Lifecore Biomedical shares are trading higher after the company announced it entered into $150 million in new financing, repaid its outstanding term loans and signed a new supply agreement to expact its HA fermentation capacity with Alcon.
Portfolio Pulse from Benzinga Newsdesk
Lifecore Biomedical has secured $150 million in new financing, repaid its outstanding term loans, and signed a supply agreement to expand its HA fermentation capacity with Alcon.
May 23, 2023 | 12:26 pm
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Lifecore Biomedical's new financing and supply agreement with Alcon will likely boost its financial position and growth prospects.
Lifecore Biomedical's new financing allows the company to repay its outstanding term loans, improving its financial position. The supply agreement with Alcon to expand HA fermentation capacity will likely lead to increased revenue and growth opportunities.
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