IMMUCELL CORP DE
For the period ended Mar 31, 2025. Filed May 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 14, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31,2025
001-12934
(Commission file number)
(Exact name of registrant as specified in its charter)
| Delaware | 01-0382980 |
|---|---|
| (State of Incorporation) | (I.R.S. Employer Identification No.) |
| 56 Evergreen Drive, Portland, ME | 04103 |
|---|---|
| (Address of principal executive office) | (Zip Code) |
(207) 878-2770
(Registrant’s telephone number)
Securities registered pursuant to Section 12(b) of the Exchange Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.10 par value per share | ICCC | The Nasdaq Capital Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒
The number of shares of the registrant’s common stock outstanding as of May 6, 2025 was 9,037,397.
**TABLE OF CONTENTS
March 31, 2025
| PART I: FINANCIAL INFORMATION | ||
|---|---|---|
| ITEM 1. · Unaudited Financial Statements | ||
| Balance Sheets as of March 31, 2025 and December 31, 2024 | 1 | |
| Statements of Operations during the three-month periods ended March 31, 2025 and 2024 | 2 | |
| Statements of Stockholders’ Equity during the three-month periods ended March 31, 2025 and 2024 | 3 | |
| Statements of Cash Flows during the three-month periods ended March 31, 2025 and 2024 | 4-5 | |
| Notes to Unaudited Financial Statements | 6-21 | |
| ITEM 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 22-38 |
| ITEM 3. | Quantitative and Qualitative Disclosures about Market Risk | 39 |
| ITEM 4. | Controls and Procedures | 39 |
| PART II: OTHER INFORMATION | ||
| ITEM 1 THROUGH 6. | 40-50 | |
| Signatures | 51 | |
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