Immucell says preliminary Q4 revenue $5.1M vs. $3.9M last year

ImmuCell Corporation announced preliminary, unaudited sales results for the fourth quarter of 2023, which ended December 31..Total sales during the three-month period ended December 31, were 30% above the comparable period ended December 31, 2022. Total sales during the year ended December 31 were 6% less than the year ended December 31, 2022, primarily due to lower production output during the first ten months of the year caused by previously disclosed contamination events and a pause in production necessary to remediate these events.”We believe that we are on the right track to increase production output, but we still have more work to do to catch up to product demand,” commented Michael F. Brigham, President and CEO of ImmuCell. “We anticipate that we are in a good position to move past the contamination events that plagued us during the first ten months of 2023 and to execute on our plan to resume sales growth in 2024.”..As the work to increase production output to meet demand continues, the backlog of orders was approximately $9.4 M as of December 31 which is an increase from approximately $8.9M, $8 M and $7.5 M as of September 30, 2023, June 30, and March 31, 2023, respectively, and a significant increase from approximately $2.5 M as of December 31, 2022. “In addition, we continue to work to achieve FDA approval to commercialize Re-Tain,” Mr. Brigham concluded. “We expect a response from the FDA to our third submission of the CMC Technical Section no later than May 2024.”