Recent Updates — LFCR
The Board of Directors established November 4, 2026 as the record date for a special stockholder meeting. The meeting will seek approval of the Agreement and Plan of Merger previously entered into on September 27, 2026, with Lifecore Inc. and Hazel Merger Sub, Inc. A preliminary proxy statement will be filed with the SEC to provide further details regarding the transaction. Lifecore Biomedical operates in the medical device industry, specializing in hemostasis and tissue repair solutions.
On September 24, 2026, Lifecore Biomedical, Inc.'s subsidiary entered into Amendment No. 3 to its Contract Manufacturing Agreement with Alcon Research, LLC, effective November 1, 2026. The amendment extends the agreement's initial term from December 31, 2031, to December 31, 2034, with automatic 24-month renewals thereafter. It also establishes Alcon’s minimum purchase obligations and Lifecore’s supply commitments through 2034. Additionally, Lifecore agreed not to enter into new agreements developing or manufacturing products that directly compete with certain Alcon products starting November 1, 2026, while retaining rights under pre-existing contracts. This company operates in the medical device industry, specifically focusing on biomaterials and contract manufacturing for healthcare applications.
On September 27, 2026, Lifecore Biomedical entered into a definitive merger agreement with an affiliate of Webster Equity Partners. Under the terms, common stockholders will receive $6.28 per share in cash plus one contingent value right (CVR) per share. The transaction is valued at up to approximately $663.7 million, assuming full achievement of performance milestones totaling $160 million across 2028–2030. Webster has secured $400 million in equity financing and $180 million in debt commitments to fund the acquisition. The deal requires stockholder approval and regulatory clearance under the Hart-Scott-Rodino Act, with a closing expected by the end of Q4 2026. Lifecore operates as a fully integrated contract development and manufacturing organization (CDMO) specializing in sterile injectable pharmaceutical products.
Lifecore Biomedical reported second quarter 2026 revenues of $34.2 million, a 6.2% decrease from the prior year period, and a net loss of $6.2 million ($0.19 per diluted share). For the six months ended June 30, 2026, revenues were $57.4 million, down 19.9%, with a net loss of $21.1 million ($0.61 per diluted share). Adjusted EBITDA was $8.6 million for the quarter and $9.6 million for the six-month period. The company reaffirmed its full-year 2026 revenue guidance of $120–$125 million and Adjusted EBITDA guidance of $20.5–$25 million. Lifecore added 13 new programs to its pipeline over the last 12 months, including eight late-stage projects, and ended the quarter with approximately $38.8 million in liquidity. The company operates as a fully integrated contract development and manufacturing organization (CDMO) specializing in sterile injectable pharmaceuticals and hyaluronic acid.
Lifecore Biomedical, Inc. announced that holders of all 49,263 outstanding shares of Series A Redeemable Convertible Preferred Stock received redemption notices, requiring a total payment of approximately $52.1 million. The company must pay the redemption amounts 180 days after notice, with a deadline of December 28, 2026, and must obtain lender consent to facilitate the payments. Lifecore Biomedical, Inc. is a medical device and pharmaceutical manufacturing company.