31, 2023 8:30 AM ET Company Participants Jeff Sonnek - IR-ICR Jim Hall - President, CEO John Morberg - CFO Operator Good morning, and thank you for joining Lifecore's Fiscal 2023 Fourth Quarter Earnings Call. [Operator Instructions]. Now I'd like to turn the call over to Jeff Sonnek, Investor Relations at ICR. Jeff Sonnek Good morning, and thank you for joining us today to discuss Lifecore Biomedical's Fourth Quarter and Full Yea ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Quarter Ended February 26, 2023, or For the Transition period for _________ to _________. Commission file number: 000-27446 LIFECORE BIOMEDICAL, INC. Delaware 94-3025618 (State or other jurisdiction of incorporation ...

Financial Data and Key Metrics Changes - Lifecore segment revenue for Q3 2023 decreased by 24% to $26.3 million, driven by a 28% decrease in the CDMO business and a 15% decrease in HA raw material manufacturing [51] - Lifecore segment gross profit decreased by $6.8 million to $6.1 million, resulting in a gross margin of 23.1%, down from 37.1% in the prior year [52] - Adjusted EBITDA for the Lifecore segment was $3 million for Q3 2023, representing an adjusted EBITDA margin of 11.6% [40] Business Line Data and Key Metrics Changes - The decrease in CDMO revenue was primarily due to a shift in the timing of scaled-up processes for commercial products and a higher mix of earlier-stage projects with lower net revenue [51] - The HA raw material manufacturing revenue decline was attributed to the timing of customer shipments compared to the prior year [22] - The corporate and other segment reported an adjusted EBITDA of approximately negative $2 million for Q3, which was slightly above expectations [41] Market Data and Key Metrics Changes - Lifecore is the only manufacturer of pharmaceutical injectable-grade HA with CDMO expertise in the market, with approximately 55% of all new drug applications being injectables [30] - The demand for prefilled syringes is growing at an estimated 13% compound annual rate [30] Company Strategy and Development Direction - Lifecore is focused on becoming a standalone CDMO following the divestment of the Curation Foods segment and is exploring strategic alternatives to maximize shareholder value [6] - The company aims to leverage its unique expertise and ongoing industry trends towards outsourcing new drug development to expand its growth opportunities [31] - Lifecore has entered into a significant supply agreement with Alcon, which has the potential to increase HA raw material manufacturing by approximately 70% over the next several years [33] Management's Comments on Operating Environment and Future Outlook - Management expects a sequential improvement in Q4 2023, the largest quarter of the year, due to the shift in project timing and an improved revenue mix [24] - The company anticipates returning to more normalized revenue and adjusted EBITDA levels realized in fiscal year 2022, reflecting substantial growth over fiscal year 2023 results [54] - Lifecore is well positioned for significant growth ahead, with a strong foundation and ongoing investments in commercial capabilities [48] Other Important Information - The company incurred $8.9 million in restructuring and non-recurring charges in Q3 due to divestment and refinancing activities [42] - CapEx for Q3 was $6.3 million, focused on supporting long-term growth initiatives, including two multiuse isolator fillers [43] - Lifecore's net bank debt decreased to $120 million from $143.7 million at the end of fiscal 2022, following refinancing efforts [25] Q&A Session Summary - The company did not conduct a live Q&A session during the call due to ongoing exploration of strategic alternatives [5]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Quarter Ended November 27, 2022, or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period for _________ to _________. Commission file number: 000-27446 LIFECORE BIOMEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 94 ...