---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-086101"
form_type: "8-K"
ticker: "ICCC"
cik: "0000811641"
company_name: "IMMUCELL CORP /DE/"
filed_at: "2023-11-13T23:59:59+00:00"
generated_at: "2026-06-08T05:55:01.389992+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ImmuCell Q3 product sales up 13% to $5.4M but gross margin halved on contamination events; net loss widens

## Summary
- Product sales $5.4M (+13% YoY) for Q3 2023; nine-month sales $12.4M (-16% YoY).
- Gross margin fell to 23% (Q3 2023) from 38% (Q3 2022) due to production contamination and inventory write-offs.
- Net loss $940k ($0.12/share) vs $655k ($0.08/share) in Q3 2022; nine-month loss $4.6M ($0.60) vs $826k ($0.11).
- Cash decreased to $2.0M from $5.8M at Dec 2022; no draw on $1M credit line.
- Finished goods produced rose sequentially from $3.3M to $4M to $5.3M across Q1-Q3; goal is $6M/quarter (80% of capacity).

## SEC filing metadata
- accession: 0001213900-23-086101
- form_type: 8-K
- ticker: ICCC
- cik: 0000811641
- company_name: IMMUCELL CORP /DE/
- filed_at: 2023-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811641/000121390023086101/0001213900-23-086101-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811641/000121390023086101/ea188130-8k_immucell.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-086101
- JSON: https://secwatch.observer/filing/0001213900-23-086101.json
- Plain text: https://secwatch.observer/filing/0001213900-23-086101.txt

## Key facts
- Earnings Releases
  IMMUCELL CORP /DE/ reported the quarter ended September 30, 2023 results: revenue $5.4 million, net income Net loss was $940,000, or $0.12 per basic share, EPS $0.12 per basic share.
  - Period: the quarter ended September 30, 2023
  - Revenue: $5.4 million
  - Net income: Net loss was $940,000, or $0.12 per basic share
  - EPS: $0.12 per basic share
  - Result: reported results
  source text: to traditional antibiotics that is subject to FDA approval,” concluded Mr. Brigham. 1 of 6 Certain Financial Results: ● Product sales increased by 13%, or $600,000, to $5.4 million during the three-month period ended September 30, 2023 compared to $4.8 million during the three-month period ended September 30, 2022. ● Product sales decreased by 16%, or $2.3
  evidence_url: https://www.sec.gov/Archives/edgar/data/811641/000121390023086101/0001213900-23-086101-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.