ImmuCell(US:ICCC)2025-11-14 14:00Company Overview - ImmuCell focuses on growth in sales of the First Defense product line and enhancing subclinical mastitis treatment with Re-Tain[10] - The company addresses the $2 billion annual economic harm to the dairy industry due to mastitis infections with Re-Tain, aiming to reduce antibiotics in the food chain[10] - The company completed an investment to increase First Defense production capacity to over $30 million in annual sales value[29, 51] Product Lines and Market Opportunity - The U S market opportunity for calf-level products to prevent scours is about $311 million annually[31, 55] - The U S market opportunity for calf-level and dam-level vaccine products used to prevent scours is estimated at about $818 million[31, 55] - Mastitis causes approximately $2 billion in economic loss to the dairy industry each year[10, 32, 56, 57] Financial Performance - As of September 30, 2025, the company had $39 million in cash and cash equivalents[88] - As of October 31, 2025, the company's market capitalization was $564 million, with a stock price of $624 per share and 905 million shares outstanding[88] - Product sales for the nine-month period ended September 30, 2025, were $20 million, compared to $187 million for the same period in 2024[91] - Gross margin for the three-month period ended September 30, 2025, was 43%, compared to 26% for the same period in 2024[91]