Lifecore appoints new chief commercial officer to drive growth

CHASKA, Minn. - Lifecore Biomedical, Inc. (NASDAQ: LFCR), a contract development and manufacturing organization (CDMO) known for its sterile injectable pharmaceutical products, has announced the appointment of Mark DaFonseca as its new chief commercial officer. The company, with a market capitalization of approximately $249 million and annual revenue of $130 million, has maintained a strong liquidity position with a current ratio of 2.7x, according to InvestingPro data. With nearly three decades of experience in the pharmaceutical industry, DaFonseca brings a wealth of knowledge from his previous leadership roles in sales organizations within the CDMO sector.

DaFonseca’s expertise spans preclinical and chemistry, manufacturing and controls (CMC) activities through to late-stage clinical trials. His appointment is part of Lifecore’s strategic initiative to enhance its position in the CDMO market, focusing on building a strong sales and marketing team, fostering customer partnerships, and expanding the business portfolio. The company’s stock has shown resilience with a 20% return over the past year, though InvestingPro analysis indicates current trading levels are near Fair Value. Analysts maintain a strong buy consensus with a $10 price target.

Prior to joining Lifecore, DaFonseca served as vice president at CordenPharma and held executive positions at AmbioPharma and CoreRx, where he led sales, marketing, and project management teams. His track record includes exceeding performance indicators and contributing to the growth of the organizations he has been a part of. For deeper insights into Lifecore’s financial health, growth prospects, and comprehensive analysis, investors can access the detailed Pro Research Report available exclusively on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.

In his statement, Lifecore’s president and CEO, Paul Josephs, expressed confidence in DaFonseca’s ability to contribute to the company’s growth strategy. DaFonseca himself is eager to leverage Lifecore’s assets, including its history of success in U.S.-based manufacturing and commitment to quality, to strategically expand the business. While the company faces near-term challenges with an expected decline in net income, InvestingPro data shows strong liquidity metrics that could support future growth initiatives.

As part of his compensation, Lifecore will grant DaFonseca restricted stock units and stock options as an inducement for joining the company, in accordance with Nasdaq Listing Rule 5635(c)(4) and under Lifecore’s Equity Inducement Plan.

This announcement is based on a press release statement and comes at a time when Lifecore continues to focus on growth and expanding its market reach. The company’s dedication to partnering with biopharmaceutical and biotechnology companies is aimed at bringing innovative therapeutic solutions to market.

In other recent news, Lifecore Biomedical reported a 2% decline in revenue for its fiscal third quarter of 2025, totaling $35.2 million, alongside a net loss of $14.8 million or $0.47 per diluted share. Despite this, the company remains optimistic about future revenue growth and improved cash flow in the upcoming quarters. Additionally, Lifecore’s stockholders approved a proposal to issue shares exceeding 19.99% of its common stock, following a Securities Purchase Agreement involving Series A Convertible Preferred Stock. This decision allows the company to convert these preferred shares into common stock, complying with Nasdaq Listing Rule 5635(d). Moreover, William Blair initiated coverage of Lifecore Biomedical with an Outperform rating, citing the positive impact of minimum volume commitments from its major customer, Alcon, which are expected to support revenue growth. The firm projects a compound annual revenue growth rate of 11.6% from fiscal 2025 to 2028. These developments indicate Lifecore’s strategic moves to bolster its financial standing and expand its market presence.

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