Lifecore Biomedical, Inc. Receives Notice from Nasdaq Regarding Delayed Quarterly Report
12 Enero 2024 - 3:43PM
Lifecore Biomedical, Inc. (NASDAQ: LFCR) (the “Company”) announced
today that it received a notice (“Notice”) on January 10, 2024 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 November 29, 2023 (the “Q2 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 its Quarterly Report on Form 10-Q for the fiscal quarter ended
August 27, 2023 (the “Q1 Form 10-Q” and, together with the Form
10-K and the Q2 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 common stock on the Nasdaq
Global Select Market. On October 16, 2023, the Company submitted to
Nasdaq its compliance plan (the “Compliance Plan”) with respect to
the filing of the Form 10-K and Q1 Form 10-Q, which was approved by
Nasdaq, granting the Company until February 12, 2024 (the
“Exception Period”) to file the Form 10-K and Q1 Form 10-Q to
regain compliance with the Listing Rule. In accordance with the
instructions contained in the Notice, the Company plans to submit
an update to the Compliance Plan on or prior to January 25, 2024
addressing its plans to file the Q2 Form 10-Q and regain compliance
under the Listing Rule prior to the expiration of the Exception
Period.
The Company continues to work diligently to
complete the Filings and intends to file the Filings as promptly as
possible to regain compliance under the Listing Rule, although
there can be no assurances the Company will be able to complete the
Filings and regain compliance under the Listing Rule prior to the
expiration of the Exception Period.
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 Statements This 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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