Immucell Stock Price, News & Analysis

ImmuCell Corporation (Nasdaq: ICCC) has announced the hiring of Dr. Raffael Lichdi as its new Commercial Research & Technical Services Veterinarian. Dr. Lichdi, an experienced veterinarian with a background in large dairy consulting and animal health companies, is expected to enhance the company's market position, particularly for its subclinical mastitis treatment, Re-Tain®. This product aims to treat dairy cows without the need for milk discards and is pending FDA approval. The company is also addressing a backlog in its First Defense® product line by expanding production capacity.

ImmuCell Corporation (Nasdaq: ICCC) announced the FDA issued a Technical Section Incomplete Letter regarding its CMC submission for Re-Tain®, aimed at treating subclinical mastitis in dairy cows. This letter pertains to manufacturing requirements for the drug substance and product. The company plans to resubmit the CMC section in Q4 2021, aiming for a New Animal Drug Approval by Q3 2022. The previous FDA letters had covered four other major sections necessary for product approval.

ImmuCell Corporation (Nasdaq: ICCC) reported a net income of $141,000 for Q2 2021, a significant turnaround from a net loss of $766,000 in Q2 2020. Total product sales surged by 53% to $4.5 million compared to $2.9 million in the prior year. Despite experiencing delays in production capacity expansion, the company managed to reduce its backlog of First Defense® orders and increased its annualized production output to approximately $18.2 million. Gross margins improved to 46% in Q2 2021, up from 43% in the same period last year. Cash and equivalents rose to $10.7 million.

ImmuCell Corporation (Nasdaq: ICCC) plans to announce its unaudited financial results for Q2 2021 on August 12, 2021, after market close. A conference call to discuss these results is scheduled for August 13, 2021, at 9:00 AM ET. Investors will have access to the financial report via the company’s website post-release. ImmuCell focuses on developing products to enhance the health of dairy and beef cattle, including First Defense® for calf immunity and Re-Tain® for mastitis treatment.

ImmuCell Corporation (Nasdaq: ICCC) reported preliminary unaudited sales results for Q2 2021, showing a 53% increase in product sales to approximately $4.5 million, compared to the same period last year. This follows a 10% increase in six-month sales to approximately $8.6 million. The company has nearly completed a $3.5 million investment to boost production capacity of its First Defense product, aiming for $30 million annual sales by Q3 2022. A backlog reduction was reported, with expectations of eliminating remaining orders by Q3 2021.

ImmuCell Corporation (Nasdaq: ICCC) announced that its 2021 Annual Meeting of Stockholders will be held virtually, scheduled for June 16, 2021, at 3:00 PM ET, due to COVID-19 precautions. Stockholders as of April 15, 2021, can participate via a live audio webcast or by telephone. Proxy voting is encouraged ahead of the meeting, with arrangements for those wishing to vote during the event. The company also encourages investors to review its recent Form 10-Q and Corporate Presentation for insights on its business and upcoming matters for vote.

ImmuCell Corporation (Nasdaq: ICCC) reported its Q1 2021 financial results with total product sales of $4.1 million, down 16% year-over-year. However, annual sales increased by 2% to $14.5 million. The company faced a backlog of $3.1 million, up from $1.8 million in Q4 2020. Gross margin declined to 39%, expected to return to 46% post-expansion. A $4.25 million equity raise was secured for growth initiatives. The net loss for Q1 2021 was $441,000, compared to a loss of $122,000 in Q1 2020. Cash reserves decreased to $6.8 million from $7.9 million.

ImmuCell Corporation (Nasdaq: ICCC) plans to release its unaudited financial results for Q1 2021 on May 13, 2021, after market close. A conference call will occur on May 14, 2021, at 9:00 AM ET to discuss these results and a recent equity raise. Investors can listen to the call via specified phone lines. Additionally, a Corporate Presentation will be available on the company's website following the earnings report. ImmuCell focuses on developing products to enhance the health of dairy and beef cattle.

ImmuCell Corporation (Nasdaq: ICCC) announced the closure of an equity investment on April 14, 2021, raising $4,250,037 by issuing 515,156 common shares at $8.25 each to its largest stockholder and other investors. The funds will facilitate growth initiatives, including increasing production capacity for First Defense® from $23 million to $30 million per year, conducting marketing studies, and expanding vaccine production. A conference call is scheduled for May 14, 2021, to discuss the investment and financial results.