ImmuCell (NASDAQ: ICCC) flags $3.6M impairment and pivots toward First Defense

Rhea-AI Filing Summary

ImmuCell Corporation reported that it has released preliminary, unaudited sales results for the three‑month and twelve‑month periods ended December 31, 2025, via a January 8, 2026 press release. The company also disclosed that it will record approximately $3.6 million in non‑cash impairment write‑downs for the quarter ended December 31, 2025, and stated it does not expect these charges to lead to material future cash expenditures, although actual amounts may differ from current estimates.

The company highlighted a strategic shift toward its First Defense® product line and away from Re‑Tain®, and scheduled a conference call on January 9, 2026 to discuss top‑line results and this shift. A second conference call is planned for February 26, 2026 to review full, unaudited financial results for the quarter and year ended December 31, 2025, which the company expects to release after market close on February 25, 2026.

Positive

• None.

Negative

• Material non-cash impairment: ImmuCell expects approximately $3.6 million in impairment write-downs in Q4 2025, indicating certain assets have lost significant value.

Insights

Equity analyst – small-cap life sciences

ImmuCell flags a strategic pivot and a $3.6M non-cash impairment.

ImmuCell Corporation furnished preliminary, unaudited sales results for the quarter and year ended December 31, 2025, and tied these to a broader business update. The key new element is an expected $3.6 million non‑cash impairment write‑down in the fourth quarter, which reflects reduced fair values of certain assets rather than an immediate cash outflow.

The company states it does not expect these impairment charges to result in material future cash expenditures, underscoring that the impact is accounting‑driven. However, by definition this is a material impairment and signals that prior investments, likely related to specific products or initiatives, are not meeting earlier expectations.

Management is also emphasizing a strategic shift toward First Defense® and away from Re‑Tain®, with a conference call on January 9, 2026 to discuss top‑line results and the new focus, and another on February 26, 2026 to cover full unaudited results for 2025. How revenue trends and margins align with this product mix change, once fully disclosed, will frame how investors interpret the impairment and the refocused strategy.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) January 8, 2026

ImmuCell Corporation

(Exact name of registrant as specified in its charter)

DE		001-12934		01-0382980
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

56 Evergreen Drive Portland, Maine		04103
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code 207-878-2770

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol(s)		Name of each exchange on which registered
Common Stock, $0.10 par value per share		ICCC		The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.  Results of Operations and Financial Condition

On January 8, 2026, ImmuCell Corporation (the “Company”) issued a press release announcing its preliminary, unaudited sales results for the three-month and twelve-month periods ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 hereto, and is incorporated herein by reference.

The information in this report and the exhibit attached hereto are being furnished and shall not be deemed filed for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly stated by specific reference in such filing.

Item 2.06. Material Impairments.

In its January 8, 2026 press release (see Exhibit 99.1, incorporated herein by reference), the Company announced that it will record approximately $3.6 million in non-cash impairment write-downs during the three-month period ended December 31, 2025.

1. As announced on December 24, 2025, the Company decided to pause further investment in Re-Tain® after receiving an FDA Incomplete Letter because the Company’s contract manufacturer had not satisfactorily addressed previously cited inspectional deficiencies. The net book value of the Re-Tain® assets as of September 30, 2025 was approximately $15.5 million. The Company presently believes it will be able to repurpose most of those assets for expanded production of the Company’s lead product, First Defense®. The resulting non-cash impairment write-down of property, plant and equipment pertaining to Re-Tain® is currently estimated at approximately $2.9 million (a figure higher than the preliminary estimated write-down).

2. Unrelated to Re-Tain®, the Company has identified a $0.1 million, non-cash impairment write-down of certain property, plant and equipment, and a $0.6 million write-down primarily of work-in-process colostrum inventory that was determined to no longer be fit for processing into First Defense®.

The Company does not expect that these charges will result in material future cash expenditures. The actual timing, fair values, and the related impairment charges associated with these actions may differ from the Company’s current expectations due to the inherent nature of the estimates and such differences may be material.
 

Item 8.01. Other Events.

In its January 8, 2026 press release (see Exhibit 99.1, incorporated herein by reference), the Company announced that it will host a conference call on Friday, January 9, 2026, at 9:00 AM ET to discuss the unaudited top line results and review its strategic shift to First Defense® and away from Re-Tain®. Interested parties may access the conference call by dialing (844) 855-9502 (toll free) or (412) 317-5499 (international). A replay of the conference call will be available until January 16, 2026, by dialing (855) 669-9658 (toll free) or (412) 317-0088 (international) and using the replay access code #6043808.

Additionally, the Company will host a second conference call on Thursday, February 26, 2026, at 9:00 AM ET to discuss the full, unaudited financial results for the quarter and year ended December 31, 2025. The Company plans to release these results after market close on Wednesday, February 25, 2026. Interested parties may access this conference call by dialing (844) 855-9502 (toll free) or (412) 317-5499 (international). A replay of the conference call will be available until March 5, 2026, by dialing (855) 669-9658 (toll free) or (412) 317-0088 (international) and using the replay access code #2017737.
 

Item 9.01.  Financial Statements and Exhibits.

d. Exhibits

The following exhibits shall be deemed to be furnished, and not filed:

99.1 Press Release dated January 8, 2026, entitled “ImmuCell Announces Preliminary, Unaudited Sales Results for Q4 and Full Year of 2025”

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	IMMUCELL CORPORATION
Date: January 8, 2026	By:	/s/ Timothy C. Fiori
		Timothy C. Fiori
		Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release of ImmuCell Corporation dated January 8, 2026.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

FAQ

What did ImmuCell Corporation (ICCC) announce in this update?

ImmuCell Corporation announced preliminary, unaudited sales results for the three‑month and twelve‑month periods ended December 31, 2025, alongside a business update and conference call details.

How large is the impairment charge ImmuCell plans to record?

The company expects to record approximately $3.6 million in non‑cash impairment write‑downs during the three‑month period ended December 31, 2025.

Will ImmuCell’s impairment charges affect future cash flows?

ImmuCell states that it does not expect these non‑cash impairment charges to result in material future cash expenditures, although actual outcomes may differ from current estimates.

What strategic shift did ImmuCell describe regarding its products?

The company plans a strategic shift toward its First Defense® product and away from Re‑Tain®, which it intends to discuss during its January 9, 2026 conference call.

When will ImmuCell discuss its preliminary 2025 results with investors?

ImmuCell scheduled a conference call on January 9, 2026 at 9:00 AM ET to discuss unaudited top line results and its strategic shift.

When will ImmuCell review full 2025 financial results?

The company plans to release full, unaudited financial results for the quarter and year ended December 31, 2025 after market close on February 25, 2026, and to host a conference call on February 26, 2026 at 9:00 AM ET.