Lifecore Biomedical, Inc. Receives Notice from Nasdaq Regarding Delayed Annual Report
18 Octubre 2023 - 3:05PM
Lifecore Biomedical, Inc. (NASDAQ: LFCR) (the “Company”) announced
today that it received a notice (“Notice”) on October 12, 2023 from
the Listing Qualifications Department of The Nasdaq Stock Market
(“Nasdaq”) stating that the Company is not in compliance with
Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) because the
Company failed to timely file its Interim Report on Form 10-Q for
the period ended August 27, 2023 (the “Form 10-Q”), and because the
Company remains delinquent in filing its Annual Report on Form 10-K
for the period ended May 28, 2023 (the “Form 10-K” and, together
with the Form 10-Q, the “Filings”) with the Securities and Exchange
Commission.
The Notice has no immediate effect on the
listing or trading of the Company’s securities on the Nasdaq Global
Select Market. In accordance with the instructions contained in the
Notice, the Company submitted a plan to regain compliance with the
Listing Rule with respect to the delinquent Filings on October 16,
2023, which is under the review of Nasdaq. If Nasdaq accepts the
Company’s plan to regain compliance, then Nasdaq may grant the
Company up to 180 calendar days from the prescribed due date of the
Form 10-K, or February 12, 2024, to file the Filings to regain
compliance.
The Company continues to work diligently to
complete the Filings and plans to file the Filings as promptly as
possible to regain compliance with the Listing Rule.
This announcement is made in compliance with
Nasdaq Listing Rule 5810(b), which requires prompt disclosure of
receipt of a deficiency notification.
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 respond in a timely and
satisfactory matter to the inquiries by Nasdaq, the Company’s
ability to regain compliance with Listing Rule, 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 Filings 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
Securities and Exchange Commission, 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.
Lifecore Biomedical, Inc. Contact
Information:Jeff Sonnek(646)
277-1263jeff.sonnek@icrinc.com
Lifecore Biomedical (NASDAQ:LFCR)
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