ImmuCell Corporation (Nasdaq: ICCC) (“ImmuCell” or the “Company”), a growing animal health company that develops, manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle, today announced preliminary, unaudited sales results for the fourth quarter and full year ended December 31, 2024.
Since the first quarter of 2020, the Company has been providing a preliminary look at its unaudited top line results soon after the close of the quarter. The Company expects to continue providing this prompt, preliminary report on product sales until further notice going forward.
| Preliminary, Unaudited Total Sales Results: | ||||
| 2024 | 2023 | $ Increase | % Increase | |
| During the Three-Month Periods Ended December 31, | $7.8 million | $5.1 million | $2.7 million | 52% |
| During the Years Ended December 31, | $26.5 million | $17.5 million | $9.0 million | 52% |
During the three-month period ended December 31, 2024, annualized production output was approximately 103% of the Company’s estimated full capacity of approximately $30 million per year. This production output helped reduce the backlog of orders to approximately $4.4 million as of January 1, 2025 from approximately $9.4 million as of January 1, 2024. The Company believes that the current backlog reflects strong demand as distributors work to replenish their buffer stocks and as end-users place orders in advance of peak calving season during the first quarter.
“We continue to work to achieve FDA approval to commercialize Re-Tain®,” commented Michael F. Brigham, President and CEO of ImmuCell. “In late December, our contract manufacturer submitted its response to inspectional observations pertaining to its facilities. We just filed our Non-Administrative NADA in January, which included our fourth submission of the CMC Technical Section (responding to the minor, non-complex issues from the prior Incomplete Letter) together with All Other Information and Product Labeling. We have been in discussions with the FDA about an expedited review of our filing.”
Conference Call:
The Company is planning to host a conference call on Wednesday, February 26, 2025 at 9:00 AM ET to discuss the unaudited financial results for the quarter and year ended December 31, 2024. Interested parties can access the conference call by dialing (844) 855-9502 (toll free) or (412) 317-5499 (international) at 9:00 AM ET. A teleconference replay of the call will be available until March 5, 2025 at (877) 344-7529 (toll free) or (412) 317-0088 (international), utilizing replay access code #5555700. Investors are encouraged to review the Company’s Corporate Presentation slide deck that provides an overview of the Company’s business and is available under the “Investors” tab of the Company’s website at www.immucell.com, or by request to the Company. An updated version of the slide deck will be made available after the market closes on Tuesday, February 25, 2025.
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