ImmuCell Q3 sales fall 8% to $5.5M; 9-month sales up 7% to $20M

IMMUCELL CORP /DE/

2025-Q3 EPS reported $0.20 revenue$20,018,175

Preliminary Q3 2025 product sales $5.5M vs $6.0M in Q3 2024, an 8% decrease.
Nine-month 2025 sales $20.0M, up 7% from $18.7M; trailing twelve-month sales $27.8M, up 16%.
Drop attributed to end of distributor restocking that boosted H1 2025; guidance warned of H2 softening.
Re-Tain Investigational Product use started in controlled study with Michigan State; no revenue expected.
Non-Administrative NADA for Re-Tain submitted Jan. 2025; clearance of contract manufacturer inspection remaining hurdle.

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