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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001102624-05-000083.txt : 20050420
<SEC-HEADER>0001102624-05-000083.hdr.sgml : 20050420
<ACCEPTANCE-DATETIME>20050420135253
ACCESSION NUMBER:		0001102624-05-000083
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050420
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050420
DATE AS OF CHANGE:		20050420

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IMMUCELL CORP /DE/
		CENTRAL INDEX KEY:			0000811641
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		IRS NUMBER:				010382980
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12934
		FILM NUMBER:		05761525

	BUSINESS ADDRESS:	
		STREET 1:		56 EVERGREEN DR
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04103
		BUSINESS PHONE:		2078782770

	MAIL ADDRESS:	
		STREET 1:		56 EVERGREEN DRIVE
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04103
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>immucell8k.htm
<DESCRIPTION>IMMUCELL 8-K
<TEXT>
<table cellpadding="3" border="0" cellspacing="0" width="100%">
<tr><td>
</td></tr>
</table>
<center>
<table border=0 cellpadding=3 cellspacing=0>
<tr><td align="center"><br><br>
<B>UNITED STATES</B><br>
<B>SECURITIES AND EXCHANGE COMMISSION</B><br>
Washington, D.C. 20549<p>
<hr size=1>
<p><b>FORM 8-K<p>
CURRENT REPORT
<p>
Pursuant to Section 13 or 15(d) of the<br>Securities Exchange Act of 1934.
</td>
</tr>
</table>
<p>
<b>
<table border=0 cellpadding=0 cellspacing=0>
<tr><td colspan=5 align=center>
<b>Date of Report: April     20, 2005</b><br>
(Date of earliest event reported)<br><br>
</td></tr>
<tr><td colspan=5 align=center>
<b>ImmuCell Corporation</b><br>
(Exact name of registrant as specified in its charter)
</td></tr>
<tr><td colspan=5><br></td></tr>
<tr>
<td align=center colspan=2 valign="top">
<b>DE</b><br>
(State or other jurisdiction <br>of incorporation)
</td>
<td align=center width="20%" valign="top">
<b>0-15507</b><br>
(Commission File Number)
</td>
<td align=center colspan=2 valign="top">
<b>01-0382980</b><br>
(IRS Employer <br>Identification Number)
</td>
</tr>
<tr><td colspan=5><br></td></tr>
<tr>
<td align="center" colspan=2>
<b>56 Evergreen Drive, Portland, ME</b><br>
(Address of principal executive offices)
</td>
<td>&nbsp;</td>
<td align="center" colspan=2>
<b>04103</b><br>
(Zip Code)
</td>
</tr>
<tr><td colspan=5 align=center><br>
<b>(207) 878-2770</b><br>(Registrant's telephone number, including area code)
</td></tr>
<tr><td colspan=5><br></td></tr>
<tr><td colspan=5 align=center>
<b>Not Applicable</b><br>(Former Name or Former Address, if changed since last report)<br>
</td></tr>
</table>
</center>
<br><br>
</b>
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<br>
<dl>
 <dd><font face="wingdings">o</font> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
 <dd><font face="wingdings">o</font> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
 <dd><font face="wingdings">o</font> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  <br>
 <dd><font face="wingdings">o</font> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  <br>
</dl>
<hr size=1>
<table width=100%>
<tr><td width="100%">
<b>Item 2.02. Results of Operations and Financial Condition</b></b><br>
<br>
On April 20, 2005 ImmuCell Corporation (the "Company") issued a press release announcing earnings results for the three month period ended March 31, 2005. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K.
<br>
<br>The information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act (the "Exchange Act") or otherwise subject to liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Exchange Act, except as expressly set forth by specific reference in such filing.
<p>
<b>Item 9.01. Financial Statements and Exhibits</b></b><br>
<br><b>(a) Financial statements:</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  None<br>
<b>(b) Pro forma financial information:</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  None<br>
<b>(c) Exhibits</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  99.1 &nbsp; &nbsp; &nbsp; <a href="immucellcorporation.htm">Press Release of ImmuCell Corporation dated April     20, 2005</a></b>
<p>
<p>
<hr size=1>
<b><center>SIGNATURE</center></b>
<p>
&nbsp; &nbsp; &nbsp; Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
              signed on its behalf by the undersigned hereunto duly authorized.<p>
</td></tr>
</table>
<br>
<table>
<tr>
<td width="50%" valign=top>
Dated: April     20, 2005<br>
</td>
<td>
<b>IMMUCELL CORPORATION</b>
<p>
By: <u>&nbsp;/s/ Michael  F. Brigham &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </u> <br>
&nbsp; &nbsp; &nbsp;Michael  F. Brigham<br>
&nbsp; &nbsp; &nbsp;<i>President/CEO</i><br>
</td></tr>
</table>
<hr>
<center>
<table border=0 width="100%">
<tr><td colspan=2>
<center><b>Exhibit Index</b></center>
</td>
</tr>
<tr>
<td width=50% align=center><b><u>Exhibit No.</u></b></td>
<td width=50% align=center><b><u>Description</u></b></td>
</tr>
<tr>
<td align=center>99.1</td>
<td align=center>Press Release of ImmuCell Corporation dated April     20, 2005</td>
</tr>
</table>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>immucellcorporation.htm
<DESCRIPTION>IMMUCELL PRESS RELEASE
<TEXT>

<p></p>
<b>ImmuCell Announces 17% Sales Growth and Other Financial Results for First Quarter of 2005</b>
<p>PORTLAND, ME -- 04/20/2005 --  ImmuCell Corporation (NASDAQ: ICCC) today
announced the results of its operations for the three months ended March
31, 2005.
</p>
<p>
During the three months ended March 31, 2005, product sales increased by
17%, or $211,000, to $1,428,000, as compared to the same period in 2004.
During the three months ended March 31, 2005, total revenue increased by
29%, or $355,000, to $1,596,000, as compared to the same period in 2004.
</p>
<p>
"Our product sales growth continued to be driven principally by First
Defense&#174;," commented Michael F. Brigham, President and CEO.  "Our bottom
line benefited from income recognized under the December 2004 product
development and marketing agreement with Pfizer for Mast Out&#174;."
</p>
<p>
During the three months ended March 31, 2005, research and development
expenses increased by 42%, or $92,000, to $314,000, comprising 20% of total
revenues for the quarter.  Research and development expenses net of revenue
from the sale of technology rights and grant income decreased to $153,000
from $222,000 during the three month periods ended March 31, 2005 and 2004,
respectively.  The primary focus of the Company's research and development
efforts continues to be Mast Out&#174;, a Nisin-based treatment for mastitis
in lactating dairy cows.
</p>
<p>
Net income of $259,000, or $0.09 per diluted share, during the three months
ended March 31, 2005, increased by 51%, or $87,000, from $172,000, or $0.06
per diluted share, during the same period in 2004.
</p>
<p>
The Company's cash, cash equivalents and short-term investments increased
by $227,000 to $4,677,000 at March 31, 2005, as compared to $4,450,000 at
December 31, 2004.  Stockholders' equity increased by 3%, or $259,000, to
$7,988,000 at March 31, 2005, as compared to $7,729,000 at December 31,
2004. As of March 31, 2005, the Company had 2,795,000 shares of common
stock outstanding, and 506,000 shares were reserved for outstanding stock
options.
<pre>

                                                    (Unaudited)
                                            Three Months Ended March 31,
(In thousands, except per share amounts)         2005         2004
                                               --------     --------
Revenues:
Product sales                                  $  1,428     $  1,218
Other revenues                                      168           24
                                               --------     --------
Total revenues                                    1,596        1,242

Cost and expenses:
Product costs                                       562          459
Research and development expenses                   314          222
Selling, general and administrative expenses        307          281
                                               --------     --------
Total costs and expenses                          1,183          962
                                               --------     --------

Net operating income                                413          279

Interest and other income, net                       21           11
                                               --------     --------

Income before income taxes                          434          290
Income tax expense                                  175          118
                                               --------     --------
Net income                                     $    259     $    172
                                               ========     ========

Net income per common share:
Basic                                          $   0.09     $   0.06
Diluted                                        $   0.09     $   0.06

Weighted average common shares outstanding:
Basic                                             2,795        2,743
Diluted                                           3,033        2,933


                                             (Unaudited)
                                             At March 31,  At Dec. 31,
                                                 2005         2004
                                               --------     --------
(In thousands)
Cash and short-term investments                $  4,677     $  4,450
Total assets                                      9,850        9,530
Net working capital                               5,240        4,998
Stockholders' equity                           $  7,988     $  7,729
</pre>
ImmuCell Corporation is a biotechnology company that is developing,
manufacturing and selling products that improve animal health and
productivity in the dairy and beef industries.  Press releases and other
information about the Company are available at http://www.immucell.com.

</p>
<pre>
Contact:
Michael F. Brigham
President and Chief Executive Officer
(207) 878-2770 Ext. 3106


</pre>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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