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ImmuCell Corporation (Nasdaq: ICCC) is an animal health company that develops, manufactures and markets scientifically proven and practical products to improve the health and productivity of dairy and beef cattle. News about ImmuCell often centers on sales performance for its First Defense® product line, strategic decisions regarding its Re-Tain® mastitis treatment candidate, and updates on manufacturing capacity and financing.
Investors following ICCC news can expect regular preliminary, unaudited product sales updates shortly after quarter-end, followed by detailed unaudited financial results releases. These announcements typically include commentary on product sales trends for First Defense®, including Tri-Shield® and Dual-Force® variants, domestic and international sales mix, gross margin performance, and the impact of prior production backlogs and inventory rebuilding.
Company news also covers strategic shifts, such as ImmuCell’s decision to focus resources on expanding the First Defense® franchise after receiving an FDA Incomplete Letter for the Re-Tain® New Animal Drug Application. Releases describe plans to increase the First Defense® sales force, expand manufacturing capacity, repurpose assets, and complete investigational Re-Tain® studies to support potential licensing or partnership opportunities.
Additional ICCC news items include leadership changes, such as the selection and onboarding of a new President and CEO, bank debt refinancing transactions, extensions of credit facilities, and details of conference calls with investors. For readers tracking ICCC, this news feed provides a centralized view of operational updates, product development milestones, capital structure developments and management commentary related to ImmuCell’s cattle health business.
ImmuCell Corporation (Nasdaq: ICCC) reported its unaudited financial results for the year ended December 31, 2022, showing a net loss of $2.5 million compared to a net loss of $78,000 in 2021. The gross margin fell to 41% from 45% due to contamination issues in production. The company faced production slowdowns and increasing backlogs, which reached $2.5 million. Cash reserves decreased to $5.8 million, down from $10.2 million in the prior year. Despite setbacks, ImmuCell is focused on expanding production capacity while preparing to resubmit critical FDA documentation for its Re-Tain® product, which addresses significant losses from subclinical mastitis in the dairy industry.
ImmuCell Corporation (Nasdaq: ICCC) has announced its upcoming unaudited financial results for the year ending December 31, 2022, to be released after the market closes on February 21, 2023. A conference call will follow on February 22, 2023, at 9:00 AM ET for discussing these results. Investors can participate by calling (844) 855-9502 or (412) 317-5499. The Company also plans to file its Annual Report on Form 10-K around March 29, 2023, and will update its Corporate Presentation on its website.
ImmuCell is known for products that enhance cattle health, including First Defense® and the developing Re-Tain® treatment.
ImmuCell Corporation (Nasdaq: ICCC) announced its preliminary, unaudited sales results for 2022, showing total sales of $18.57 million, down 3.5% from $19.24 million in 2021. Q4 sales were $3.91 million, a 28.2% decline compared to $5.44 million in Q4 2021. Notably, the company reported a backlog of $2.5 million, significantly up from $205,000 in Q3 2022. Despite production delays, the company aims to obtain regulatory approval for its Re-Tain product in 2023.
ImmuCell Corporation (Nasdaq: ICCC) will report its unaudited financial results for Q3 2022 after market close on November 21, 2022. A conference call is scheduled for 9:00 AM ET on November 22, 2022, to discuss these results. The company is restating its financial statements for Q1 and Q2 2022 due to an error that understated administrative expenses by approximately $222,000. This restatement does not affect its cash position or product sales. Preliminary sales results for Q3 are expected to remain unchanged.
ImmuCell Corporation (Nasdaq: ICCC) has reported preliminary, unaudited sales results for Q3 2022, indicating total sales of $4.80 million, down 7% from $5.15 million in Q3 2021. For the nine-month period, sales rose to $14.66 million, up 6% from $13.80 million in 2021. The company has reduced its backlog significantly, from $2.43 million to approximately $205,000. CEO Michael Brigham expressed optimism about ongoing production improvements and regulatory submissions for the product Re-Tain, expected to proceed in early 2023.
ImmuCell Corporation (Nasdaq: ICCC) announced its participation in the Lytham Partners Fall 2022 Investor Conference on September 28-29, 2022. The company's webcast presentation will be available on September 28 at 9:00 AM ET on their website. ImmuCell focuses on improving cattle health with products like First Defense®, which offers Immediate Immunity™ to calves, and is developing Re-Tain®, a treatment for subclinical mastitis in dairy cows. Archived webcasts and management meeting arrangements are available on their site.
ImmuCell Corporation (Nasdaq: ICCC) reported Q2 2022 unaudited financial results with total sales of $3.9 million, a 15% decrease compared to Q2 2021. For the six-month period, sales increased by 14% to $9.9 million. A supply disruption of plastic syringes affected production this quarter, but management anticipates sales would have remained flat otherwise. The company faced a net loss of $684,000, or $0.09 per share, compared to net income of $141,000 in Q2 2021. EBITDA decreased to $37,000 but increased to $1.47 million over six months. Cash on hand rose to $11 million as of June 30, 2022.
ImmuCell Corporation (Nasdaq: ICCC) is set to announce its unaudited financial results for Q2 2022 on August 11, 2022, after market close. A conference call will follow on August 12, 2022, at 9:00 AM ET to discuss these results and a regulatory update regarding Re-Tain®. The Company aims to enhance dairy and beef cattle health through its products, including First Defense® and Re-Tain®, which addresses subclinical mastitis without requiring milk discard. Investors are encouraged to review the updated Corporate Presentation on the Company’s website.
ImmuCell Corporation (Nasdaq: ICCC) announced that the FDA has issued a Technical Section Incomplete Letter concerning its New Animal Drug Application (NADA) for Re-Tain®. The letter pertains to the Chemistry, Manufacturing and Controls (CMC) Technical Section submitted earlier this year, with a focus on the need for a successful pre-approval re-inspection of the manufacturing facility. The company is preparing for this re-inspection and intends to submit a response in the upcoming quarter. Importantly, the FDA comments did not raise concerns about the safety or efficacy of Re-Tain®.
ImmuCell Corporation (Nasdaq: ICCC) announced preliminary, unaudited sales for Q2 2022, reporting $3.9 million, a 15% decrease from $4.5 million in Q2 2021. For the six-month period, sales rose to $9.9 million, up 14% from $8.6 million year-over-year. A supply disruption limited production, contributing to a backlog of $704,000. The company is focused on expanding manufacturing capacity and is seeking FDA approval for the new treatment Re-Tain®. A conference call for full Q2 results is scheduled for August 12, 2022.
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