Andrew Rem

George Melas

George Melas-Kyriazi

Jane Lindemann

Jane Lindenman

Russell Tolander

- ImmuCell Corporation reported **preliminary, unaudited sales of $5.5 million** for the three-month period ended September 30, 2025, marking an **8% decrease** compared to the same period in 2024.  **[811641_0001437749-25-030631_ex_867237.htm:0]** 
- The company noted that this sales decrease is consistent with its prior guidance of a **potential softening of sales** in the second half of 2025, following a **one-time lift in sales volume** during the first half of the year due to inventory re-stocking.  **[811641_0001437749-25-030631_ex_867237.htm:0]** 
- For the nine-month period ended September 30, 2025, sales increased **7% to $20.0 million**, and trailing twelve-month sales rose **16% to $27.8 million**.  **[811641_0001437749-25-030631_ex_867237.htm:0]**

ImmuCell Announces Preliminary Q3 2025 Sales Results

- **ImmuCell Corporation (ICCC)** reported preliminary, unaudited sales of **$5.5 million** for the **third quarter of 2025**, an **8% decrease** from the **$6.0 million** reported in the third quarter of 2024.  **[811641_1cbdad48c21f44638761815fe9ba896e_0]** 
- For the **nine-month period ended September 30, 2025**, total sales increased **7%** to **$20.0 million** from **$18.7 million** in the prior year period.  **[811641_1cbdad48c21f44638761815fe9ba896e_0]** 
- The **Q3 2025 sales decline** is consistent with the company's previous guidance regarding a potential **softening of sales** in the second half of 2025, primarily due to the **rebuilding of customer and distributor inventories** of **First Defense®** after resolving prior backlogs.  **[811641_1cbdad48c21f44638761815fe9ba896e_1]** 
- ImmuCell is conducting an Investigational Product use of **Re-Tain®** in a controlled study, which is expected to continue through the end of 2025 but is **not expected to generate revenue or profit**.  **[811641_1cbdad48c21f44638761815fe9ba896e_1]**

- ImmuCell Corporation reported strong financial results for the **first half of 2025**, with approximately **14% year-over-year revenue growth**, **$1.9 million in net income**, and **$3.7 million in adjusted EBITDA**.  **[811641_2162799_4]**  This performance benefited from the restocking of the distribution channel after a period of backlog.  **[811641_2162799_4]** 
- The company has resolved significant manufacturing contamination issues that affected operations from late 2022 through early 2024, and has been running cleanly since **April 2024**.  **[811641_2162799_2]** **[811641_2162799_3]**  Current production capacity supports **$30 million or more in revenue**, with plans to invest approximately **$3 million** to expand capacity to support **$40 million or more in revenue** within an estimated **18 months**.  **[811641_2162799_3]** 
- ImmuCell's second key product, Re-Tain, for mastitis, is in the late stages of FDA approval, with four of five technical sections complete.  **[811641_2162799_4]**  The final manufacturing section is pending resolution of a contract manufacturer's inspection with the FDA.  **[811641_2162799_4]** 
- **Michael Brigham**, CEO, will be stepping down around **year-end 2025** as part of a succession plan, with a search for his successor underway and progressing well.  **[811641_2162799_5]**  He will remain involved through the board.  **[811641_2162799_5]**

IMMUCELL CORP /DE/ (ICCC)