ICCC on Nasdaq

IMMUCELL CORP /DE/

American in vitro and in vivo diagnostic substances company based in Portland. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerICCC on Nasdaq2
  • IndustryIn Vitro & In Vivo Diagnostic Substances2
  • HeadquartersPortland, United States2
  • Incorporated inDE3
  • Business address56 Evergreen Dr, Portland, Me 041033
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI5493003G4YVJPVDW6U672
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 21170882

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ImmuCell Corporation, founded in 1982 and a SEC-registered public company since 1987, is an animal health biologics company focused on the development, manufacture, and commercialization of products intended to improve the survivability, health, and long-term performance of neonatal dairy and beef calves. The Company's practical, science-based solutions help prevent calf scours, one of the most prevalent diseases in neonatal calves worldwide that accounts for 30-40% of pre-weaning mortality in many production systems. The Company’s primary product line, First Defense ® , utilizes hyperimmunized bovine colostrum to provide pathogen-specific antibodies and other bioactive components. First Defense ® is designed to provide Immediate Immunity™ through orally delivered antibodies against the principal viral and bacterial causes of neonatal calf diarrhea (scours), including Escherichia coli (E…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

41.4%Gross margin5
6.0%Operating margin5
-3.8%Net margin5
4.3%Revenue growth, 20255
-3.8%Return on equity5
0.28×Debt to equity5
$1.2MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Corporate Segment, Scours brought in 99% of the revenue IMMUCELL CORP /DE/ broke down this way in fiscal 2025.

  1. Corporate Segment, Scours$27.4M599%up 4% from 2024
  2. Corporate Segment, Mastitis$196.4K51%up 10% from 2024
Business segments by year
Business segments20242025
Corporate Segment, Scours$26.3M$27.4M
Corporate Segment, Mastitis$178.9K$196.4K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue59¢$16.2M
  • Research and development11¢$3.0M
  • Other costs30¢$8.4M
  • Income tax0¢$11.6K

Out of $27.6M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending51¢$1.3M
  • Kept or used elsewhere49¢$1.2M

Out of $2.5M of cash from operations.5

Financial statements

Revenue67895$27.6M in 2025+101% since 2019
0$10.0M$20.0M$30.0M2019: $13.7M$13.7M20192020: $15.3M$15.3M2020+12%2021: $19.2M$19.2M2021+25%2022: $18.6M$18.6M2022−4%2023: $17.5M$17.5M2023−6%2024: $26.5M$26.5M2024+52%2025: $27.6M$27.6M2025+4%
Gross profit107811125$11.4M in 2025+70% since 2019
0$5.0M$10.0M$15.0M2019: $6.7M$6.7M20192020: $6.9M$6.9M2020+2%2021: $8.7M$8.7M2021+26%2022: $7.6M$7.6M2022−12%2023: $3.9M$3.9M2023−49%2024: $7.9M$7.9M2024+105%2025: $11.4M$11.4M2025+44%
Operating income107811125$1.6M in 2025
-$6.0M-$4.0M-$2.0M0$2.0M2019: -$953.9K-$953.9K20192020: -$1.4M-$1.4M2020+45%2021: $257.4K$257.4K20212022: -$2.3M-$2.3M20222023: -$5.7M-$5.7M2023+150%2024: -$1.6M-$1.6M2024−71%2025: $1.6M$1.6M2025
Net income1013149125-$1.0M in 2025−20% since 2019
-$6.0M-$4.0M-$2.0M02019: -$1.3M-$1.3M20192020: -$1.0M-$1.0M2020−21%2021: -$78.3K-$78.3K2021−92%2022: -$2.5M-$2.5M2022+3085%2023: -$5.8M-$5.8M2023+132%2024: -$2.2M-$2.2M2024−63%2025: -$1.0M-$1.0M2025−52%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Product sales$27.6M$26.5M
Costs of goods sold$16.2M$18.6M
Gross profit$11.4M$7.9M
Product development expenses$3.0M$3.9M
Sales and marketing expenses$3.6M$3.5M
Administrative expenses$3.2M$2.2M
Operating expenses$9.8M$9.6M
NET OPERATING INCOME (LOSS)$1.6M-$1.6M
Other expenses, net$2.7M$506.4K
LOSS BEFORE INCOME TAXES-$1.0M-$2.1M
Income tax expense$11.6K$10.1K
NET LOSS-$1.0M-$2.2M
Basic weighted average common shares outstanding (in shares)9.0M shares8.2M shares
Basic net loss per share (in dollars per share)-$0.12-$0.26
Diluted weighted average common shares outstanding (in shares)9.0M shares8.2M shares
Diluted net loss per share (in dollars per share)-$0.12-$0.26

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Leadership

Who has led IMMUCELL CORP /DE/, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael F. Brigham2006–2022
  2. Boekhorst Paul Francis Olivier Te2025–now

President

  1. Michael F. Brigham2006–2022
  2. Boekhorst Paul Francis Olivier Te2025–now

Chief financial officer

  1. Timothy C. Fiori2025–now
2010201520202025
Board members and other officers (19)

Timeline

  1. Nov 7, 2025New chief executive Boekhorst Paul Francis Olivier Te becomes CEO18
  2. Mar 29, 2006New chief executive Michael F. Brigham becomes CEO19
  3. Feb 9, 1987Founded IMMUCELL CORP /DE/ is founded2

Filings

180 filings to the SEC since October 2021: 6 annual reports, 17 quarterly reports, 79 major events, 57 insider forms, 4 large holders, 17 other. The latest 20:

  1. Oct 13, 20268-K EDGAR
  2. Aug 13, 202610-Q EDGAR
  3. Aug 13, 20268-K EDGAR
  4. Jul 9, 20268-K EDGAR
  5. Jun 22, 20264 FORM 4 TE BOEKHORST, OLIVIER EDGAR
  6. Jun 17, 20268-K EDGAR
  7. Jun 10, 20268-K EDGAR
  8. May 14, 20268-K EDGAR
  9. May 14, 202610-Q EDGAR
  10. May 13, 202610-K/A EDGAR
  11. May 8, 20268-K EDGAR
  12. Apr 24, 2026DEF 14A EDGAR
  13. Apr 23, 20263 FORM 3 DIMARCO, ANTHONY 04/23/26 EDGAR
  14. Apr 23, 20263 FORM 3 GUILLEMETTE, GILLES 04-23-2026 EDGAR
  15. Apr 16, 20264 FORM 4 TURNER, KATHY 04/15/26 EDGAR
  16. Apr 16, 20264 FORM 4, TOMSCHE, DAVID 04/15/26 EDGAR
  17. Apr 16, 20264 FORM 4 BASSE GLORIA 04/15/26 EDGAR
  18. Apr 16, 20264 FORM 4 WAINMAN, PAUL 04/15/26 EDGAR
  19. Apr 14, 2026PRE 14A EDGAR
  20. Apr 14, 20264 FORM 4 GATHAGAN, BRYAN 04/14/26 EDGAR

The 180 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

8 open-market trades by officers, directors and large owners since October 2021: 8 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 18, 2026te Boekhorst Paul Francis OlivierPresident and CEOBuy8,000$9.50$76.0KForm 4
Dec 4, 2025te Boekhorst Paul Francis OlivierPresident and CEOBuy2,432$5.50$13.4KForm 4
Dec 3, 2025te Boekhorst Paul Francis OlivierPresident and CEOBuy3,598$5.05$18.2KForm 4
Dec 3, 2025te Boekhorst Paul Francis OlivierPresident and CEOBuy6,077$5.02$30.5KForm 4
Dec 2, 2025te Boekhorst Paul Francis OlivierPresident and CEOBuy3,708$4.87$18.1KForm 4
Nov 25, 2025Tomsche David ScottDirectorBuy3,266$4.76$15.6KForm 4
Jun 12, 2025Gathagan Bryan K.DirectorBuy1,000$6.32$6.3KForm 4
Jun 13, 2022Cunningham DavidDirectorBuy1,000$8.00$8.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 30. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC268,130$2.7M0.0%+7,803
Morgan Stanley233,910$2.4M0.0%+12,194
Renaissance Technologies LLC171,089$1.7M0.0%+19,300
Cresset Asset Management, LLC135,267$1.4M0.0%No change
Geode Capital Management, LLC72,270$726.5K0.0%+6,505
Dimensional Fund Advisors LP58,452$587.4K0.0%+2,422
Bleichroeder LP50,000$502.5K0.1%−51,594
Steadtrust LLC45,370$456.0K0.2%−9,000
Mesirow Financial Investment Management, Inc.42,481$426.9K0.0%No change
Citadel Advisors LLC40,503$407.1K0.0%+4,807
Vanguard Fiduciary Trust Co37,766$379.5K0.0%−4,903
Strategic Financial Services, Inc.37,000$371.9K0.0%No change
HighTower Advisors, LLC24,354$244.8K0.0%No change
BlackRock, Inc.22,860$229.7K0.0%+4,674
Jane Street Group, LLC15,751$158.3K0.0%New
Quadrature Capital Ltd15,415$154.9K0.0%New
Northern Trust Corp14,721$147.9K0.0%−26,897
Mercer Global Advisors Inc /adv12,000$120.6K0.0%New
Bailard, Inc.10,102$101.5K0.0%No change
Shufro Rose & Co LLC10,000$100.5K0.0%−25,000
Militia Capital Management LLC10,000$100.5K0.0%−44,000
Hm Payson & Co4,000$40.2K0.0%No change
UBS Group AG1,000$10.1K0.0%−113
Osaic Holdings, Inc.391$3.9K0.0%No change
Fmr LLC160$1.6K0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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