ImmuCell Announces Unaudited Financial Results for the Quarter Ended March 31, 2022
PORTLAND, Maine, May 12, 2022 (GLOBE NEWSWIRE) -- ImmuCell Corporation (Nasdaq: ICCC) (“ImmuCell” or the “Company”), a growing animal health company that develops, manufactures and markets scientifically-proven and practical products that improve the health and productivity of dairy and beef cattle, today announced its unaudited financial results for the quarter ended March 31, 2022.
*Represents a record high level of sales for any quarter.
“We are anticipating a response from the FDA during the third quarter of 2022 to our second submission of the last of five significant Technical Sections pertaining to Re-Tain® (specifically the Chemistry, Manufacturing and Controls Technical Section) to complete our New Animal Drug Application. This response will determine whether we will be able to commence market launch early in the fourth quarter of 2022,” concluded Mr. Brigham. “At the same time, we are responding to the observations from a recent pre-approval inspection by the FDA.”
Other Financial Results:
Balance Sheet Data as of March 31, 2022:
Financial Tables to Follow
Condensed Statements of Operations (Unaudited)
Non-GAAP Financial Measures:
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased to $1,434,000 during the quarter ended March 31, 2022 in comparison to $258,000 during the quarter ended March 31, 2021. The figures reported in the table above differ from the calculation of EBITDA in the following two significant ways:
Cautionary Note Regarding Forward-Looking Statements (Safe Harbor Statement):
Grand Opening Networking Reception in Expo Hall
IoT Evolution #TECHSUPERSHOW Networking Live Party
Future of Work #TECHSUPERSHOW Expo Hall Open