Core Viewpoint - Lifecore Biomedical is strategically positioned for mid-term and long-term growth, supported by its current capacity to generate up to $300 million in annual revenue through the recent installation of a high-speed 5-head filler and the sale of excess equipment [1][2]. Group 1: Financial Transactions - Lifecore has entered into a sales agreement for a high-speed, multi-purpose 10-head isolator filler, receiving an aggregate purchase price of $17 million, with $7 million received at closing and the remainder to be paid in three tranches over the next 18 months [1][2]. - The sale of the 10-head filler is viewed as a compelling opportunity to monetize unused equipment and enhance the company's financial position [2]. Group 2: Operational Capacity - The installation of the new high-speed, multi-purpose 5-head isolator filler has doubled Lifecore's available capacity, allowing the company to better serve existing and future customers [2]. - The 5-head filler is GMP-ready, and the company is currently engaging in discussions with customers to leverage its speed and aseptic isolation capabilities [2]. Group 3: Company Overview - Lifecore Biomedical is a fully integrated contract development and manufacturing organization (CDMO) specializing in the development, fill, and finish of sterile injectable pharmaceutical products, including complex formulations [3]. - The company has over 40 years of expertise in manufacturing premium, injectable-grade hyaluronic acid and partners with global and emerging biopharmaceutical and biotechnology companies [3].

CHASKA, Minn., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore”), a fully integrated contract development and manufacturing organization (“CDMO”), today announced that the company will participate at the 43rd Annual J.P. Morgan Healthcare Conference. The conference will take place January 13-16, 2025, in San Francisco, California. Details regarding Lifecore’s participation are as follows: 43rd Annual J.P. Morgan Healthcare ConferenceDetails: Lifecore management, includi ...

Lifecore Biomedical, Inc. (NASDAQ:LFCR) Q2 2025 Earnings Conference Call January 2, 2025 4:00 PM ET Company Participants Stephanie Diaz - Manager, IR Paul Josephs - President & CEO Ryan Lake - CFO Conference Call Participants Matt Hewitt - Craig-Hallum Capital Group Jacob Johnson - Stephens Michael Petusky - Barrington Research Operator Good afternoon, and thank you for joining Lifecore's Financial 2025 Second Quarter Earnings Call. During the call, all participants will be in a listen-only mode. Now I woul ...

Revenue Growth - Revenues increased by $2.0 million in HA manufacturing primarily due to higher sales volume from the largest customer[184] - CDMO revenues increased by $0.6 million, driven by $3.3 million higher sales volume from the largest customer, partially offset by $2.6 million reduction due to a customer working down inventory levels[184] Expenses and Costs - R&D expenses for the three months ended November 24, 2024 were $1.924 million, a decrease of $0.174 million (8%) compared to the prior period[177] - SG&A expenses increased by $1.777 million (19%) primarily due to $1.8 million increase in non-cash stock-based compensation expense[178] - Interest expense, net increased by $1.392 million (34%) to $5.465 million for the three months ended November 24, 2024[179] - Other expense, net decreased by $0.663 million (69%) primarily due to the end of accumulation of monetary penalties to preferred stockholders[181] Financial Liabilities and Derivatives - Change in fair value of debt derivative liability, related party decreased by $19.5 million (94%) to $1.2 million[179] Legal and Compliance - The company intends to vigorously defend against claims filed by 22NW Fund, L.P. regarding alleged material misrepresentations and breaches of the Securities Purchase Agreement[191] - The company is committed to remediating control deficiencies by adding qualified personnel, enhancing controls, and implementing a SOX Steering Committee[295][296][300] Business Relationships - The company has established long-term relationships with global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories[169]

Lifecore Biomedical Reports Second Quarter Fiscal 2025 Financial Results and Provides Corporate Update Exhibit 99.1 -- Recorded Revenues of $32.6 Million for Q2 Fiscal 2025 -- -- Signed Multiple Development Agreements with New Customers -- -- Strengthened Balance Sheet with Financing Raising Approximately $24.3 Million, and Favorable Restructuring of Credit Facility with BMO -- Conference Call Today at 4:30pm ET CHASKA, Minn., January 2, 2025 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) ("Li ...

Core Insights - Lifecore Biomedical, Inc. reported revenues of $32.6 million for Q2 Fiscal 2025, reflecting an 8% increase compared to $30.2 million in the same period last year [8][12] - The company signed multiple development agreements with new customers, enhancing its early-stage development pipeline [3][2] - Lifecore strengthened its balance sheet by raising approximately $24.3 million through equity financing and restructuring its credit facility with BMO [5][6] Financial Performance - Revenues for the six months ended November 24, 2024, were $57.3 million, a 5% increase from $54.7 million in the prior year [13] - Gross profit for Q2 was $11.1 million, up from $10.0 million year-over-year, driven by increased CDMO gross profit [9] - The company recorded a net loss of $6.6 million for Q2, compared to a net income of $14.2 million in the same period last year [12] Operational Developments - Lifecore successfully installed and qualified a high-speed, multi-purpose 5-head isolator filler, doubling its capacity and creating a potential revenue-generating capacity of up to $300 million annually [4] - The company appointed several key executives to support its growth strategy, including a new CFO and senior vice president of human resources [7] Business Development - Lifecore signed two new project agreements with Nirsum Laboratories, focusing on CDMO services for clinical development [3] - The business development team achieved significant milestones during the quarter, contributing to the overall growth strategy [2] Balance Sheet and Financing - The company completed a $24.3 million private placement of shares, enhancing its financial position [5] - Lifecore amended its revolving credit facility with BMO, resulting in a three-year extension and reduced interest rates [6]

Core Insights - Lifecore Biomedical, Inc. will report its financial results for the second quarter of fiscal year 2025 on January 2, 2025, after market close [1] - A webcast will be hosted by Lifecore's senior management team at 4:30 p.m. Eastern Time on the same day to discuss the financial results and recent corporate developments [1] Company Overview - Lifecore Biomedical is a fully integrated contract development and manufacturing organization (CDMO) specializing in the development, fill, and finish of sterile injectable pharmaceutical products, including complex formulations [3] - The company has over 40 years of expertise in manufacturing premium, injectable-grade hyaluronic acid and partners with global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories [3]

Core Insights - Lifecore Biomedical has been selected by Nirsum Laboratories to provide contract development and manufacturing organization (CDMO) services for the clinical development of NRS-033, a treatment for opioid use disorder (OUD) and alcohol use disorder (AUD) [1][2][5] - The agreement includes technology transfer and assessment of the fill and finish process for NRS-033, leveraging Lifecore's expertise in sterile injectable pharmaceutical products [1][3] - NRS-033 aims to address the high relapse rates associated with current therapies for OUD and AUD, with the potential to improve therapeutic retention for patients [3][5] Company Overview - Lifecore Biomedical is a fully integrated CDMO specializing in the development, fill, and finish of sterile injectable pharmaceutical products, including complex formulations [4] - The company has over 40 years of experience and serves global and emerging biopharmaceutical and biotechnology companies [4] - Nirsum Laboratories is a development-stage biotechnology company focused on creating curable treatments for addiction, with NRS-033 being funded in part by the NIH [5]

Company Overview - Lifecore Biomedical, Inc. is a fully integrated contract development and manufacturing organization (CDMO) specializing in the development, fill, and finish of sterile injectable pharmaceutical products [2] - The company has over 40 years of expertise in manufacturing premium, injectable-grade hyaluronic acid, serving global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories [2] Recent Developments - Lifecore hosted a virtual investor day where senior management discussed the company's business and future growth strategy [1] - The event was made accessible via a webcast, allowing investors to engage with the company's strategic direction [1]

Company Overview - Lifecore Biomedical Inc is a fully integrated contract development and manufacturing organization (CDMO) specializing in sterile injectable pharmaceutical products [3] - The company has over 40 years of expertise in manufacturing premium injectable-grade hyaluronic acid [3] - Lifecore serves global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories [3] Upcoming Event - Lifecore will host a virtual investor day on November 21 2024 from 8:00 - 9:30 am Eastern Time [1] - The event will feature discussions on the company's business and growth strategy by senior management [1] - The webcast will be available on Lifecore's investor relations website [2]