Lifecore Biomedical, Inc. Receives Notice From Nasdaq Regarding Delayed Quarterly Report For The Fiscal Quarter Ended February 25, 2024 And Its Continued Delay In Filing Its Quarterly Report On Form 10-Q For The Quarterly Periods Ended August 27, 2023 And November 29, 2023
Portfolio Pulse from Benzinga Newsdesk
Lifecore Biomedical, Inc. (LFCR) received a notice from Nasdaq on April 15, 2024, for not filing its quarterly reports for the periods ending February 25, 2024, August 27, 2023, and November 29, 2023, violating Nasdaq Listing Rule 5250(c)(1). Despite this, the company's stock remains listed as it appeals the potential delisting. Lifecore is working to complete and file the overdue reports to regain compliance.
April 19, 2024 | 8:41 pm
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Lifecore Biomedical, Inc. is at risk of being delisted from Nasdaq due to delayed quarterly filings but remains listed as it appeals the decision. The company is actively working to regain compliance.
The notice from Nasdaq regarding Lifecore Biomedical's failure to file its quarterly reports on time is a significant regulatory issue that directly impacts the company's stock. The potential for delisting poses a substantial risk to the stock's value in the short term. However, the company's efforts to appeal the delisting decision and to complete the filings as promptly as possible may mitigate some of the negative impact. The uncertainty surrounding the Nasdaq Hearings Panel's decision adds volatility to the stock's short-term outlook.
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