IMMUCELL CORP /DE/ 8-K

What Happened

• ImmuCell Corporation (ICCC) filed a Form 8-K on January 8, 2026 to announce preliminary, unaudited sales results for the three‑month and twelve‑month periods ended December 31, 2025 and to disclose material impairments. The company said it will record about $3.6 million in non‑cash impairment write‑downs for the quarter ended December 31, 2025.
• The largest portion (~$2.9 million) relates to Re‑Tain® property, plant and equipment after the company paused further investment in Re‑Tain® following an FDA Incomplete Letter and unsatisfactory handling of inspectional deficiencies by its contract manufacturer. Re‑Tain® assets had a net book value of about $15.5 million as of September 30, 2025; ImmuCell expects to repurpose most of those assets for expanded production of its lead product, First Defense®.
• Additional charges include a roughly $0.1 million non‑cash write‑down of other PPE and a $0.6 million write‑down mainly for work‑in‑process colostrum inventory judged unfit for processing into First Defense®. The company said these are non‑cash and are not expected to cause material future cash outflows.

Key Details

• Filing date: January 8, 2026 (Form 8‑K; items 2.02, 2.06, 8.01).
• Total estimated non‑cash impairment: approximately $3.6 million for Q4 2025.
  • Re‑Tain® impairment estimate: ~ $2.9 million (net book value of Re‑Tain® assets was ~$15.5M as of 9/30/2025).
  • Other PPE: ~$0.1 million; colostrum work‑in‑process inventory: ~$0.6 million.
• Corporate actions and communications:
  • Press release furnished as Exhibit 99.1 (Jan 8, 2026).
  • Conference call to discuss top‑line results and strategy: Jan 9, 2026 at 9:00 AM ET (replay available through Jan 16).
  • Full unaudited quarter and year results planned for release after market close on Feb 25, 2026; conference call to discuss those results on Feb 26, 2026 (replay available through Mar 5).

Why It Matters

• The $3.6M charge is non‑cash, so it reduces reported asset values and earnings for the quarter/year but does not directly require cash outlays. Investors should note it may lower reported net income for the period.
• The decision to pause Re‑Tain® investment and shift focus toward First Defense® is a strategic change that could affect future product mix and revenue sources; repurposing assets could limit long‑term write‑offs but timing and outcomes remain uncertain.
• Results are preliminary and unaudited; investors should watch the full results release on Feb 25, 2026 and the Feb 26 conference call for finalized financials and management’s guidance.