ImmuCell Announces Preliminary, Unaudited Sales Results for Q3 2023 - Seite 2

“We believe that we are on the right track to increase production output, but we still have more work to do to catch up to product demand,” commented Michael F. Brigham, President and CEO of ImmuCell. “Due to a six-month delay by a key equipment fabricator, we were not able to benefit from all the new equipment installations and facility expansions needed to increase our production output until the beginning of this year. However, before we could benefit from this increased capacity, we incurred a contamination event in our production process that forced a slowdown in production to remediate. We now anticipate that we are in a good position to move past the contamination events that plagued us during the first part of the year and put implementation of our plan to rebuild for growth back on track, as indicated by the growth in both production and sales during the three-month period ended September 30, 2023.”

“In addition, we continue to work to achieve FDA approval to commercialize Re-Tain,” Mr. Brigham concluded. “We made our third submission of the CMC Technical Section in August, which is subject to a six-month review by the FDA.”

Since the first quarter of 2020, the Company has been providing a preliminary look at its top line results soon after the close of the quarter. The Company expects to provide this prompt, preliminary report on product sales until further notice going forward.

Conference Call:
The Company will host a conference call on Tuesday, November 14, 2023 at 9:00 AM ET to discuss the full financial results for the quarter ended September 30, 2023. Interested parties can access the conference call by dialing [phone] (toll free) or [phone] (international) at 9:00 AM ET. A teleconference replay of the call will be available until November 21, 2023 at [phone] (toll free) or [phone] (international), utilizing replay access code #5077962. Investors are encouraged to review the Company’s updated Corporate Presentation slide deck that provides an overview of the Company’s business and is available under the “Investors” tab of the Company’s website at www.immucell.com, or by request to the Company.