05:13 PM EDT, 04/19/2024 (MT Newswires) -- Lifecore Biomedical ( LFCR ) said late Friday it has received a notification letter from Nasdaq for non-compliance with the requirements for continued listing.

The notice was due to a delay in filing its quarterly report for the quarter ended Feb. 25 and a continued delay in filing the quarterly report for the periods ended Aug. 27, 2023, and Nov. 29, 2023, with the Securities and Exchange Commission.

The notification has no immediate effect on the listing or trading of the shares on the Nasdaq, the company said.

In February, Nasdaq initiated a process which could result in the delisting of its securities, the company said, adding that it appealed the decision and appeared for a hearing to request a further stay of any suspension.

"The Nasdaq Hearings Panel has not yet issued its decision," Lifecore said.

The firm said it's working to complete the filings and plans to file them as soon as possible to regain compliance.