Lifecore Biomedical Provides Update for Development Portfolio and Timing of Delayed Filings
10 Octobre 2023 - 10:05PM
Lifecore Biomedical, Inc. (“Lifecore” or the “Company”), a fully
integrated contract development and manufacturing organization
(“CDMO”), today provided an update on its delayed filings. The
Company anticipates reporting its Fiscal 2024 First Quarter results
in late October or early November, pending completion of its annual
audit, and will make a formal announcement via press release once
the date is established.
The Company continued to advance its commercial
development portfolio during the fiscal first quarter ended August
2023, adding two additional projects for a total of 31 projects in
development and increasing its development opportunity pipeline by
14 to 58. As of the date hereof, the Company believes it has
adequate cash and other available financial resources, including
its availability under the revolving credit facility, to fund its
operations through fiscal 2024.
Lifecore continues to work on completing its
Annual Report on Form 10-K for the fiscal year ended May 28, 2023
(the “2023 Form 10-K”), which has been delayed due to compiling and
analyzing of supporting documentation related to the accounting for
certain recent non-routine corporate transactions occurring during
the fourth quarter 2023 stemming from its asset dispositions and
comprehensive debt refinancing. Today, the Company filed Form NT
10-Q related to its inability to complete the filing of its
Quarterly Report on Form 10-Q for the period ended August 27, 2023
(the “2024 First Quarter Form 10-Q”) in a timely manner due to the
ongoing delay in completing its Form 10-K, which delay could not be
eliminated by the Company without unreasonable effort and expense.
In accordance with Rule 12b-25 of the Securities Exchange Act of
1934, as amended, the Company will file its 2023 Form 10-K and 2024
First Quarter Form 10-Q as soon as practicable.
About Lifecore Biomedical
Lifecore Biomedical, Inc. is a fully integrated
contract development and manufacturing organization (CDMO) that
offers highly differentiated capabilities in the development, fill
and finish of complex sterile injectable pharmaceutical products in
syringes and vials. As a leading manufacturer of premium,
injectable grade Hyaluronic Acid, Lifecore brings more than 40
years of expertise as a partner for global and emerging
biopharmaceutical and biotechnology companies across multiple
therapeutic categories to bring their innovations to market. For
more information about the Company, visit Lifecore’s website at
www.lifecore.com.
Important Cautions Regarding
Forward-Looking StatementsThis press release contains
forward-looking statements regarding future events and our future
results that are subject to the safe harbor created under the
Private Securities Litigation Reform Act of 1995 and other safe
harbors under the Securities Act of 1933 and the Securities
Exchange Act of 1934. Words such as “anticipate”, “estimate”,
“expect”, “project”, “plan”, “intend”, “believe”, “may”, “might”,
“will”, “should”, “can have”, “likely” and similar expressions are
used to identify forward-looking statements. All forward-looking
statements involve certain risks and uncertainties that could cause
actual results to differ materially, including such factors among
others, as the Company’s ability to become current with its reports
with the Securities and Exchange Commission (the “SEC”) and the
risk that the completion and filing of the 2023 Form 10-K and 2024
First Quarter Form 10-Q will take longer than expected. For
additional information about factors that could cause actual
results to differ materially from those described in the
forward-looking statements, please refer to our filings with the
SEC, including the risk factors contained in our most recent
Quarterly Report on Form 10-Q and Annual Report on Form 10-K/A.
Forward-looking statements represent management’s current
expectations and are inherently uncertain. Except as required by
law, we do not undertake any obligation to update forward-looking
statements made by us to reflect subsequent events or
circumstances.
Contact Information:
Investor RelationsJeff Sonnek(646)
277-1263jeff.sonnek@icrinc.com
Lifecore Biomedical (NASDAQ:LFCR)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Lifecore Biomedical (NASDAQ:LFCR)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024