Lifecore Biomedical reports Q3 2026 results, cites new CDMO pipeline wins

Lifecore Biomedical reported third-quarter 2026 results on November 4, 2026, highlighting several new business wins alongside declining revenue. According to the company, Lifecore secured two new technology transfer projects during the third quarter, one to support process performance qualification batches for a biotech company's new drug application for a new chemical entity, and the other to support a currently marketed product for a large pharmaceutical company.¹ CEO Paul Josephs said these programs are expected to add to Lifecore's pipeline and contribute to the company's long-term revenue growth objectives starting in 2027.¹

The company also said that early in the fourth quarter it secured three new development-phase programs, including one Phase 2 product with a top-20 global pharmaceutical company and two Phase 3 products with two biotech companies.¹

Financially, third-quarter 2026 revenues were $25.3 million, down 18.6% from $31.1 million in the prior-year quarter.¹ Net loss for the quarter was $40.1 million, or $1.08 per diluted share, compared with a net loss of $10.0 million, or $0.29 per diluted share, a year earlier.¹ The company ended the quarter with approximately $38.0 million in liquidity, including $23.0 million in cash and $15.0 million in revolving credit availability.¹

The filing also disclosed pending corporate activity. Lifecore noted that forward-looking statements may be affected by risks tied to a previously announced proposed merger under an agreement dated September 27, 2026 involving the Company, Lifecore Inc., and Hazel Merger Sub, Inc.¹ The company listed several risks tied to that transaction, including the possibility that the deal may not close on schedule or at all, and the potential for a termination fee under certain circumstances.¹