Lifecore Biomedical CEO: Standalone CDMO Shift Complete, Utilization to Hit 60% by 2029

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company is operating at about ~20% capacity today and expects to reach ~60% utilization by 2029, which management says will drive revenue and margin expansion toward an EBITDA margin >25% and an updated mid‑term revenue range of $212–$225 million.Key growth drivers include an Alcon agreement that could more than double fill‑finish demand through 2029, a late‑stage pipeline of 10 programs (modeled at a 50% conversion rate), and two tech transfers that could each contribute more than $10 million annually with commercialization targeted around 2028.Interested in Lifecore Biomedical, Inc.? Here are five stocks we like better.Lifecore Biomedical (NASDAQ:LFCR) CEO Paul Josephs told investors at a KeyBanc conference that the company has completed its transition into a “standalone CDMO” after divesting its former food businesses in 2022 and 2023. Josephs said Lifecore is now focused on two primary operations at its single site in Chaska, Minnesota: hyaluronic acid (HA) fermentation and sterile injectable contract manufacturing.Josephs said Lifecore was previously part of a food conglomerate that traded under the name Landec. The company divested its food businesses—“avocados and salads”—across 2022 and 2023, leaving Lifecore as a life sciences-focused contract development and manufacturing organization.→ Forget Chipmakers: Walmart and Target Are the Real AI PlaysHe described Lifecore’s HA business as rooted in its origins roughly 40 years ago. While hyaluronic acid is widely known for consumer dermatology products, Josephs emphasized Lifecore manufactures “highly sterile injectable grade” HA used in sterile injectable products, primarily for ophthalmic and orthopedic uses, and in some cases injectable dermal fillers.The second segment is sterile injectable contract manufacturing, where Lifecore produces sterile injectable products for other pharmaceutical companies across both development and commercial stages. Josephs said the company is now looking to expand into additional modalities and take advantage of what he called a “strong growth” market for injectable CDMO services.→ Expedia Stock Turns Volatile After Rally. Where Does It Go Next?Josephs said he has spent 35 years in the pharmaceutical industry, including 32 years in the CDMO sector. He said he was drawn to Lifecore because significant capacity investments were already in place, the company had a strong quality track record, and the opportunity was to “fill” capacity and improve profitability.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoTrending tickersBTC-USD Bitcoin USD 69,257.39 -1,462.71 (-2.07%)ETH-USD Ethereum USD 2,111.91 -44.46 (-2.06%)XRP-USD XRP USD 1.41 -0.03 (-2.32%)BTC-CAD Bitcoin CAD 95,100.78 -2,008.52 (-2.07%)SOL-USD Solana USD 88.84 -1.74 (-1.92%)PortfolioSign in to access your portfolioSign inTop gainersPL Planet Labs PBC 33.83 +6.87 (+25.48%)PSNYW Polestar Automotive Holding UK PLC 5.25 +0.88 (+20.14%)YSS York Space Systems, Inc. 21.07 +3.39 (+19.17%)LBTYB Liberty Global Ltd. 14.17 +2.03 (+16.72%)SEDG SolarEdge Technologies, Inc. 51.73 +6.07 (+13.29%)Top losersSMCI Super Micro Computer, Inc. 20.53 -10.26 (-33.32%)AAOI Applied Optoelectronics, Inc. 87.54 -14.38 (-14.11%)VICR Vicor Corporation 164.54 -25.59 (-13.46%)VST Vistra Corp. 146.02 -21.12 (-12.64%)FLOC Flowco Holdings Inc. 21.69 -2.76 (-11.29%)Most activeCMCSA Comcast Corporation 29.02 +0.04 (+0.14%)SMCI Super Micro Computer, Inc. 20.53 -10.26 (-33.32%)NVDA NVIDIA Corporation 172.70 -5.86 (-3.28%)RITM Rithm Capital Corp. 8.77 -0.26 (-2.88%)PLUG Plug Power Inc. 2.2300 -0.1700 (-7.08%)Top economic eventsEarnings eventsMy earnings eventsEarnings events