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<SEC-DOCUMENT>0001102624-07-000294.txt : 20071105
<SEC-HEADER>0001102624-07-000294.hdr.sgml : 20071105
<ACCEPTANCE-DATETIME>20071105123401
ACCESSION NUMBER:		0001102624-07-000294
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071102
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071105
DATE AS OF CHANGE:		20071105

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:		071213003

	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: November  02, 2007</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 width="40%" valign="top">
<b>DE</b><br>
(State or other jurisdiction <br>of incorporation)
</td>
<td align=center width="20%" valign="top">
<b>001-12934</b><br>
(Commission File Number)
</td>
<td align=center colspan=2 width="40%" 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, Maine</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 November 2, 2007 ImmuCell Corporation (the "Company") issued a press release announcing its financial results for the three and nine month periods ended September 30, 2007.  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.  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) Shell company transactions:</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  None<br>
<b>(d) Exhibits</b><br>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  99.1 &nbsp; &nbsp; &nbsp; <a href="immucellcorporation.htm">Press Release of ImmuCell Corporation dated November  02, 2007</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: November  02, 2007<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 and 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 November  02, 2007</td>
</tr>
</table>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>immucellcorporation.htm
<DESCRIPTION>IMMUCELL PRESS RELEASE
<TEXT>

<p></p>
<b>ImmuCell Announces Financial Results for Third Quarter of 2007</b>
<p>PORTLAND, ME -- 11/02/2007 --  ImmuCell Corporation (NASDAQ: ICCC) today
announced the results of its operations for the three and nine month
periods ended September 30, 2007.
</p>
<p>
For the three month period ended September 30, 2007, product sales
decreased by 7%, or $76,000, to $983,000 in comparison to the same period
in 2006.  For the nine month period ended September 30, 2007, product sales
increased by 1%, or $36,000, to $3,283,000 compared to the same period in
2006.
</p>
<p>
During the third quarter of 2007, ImmuCell announced that Pfizer Animal
Health elected to terminate its product development and marketing agreement
covering Mast Out&#174; and return the product rights to ImmuCell.  As a
result of this termination, the Company recognized the remaining deferred
income from non-refundable milestone payments received from Pfizer and
wrote off the remaining unamortized cost of technology rights acquired in
November 2004.  This resulted in a net increase to income before income
taxes of approximately $602,000 during the third quarter of 2007, with no
impact on cash.
</p>
<p>
Including the impact of the accounting described above, the Company
reported income before income taxes of $605,000 during the three month
period ended September 30, 2007 in comparison to $291,000 during the same
period in 2006. The Company recognized income before income taxes of
$1,029,000 during the nine month period ended September 30, 2007 compared
to $832,000 during the same period in 2006.
</p>
<p>
The Company reported net income of $354,000 ($0.12 per diluted share)
during the three month period ended September 30, 2007 in comparison to
$171,000 ($0.06 per diluted share) during the same period in 2006. The
Company recognized net income of $590,000 ($0.19 per diluted share) during
the nine month period ended September 30, 2007 compared to $492,000 ($0.16
per diluted share) during the same period in 2006.
</p>
<p>
"Sales of our lead product, First Defense&#174;, increased by 3% during the
first nine months of the year," said Michael F. Brigham, President and CEO.
"Excluding non-cash amortization expense related to an intangible
technology asset, product development expenses increased by 43%, or
$78,000, during the third quarter of 2007 compared to the same period in
2006, principally reflecting our initial efforts to fund the development of
Mast Out&#174; internally."
</p>
<p>
Cash, cash equivalents and short-term investments decreased by 18%, or
$1,186,000, to $5,428,000 at September 30, 2007 as compared to $6,614,000
at December 31, 2006.  The decrease was largely due to an ongoing effort to
become compliant with current Good Manufacturing Practices (cGMP)
regulations.  Shareholders' equity increased by 7%, or $630,000, to
$9,962,000 at September 30, 2007 as compared to $9,332,000 at December 31,
2006.  The Company had 2,892,000 shares of common stock outstanding as of
September 30, 2007.
</p>
<p>
<pre>
                                          (Unaudited)       (Unaudited)
                                             Three             Nine
                                          Months Ended      Months Ended
                                          September 30,     September 30,
                                        ----------------- -----------------
(In thousands, except per share
 amounts)                                 2007     2006     2007     2006
                                        -------- -------- -------- --------
Revenues:
Product sales                           $    983 $  1,059 $  3,283 $  3,246
Other revenues                               949      134    1,283      332
                                        -------- -------- -------- --------
Total revenues                             1,932    1,193    4,566    3,578

Cost and expenses:
Product costs                                476      466    1,618    1,361
Product development expenses                 589      237    1,149      702
Selling, general and administrative
 expenses                                    330      272      984      872
                                        -------- -------- -------- --------
Total costs and expenses                   1,395      975    3,751    2,935
                                        -------- -------- -------- --------

Net operating income                         537      218      815      643

Interest and other income                     68       73      214      189
                                        -------- -------- -------- --------

Income before income taxes                   605      291    1,029      832
Income tax expense                           251      120      439      340
                                        -------- -------- -------- --------
Net income                              $    354 $    171 $    590 $    492
                                        ======== ======== ======== ========

Net income per common share:
Basic                                   $   0.12 $   0.06 $   0.20 $   0.17
Diluted                                 $   0.12 $   0.06 $   0.19 $   0.16

Weighted average common shares
 outstanding:
Basic                                      2,897    2,910    2,899    2,885
Diluted                                    3,013    3,054    3,049    3,050




                                                               (Unaudited)
                                                  At December  At September
(In thousands)                                      31, 2006     30, 2007
                                                  ------------ ------------
Cash, cash equivalents and short-term investments $      6,614 $      5,428
Total assets                                            11,364       10,280
Net working capital                                      6,934        6,564
Stockholders&#146; equity                              $      9,332 $      9,962

</pre>
</p>
<p>
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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