SAN DIEGO, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Lifecore Biomedical, Inc. (NASDAQ: LFCR) securities between October 7, 2020 and March 19, 2024. Lifecore operates as an integrated contract development and manufacturing organization in the U.S. and internationally. The Company purportedly designs, develops, manufactures, and sells differentiated products for biomateria ...

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Sept. 09, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Lifecore Biomedical, Inc. ("Lifecore" or the "Company") (NASDAQ: LFCR) investors of a class action representing investors that bought securities between October 7, 2020 and March 19, 2024, inclusive (the "Class Period"). Lifecore investors have until September 27, 2024 to file a lead plaintiff motion. Investors are encouraged to contact attorn ...

CHASKA, Minn., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) ("Lifecore" or the "Company"), a fully integrated contract development and manufacturing organization ("CDMO"), today announced that the Company will participate in the upcoming 17th Annual Barrington Research Virtual Fall Investment Conference. Lifecore management will participate in 1-on-1 investor meetings during the event, which is scheduled to take place virtually on Thursday, September 12, 2024. About Lifecore B ...

Financial Data and Key Metrics Changes - Lifecore Biomedical reported total revenues of $128.3 million for fiscal year 2024, representing a 24.2% increase compared to fiscal year 2023 [4][8] - Gross profit for the full year increased by 49.5% to $41.9 million, resulting in a gross margin of 32.6%, up from 27.1% in the prior year [10] - Adjusted EBITDA for fiscal year 2024 increased by $9.1 million or 82%, reaching $20.2 million, with an adjusted EBITDA margin of 15.8%, marking a 5.1 percentage point increase over the prior year [10][11] Business Line Data and Key Metrics Changes - The hyaluronic acid (HA) raw material manufacturing business saw a revenue increase of 17.7%, while the CDMO business experienced a 26.5% increase [9] - The growth in HA manufacturing revenue was primarily driven by higher demand, while CDMO revenue growth was attributed to new product commercialization, increased demand from existing customers, and price increases from amended agreements [9] Market Data and Key Metrics Changes - The company anticipates a flat revenue outlook for fiscal year 2025, with guidance in the range of $126.5 million to $130 million, reflecting a growth rate of -1.4% to +1.4% [13][14] - Factors influencing this outlook include a key customer reducing inventory and a small commercial customer moving production in-house, which will not repeat in fiscal year 2025 [14] Company Strategy and Development Direction - The company aims to maximize its base business and customers, advance its development portfolio towards commercialization, and aggressively add new programs to its pipeline [23][24][25] - Lifecore is focusing on operational efficiencies and has conducted a comprehensive review of its operations, leading to a reduction in workforce to align with current business needs [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth potential despite anticipated slower revenue growth in fiscal year 2025, with expectations for improved revenue growth and margins beyond this period [15][27] - The CEO emphasized the importance of executing the strategic plan with precision and conviction to capitalize on growth opportunities [21] Other Important Information - The company has resolved its accounting issues and is now current with all SEC filings, allowing it to refocus on business operations [21] - Lifecore expects to incur restructuring and reorganization costs of approximately $5.5 million to $6.5 million in fiscal year 2025 [12] Q&A Session Summary Question: Current projects and development pipeline - Management confirmed that while some programs were removed from forward-looking projections, the overall development pipeline remains strong and robust [29] Question: Addressing revenue headwinds - Management acknowledged the loss of a specific customer and expressed confidence in the remaining commercial revenue, anticipating contributions from the business development team for new programs [30] Question: Medium-term outlook and growth expectations - Management refrained from providing specific guidance beyond fiscal year 2025 but expressed strong confidence in participating favorably in the growing injectable market [32] Question: EBITDA margins and impact of workforce reduction - Management indicated that while gross profit margins are expected to decline due to revenue mix, the reduction in workforce will help maintain overall flat margins, with expectations for improvement over time [34]

-- Recorded Revenues of $128.3 million for Fiscal 2024; Year-Over-Year Increase of 24.2% -- -- High Value Pipeline Continues to Advance Toward Commercialization -- -- State-of-the-Art Technology Enhancements to Expand Capacity and New Business Opportunities – Conference Call Tomorrow Morning at 8:30 a.m. ET CHASKA, Minn., Aug. 26, 2024 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) ("Lifecore" or the "Company"), a fully integrated contract development and manufacturing organization ("CDMO"), t ...

SAN DIEGO, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Lifecore Biomedical, Inc. (NASDAQ: LFCR) securities between October 7, 2020 and March 19, 2024. Lifecore operates as an integrated contract development and manufacturing organization in the U.S. and internationally. The Company purportedly designs, develops, manufactures, and sells differentiated products for biomaterial ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Lifecore To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $75,000 in Lifecore between October 7, 2020 and March 19, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Aug. 22, 2024 (GLOBE N ...

SAN DIEGO, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Lifecore Biomedical, Inc. (NASDAQ: LFCR) securities between October 7, 2020 and March 19, 2024. Lifecore operates as an integrated contract development and manufacturing organization in the U.S. and internationally. The Company purportedly designs, develops, manufactures, and sells differentiated products for biomaterial ...

Core Viewpoint - Lifecore Biomedical, Inc. is facing a class action lawsuit due to alleged false and misleading statements regarding its financial reporting and internal controls during the class period from October 7, 2020, to March 19, 2024 [1][5]. Group 1: Class Action Details - The Rosen Law Firm is reminding investors who purchased Lifecore securities during the class period of the September 27, 2024, deadline to become a lead plaintiff in the class action [1][3]. - Investors may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by contacting the Rosen Law Firm [3][6]. Group 2: Allegations Against Lifecore - The lawsuit claims that Lifecore had deficient internal controls over financial reporting, leading to inaccurate financial statements that required restatement [5]. - It is alleged that Lifecore's remediation efforts regarding these deficiencies were ineffective, impairing its ability to file periodic reports with the SEC in compliance with NASDAQ requirements [5]. - The lawsuit asserts that Lifecore's financial position and prospects were materially overstated, resulting in misleading public statements [5]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company and being ranked No. 1 for securities class action settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4]. - Founding partner Laurence Rosen has been recognized as a leading figure in the plaintiffs' bar, enhancing the firm's credibility in handling such cases [4].

NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Lifecore Biomedical, Inc. (NASDAQ: LFCR) between October 7, 2020 and March 19, 2024, both dates inclusive (the "Class Period"), of the important September 27, 2024 lead plaintiff deadline. SO WHAT: If you purchased Lifecore securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arra ...