Lifecore Biomedical down on exploring strategic alternative

Lifecore Biomedical

17/03/2023 14:05

** Shares of Lifecore Biomedical Inc  LFCR.O  fall 46.7% to
$2.72 - record one-day pct loss
    ** Contract development and manufacturing organization says
it is exploring strategic alternatives, which include sale of
the co, potential debt or equity financing transactions, or
other possible strategic transactions  urn:newsml:reuters.com:*:nGNX5qd7nP
    ** Co withdraws previously announced 2023 guidance following
its intention to explore strategic alternatives  urn:newsml:reuters.com:*:nGNX7s9lrJ
    ** Q2 2023 sales was $38.8 mln, a decrease of 10.7%
year-over-year
    ** LFCR lost ~42% last year

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))