LIFECORE BIOMEDICAL, INC. DE

Lifecore Biomedical, Inc. reported a widened net loss for the second quarter of 2026, reaching $(6.16) million, up from $(1.15) million in the prior year. Total revenues for the quarter decreased to $34.17 million. Despite the challenging financial performance, the company announced positive developments regarding legal matters, including the conclusion of an SEC investigation with no action taken and preliminary court approval for a class action lawsuit settlement. The company's total liabilities increased to $213.41 million as of June 30, 2026.

Lifecore Biomedical reported Q2 2026 revenues of $34.2 million, a 6.2% decrease year-over-year, and a net loss of $6.2 million, or $0.19 per diluted share. Adjusted EBITDA for the quarter was $8.6 million, down from $9.1 million in the comparable prior year quarter. Despite the financial declines, the company reaffirmed its full-year 2026 revenue guidance of $120 million to $125 million and Adjusted EBITDA guidance of $20.5 million to $25 million, citing multiple new business wins and ongoing cost reduction efforts.

Lifecore Biomedical, Inc. announced it will report financial results for the second quarter ended June 30, 2026, on Wednesday, August 5, 2026, before the market opens. Following the release, senior management will host a webcast at 8:00 a.m. Eastern Time to discuss the results. The webcast will be accessible via the company's investor relations website, with an archived version available for 30 days.

Lifecore Biomedical, Inc. announced it has signed three new customer agreements, significantly expanding its pipeline of early- and late-stage programs. These agreements include a late-stage development program in regenerative medicine and two early-stage programs, one with a global medical technology company. The company expects these new programs to generate near-term development revenue and contribute to its 2028 revenue, positioning Lifecore for future growth in high-growth markets.

Lifecore Biomedical, Inc. announced the grant of a Restricted Stock Unit (RSU) award for 3,500 shares of its common stock to a newly hired employee on July 13, 2026. This award was made under Lifecore’s Equity Inducement Plan and serves as a material inducement for the employee to join the company. The RSUs are set to vest on the third anniversary of the grant date, subject to continued employment, and were approved by the compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4).

Lifecore Biomedical, Inc. announced it received redemption notices for all 49,263 outstanding shares of its Series A Redeemable Convertible Preferred Stock between June 29 and June 30, 2026. The total redemption amount, including accrued dividends, is approximately $52.1 million, due by December 28, 2026. As of March 31, 2026, the company had $38.1 million in total liquidity, comprising $20.8 million in cash and $17.3 million in revolving credit facility availability. The company is evaluating strategic alternatives, including financing options and seeking lender consent, to facilitate the redemption.

Lifecore Biomedical announced a new agreement with a global pharmaceutical company for technical transfer and commercial manufacturing of an injectable suspension product for neurological disorders. This significant win marks the seventh late-stage program agreement for Lifecore in the past seven months, demonstrating strong business development momentum. The agreement underscores confidence in Lifecore's technical expertise in producing higher-viscosity and complex pharmaceutical products, positioning them as a valuable partner for multinational pharmaceutical companies.

Lifecore Biomedical, Inc. stockholders approved the 2026 Stock Incentive Plan at the annual meeting on June 4, 2026. This plan authorizes the issuance of 2,500,000 shares of Common Stock and will become effective on October 16, 2026, replacing the 2019 Plan. Additionally, stockholders elected nine directors, ratified KPMG LLP as the independent auditor for 2026, and approved the non-binding advisory proposal on executive compensation.

Lifecore Biomedical, Inc. announced a new manufacturing services agreement with a leading provider of ophthalmic disease management solutions. The agreement entails process development and technical transfer services, preparing for potential commercial manufacturing of an injectable ophthalmic product following regulatory approval. This program, which involves reformulating a commercially approved product into pre-filled syringes, marks the sixth addition to Lifecore's late-stage pipeline in seven months, strengthening its growth strategy.

Lifecore Biomedical, Inc. announced its participation in the William Blair 46th Annual Growth Stock Conference, scheduled for June 2-4, 2026, in Chicago, IL. CEO Paul Josephs and CFO Ryan Lake will represent the company and engage in investor meetings. This event allows Lifecore to connect with the investment community.