ImmuCell Corp Files Q2 2024 10-Q Report

TL;DR

ImmuCell Corp (ICCC) filed its Q2 2024 10-Q. Check financials.

AI Summary

ImmuCell Corporation filed its 10-Q for the quarterly period ended June 30, 2024. The company, incorporated in Delaware and headquartered in Portland, Maine, reported on its financial performance. ImmuCell Corporation's common stock is traded on The Nasdaq Capital Market under the symbol ICCC.

Why It Matters

This filing provides investors with an update on ImmuCell Corporation's financial health and operational performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a publicly traded company in the life sciences sector, ImmuCell Corporation faces inherent market and regulatory risks, and the 10-Q provides a snapshot of its current financial standing.

Key Players & Entities

• ImmuCell Corporation (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• Delaware (jurisdiction) — State of Incorporation
• Portland, ME (location) — Principal executive office
• ICCC (ticker) — Trading symbol
• The Nasdaq Capital Market (exchange) — Exchange where common stock is registered

FAQ

Key Financial Figures

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

Filing Documents

• ea0211023-10q_immucell.htm (10-Q) — 1194KB
• ea021102301ex31_immucell.htm (EX-31) — 9KB
• ea021102301ex32_immucell.htm (EX-32) — 5KB
• image_001.jpg (GRAPHIC) — 72KB
• image_002.jpg (GRAPHIC) — 63KB
• 0001213900-24-068245.txt ( ) — 7681KB
• iccc-20240630.xsd (EX-101.SCH) — 64KB
• iccc-20240630_cal.xml (EX-101.CAL) — 38KB
• iccc-20240630_def.xml (EX-101.DEF) — 308KB
• iccc-20240630_lab.xml (EX-101.LAB) — 574KB
• iccc-20240630_pre.xml (EX-101.PRE) — 314KB
• ea0211023-10q_immucell_htm.xml (XML) — 1117KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION ITEM 1. Unaudited Financial Statements Balance Sheets as of June 30, 2024 and December 31, 2023 1 2 3 4-5 Notes to Unaudited Financial Statements 6-25 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 26-45 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 45 ITEM 4.

Controls and Procedures

Controls and Procedures 45

: OTHER INFORMATION

PART II: OTHER INFORMATION

THROUGH 6

ITEM 1 THROUGH 6. 46-55 Signature 56 ImmuCell Corporation Part 1. FINANCIAL INFORMATION

UNAUDITED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED FINANCIAL STATEMENTS BALANCE SHEETS (Unaudited) As of June 30, 2024 As of December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1,324,285 $ 978,741 Trade accounts receivable 1,950,450 2,185,383 Inventory 7,299,606 7,811,841 Prepaid expenses and other current assets 219,571 493,885 Total current assets 10,793,912 11,469,850 Property, plant and equipment, net 26,397,059 27,575,683 Operating lease right-of-use asset 4,502,595 4,571,149 Goodwill 95,557 95,557 Intangible assets, net 28,656 38,208 Other assets 37,679 57,655 TOTAL ASSETS $ 41,855,458 $ 43,808,102 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current portion of debt obligations $ 1,461,216 $ 1,428,807 Current portion of operating lease liability 533,315 644,276 Accounts payable and accrued expenses 2,562,571 2,124,337 Total current liabilities 4,557,102 4,197,420 LONG-TERM LIABILITIES: Debt obligations, net of current portion 9,798,247 10,540,496 Operating lease liability, net of current portion 4,044,646 4,077,109 Total long-term liabilities 13,842,893 14,617,605 TOTAL LIABILITIES 18,399,995 18,815,025 CONTINGENT LIABILITIES AND COMMITMENTS (See Note 11) STOCKHOLDER' EQUITY: Common stock, $ 0.10 par value per share, 15,000,000 and 15,000,000 shares authorized, 7,896,381 and 7,814,165 shares issued and 7,833,080 and 7,750,864 shares outstanding, as of June 30, 2024 and December 31, 2023, respectively. 789,639 781,417 Additional paid-in capital 36,780,897 36,357,239 Accumulated deficit ( 13,976,591 ) ( 12,007,097 ) Treasury stock, at cost, 63,301 shares as of both June 30, 2024 and December 31, 2023 ( 138,482 ) ( 138,482 ) TOTAL STOCKHOLDERS' EQUITY 23,455,463 24,993,077 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 41,855,458 $ 43,808,102 The accompanying notes are an integral part of these unaudited financial statements. 1 ImmuCell Cor

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View this 10-Q filing on SEC EDGAR