Welcome to our dedicated page for Immucell news (Ticker: ICCC), a resource for investors and traders seeking the latest updates and insights on Immucell stock.
ImmuCell Corporation (Nasdaq: ICCC) is a biotechnology company headquartered in Portland, Maine. The company’s primary mission is to develop, manufacture, and market scientifically proven and practical products aimed at improving the health and productivity of dairy and beef cattle. These products are designed to make a measurable economic impact in the dairy and beef industries.
Operating within the healthcare sector, ImmuCell focuses on two main segments:
- Scours Segment: This segment is dedicated to the production and sale of First Defense®, a product designed to prevent scours in newborn calves. The product is regulated by the United States Department of Agriculture (USDA) and provides immediate immunity to newborn calves.
- Mastitis Segment: This segment focuses on the development and commercialization of Re-Tain®, a treatment for subclinical mastitis in lactating dairy cows. This product offers a novel alternative to traditional antibiotics and is regulated by the United States Food and Drug Administration (FDA).
During the third quarter of 2023, ImmuCell faced significant challenges due to contamination events, which impacted production and sales. Despite these setbacks, the company has implemented operational improvements and controls to enhance its production process. In the first three quarters of 2023, production output increased steadily, with finished goods production rising from approximately $3.3 million to $5.3 million. The company targets a quarterly production value of approximately $6 million, which would annualize to about 80% of its full production capacity.
Financially, ImmuCell reported a substantial increase in sales during the first quarter of 2024, achieving an all-time quarterly sales record of $7.3 million. This marks a 111% increase compared to the same period in 2023. The company's backlog of orders was around $9.1 million as of March 31, 2024, showing a significant increase from the previous year.
Looking ahead, ImmuCell continues to work towards FDA approval for Re-Tain®, with the goal of revolutionizing the treatment of subclinical mastitis in the dairy market. The company remains committed to increasing its production capacity and output to meet growing demand and aims to maintain production success going forward.
ImmuCell's innovative products and strategic focus on enhancing cattle health and productivity position the company as a significant player in the biotechnology and animal health sectors. For more information, visit the company's website at www.immucell.com.
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.
ImmuCell Corporation (Nasdaq: ICCC) announced its 2022 Annual Meeting of Stockholders will be held virtually on June 15, 2022, at 3:00 PM ET, due to COVID-19 precautions. Stockholders of record as of April 14, 2022, can participate via live audio webcast or telephone. Voting in advance is encouraged. The Company also urged investors to review their recent Form 10-Q filed on May 12, 2022, for insights into financial performance. ImmuCell focuses on improving dairy and beef cattle health through innovative products like First Defense® and Re-Tain®.
ImmuCell Corporation (Nasdaq: ICCC) reported a significant 46% increase in Q1 2022 product sales, reaching $6 million, compared to $4.1 million in Q1 2021. This surge has enhanced cash flows and net income, which stood at $736,000 or $0.09 per diluted share. Gross margins improved to 52%. The company has ramped up production capacity and anticipates an FDA response regarding Re-Tain® by Q3 2022. Cash reserves rose to $11.8 million, while net working capital reached $15.9 million, reflecting a healthy financial position.
ImmuCell Corporation (Nasdaq: ICCC) will announce its unaudited financial results for the quarter ending March 31, 2022, after market close on May 12, 2022. A conference call is scheduled for May 13, 2022, at 9:00 AM ET to discuss the results. Dr. Joseph H. Crabb will participate to cover the company's science and technology. The Quarterly Report on Form 10-Q will be available post-market close on May 12, 2022, along with a corporate presentation on ImmuCell's business.
FAQ
What is the current stock price of Immucell (ICCC)?
What is the market cap of Immucell (ICCC)?
What does ImmuCell Corporation do?
What are the main products of ImmuCell?
Where is ImmuCell Corporation based?
In which markets does ImmuCell operate?
What challenges did ImmuCell face in 2023?
What financial performance did ImmuCell achieve in early 2024?
What is the production capacity target for ImmuCell?
What is Re-Tain® and why is it significant?
How does ImmuCell ensure the quality of its products?
Where can I find more information about ImmuCell?
