ImmuCell Corporation Files Quarterly Report (10-Q) for Period Ended March 31, 2024

TL;DR

<b>ImmuCell Corporation filed its quarterly report for Q1 2024, detailing its financial position and operational status.</b>

AI Summary

IMMUCELL CORP /DE/ (ICCC) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. ImmuCell Corporation filed a 10-Q report for the quarterly period ended March 31, 2024. The company's common stock is traded under the symbol ICCC on The Nasdaq Capital Market. As of May 3, 2024, ImmuCell Corporation had 7,811,874 shares of common stock outstanding. The filing indicates ImmuCell Corporation is a non-accelerated filer and a smaller reporting company. The report includes unaudited financial statements, including balance sheets as of March 31, 2024, and December 31, 2023.

Why It Matters

For investors and stakeholders tracking IMMUCELL CORP /DE/, this filing contains several important signals. This 10-Q filing provides investors with the latest unaudited financial data, allowing for an assessment of the company's performance and financial health during the first quarter of 2024. As a smaller reporting company and non-accelerated filer, ImmuCell's disclosures are crucial for understanding its specific financial situation and market standing.

Risk Assessment

Risk Level: low — IMMUCELL CORP /DE/ shows low risk based on this filing. The risk is low as this is a standard quarterly filing providing financial updates, not indicating immediate operational or financial distress.

Analyst Insight

Monitor future filings for revenue growth, net income trends, and any significant changes in debt or cash position to assess ImmuCell's financial trajectory.

Key Numbers

• 7,811,874 — Shares Outstanding (As of May 3, 2024)
• 2024-03-31 — Quarterly Period End Date (For the quarterly period ended)
• 2024-05-14 — Filing Date (Date the 10-Q was filed)

Key Players & Entities

• IMMUCELL CORP /DE/ (company) — Filer name
• ICCC (company) — Trading symbol
• The Nasdaq Capital Market (company) — Exchange where common stock is registered
• March 31, 2024 (date) — Quarterly period ended
• May 3, 2024 (date) — Date as of which shares outstanding were reported
• 7,811,874 (dollar_amount) — Number of common shares outstanding
• Portland, ME (location) — Principal executive office location
• 207 (dollar_amount) — Area code for registrant's telephone number

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The company must comply with various regulations related to its products and operations in the life sciences sector.
• Financial Performance [medium — financial]: The company's ability to generate revenue and achieve profitability is subject to market demand and operational efficiency.
• Product Development and Commercialization [medium — operational]: Success depends on the effective development, regulatory approval, and market adoption of its diagnostic and therapeutic products.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the unaudited financial statements.
• 2024-05-14: Filing Date — Date the Form 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 par value per share ICCC The Nasdaq Cap

Filing Documents

• ea0205725-10q_immucell.htm (10-Q) — 1019KB
• ea020572501ex31_immucell.htm (EX-31) — 9KB
• ea020572501ex32_immucell.htm (EX-32) — 4KB
• image_001.jpg (GRAPHIC) — 78KB
• image_002.jpg (GRAPHIC) — 76KB
• 0001213900-24-042925.txt (&nbsp;) — 7187KB
• iccc-20240331.xsd (EX-101.SCH) — 66KB
• iccc-20240331_cal.xml (EX-101.CAL) — 41KB
• iccc-20240331_def.xml (EX-101.DEF) — 319KB
• iccc-20240331_lab.xml (EX-101.LAB) — 576KB
• iccc-20240331_pre.xml (EX-101.PRE) — 322KB
• ea0205725-10q_immucell_htm.xml (XML) — 900KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION ITEM 1. Unaudited Financial Statements Balance Sheets as of March 31, 2024 and December 31, 2023 1 2 3 4-5 Notes to Unaudited Financial Statements 6-24 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25-41 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 41 ITEM 4.

Controls and Procedures

Controls and Procedures 41

: OTHER INFORMATION

PART II: OTHER INFORMATION

THROUGH 6

ITEM 1 THROUGH 6. 42-52 Signature 53 i ImmuCell Corporation Part 1. FINANCIAL INFORMATION

UNAUDITED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED FINANCIAL STATEMENTS BALANCE SHEETS (Unaudited) As of March 31, 2024 As of December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 960,347 $ 978,741 Trade accounts receivable 2,622,532 2,185,383 Inventory 7,149,563 7,811,841 Prepaid expenses and other current assets 615,203 493,885 Total current assets 11,347,645 11,469,850 Property, plant and equipment, net 26,982,105 27,575,683 Operating lease right-of-use asset 4,546,061 4,571,149 Goodwill 95,557 95,557 Intangible assets, net 33,432 38,208 Other assets 46,248 57,655 TOTAL ASSETS $ 43,051,048 $ 43,808,102 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current portion of debt obligations $ 1,443,791 $ 1,428,807 Current portion of operating lease liability 597,289 644,276 Accounts payable and accrued expenses 2,142,859 2,124,337 Total current liabilities 4,183,939 4,197,420 LONG-TERM LIABILITIES: Debt obligations, net of current portion 10,169,217 10,540,496 Operating lease liability, net of current portion 4,061,573 4,077,109 Total long-term liabilities 14,230,790 14,617,605 TOTAL LIABILITIES 18,414,729 18,815,025 CONTINGENT LIABILITIES AND COMMITMENTS (See Note 11) STOCKHOLDER' EQUITY: Common stock, $ 0.10 par value per share, 15,000,000 shares authorized, 7,814,165 shares issued and 7,750,864 shares outstanding as of both March 31, 2024 and December 31, 2023 781,417 781,417 Additional paid-in capital 36,438,349 36,357,239 Accumulated deficit ( 12,444,965 ) ( 12,007,097 ) Treasury stock, at cost, 63,301 shares as of both March 31, 2024 and December 31, 2023 ( 138,482 ) ( 138,482 ) TOTAL STOCKHOLDERS' EQUITY 24,636,319 24,993,077 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 43,051,048 $ 43,808,102 The accompanying notes are an integral part of these unaudited financial statements. 1 ImmuCell Corporation (Unaudited) Durin

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View this 10-Q filing on SEC EDGAR