secwatch.observer — SEC 8-K summary
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Issuer:     IMMUCELL CORP /DE/ (ICCC)
CIK:        0000811641
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001213900-23-086101
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811641/000121390023086101/0001213900-23-086101-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811641/000121390023086101/ea188130-8k_immucell.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-086101

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