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<SEC-DOCUMENT>0001102624-08-000299.txt : 20081106
<SEC-HEADER>0001102624-08-000299.hdr.sgml : 20081106
<ACCEPTANCE-DATETIME>20081106094134
ACCESSION NUMBER:		0001102624-08-000299
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20081104
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20081106
DATE AS OF CHANGE:		20081106

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:		081165552

	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 CORPORATION 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  04, 2008</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 4, 2008 ImmuCell Corporation (the "Company") issued a press release announcing earnings results for the three and nine month periods ended September 30, 2008.  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.
<br>
<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  04, 2008</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  06, 2008<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  04, 2008</td>
</tr>
</table>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>immucellcorporation.htm
<DESCRIPTION>IMMUCELL CORPORATION PRESS RELEASE
<TEXT>

<p></p>
<b>ImmuCell Announces Financial Results for Third Quarter</b>
<p>PORTLAND, ME -- 11/04/2008 --  ImmuCell Corporation (NASDAQ: ICCC) today
announced the results of its operations for the three and nine-month
periods ended September 30, 2008.
</p>
<p>
For the three-month period ended September 30, 2008, product sales
decreased by 6%, or $59,000, to $924,000 in comparison to the same period
in 2007.  For the nine-month period ended September 30, 2008, product sales
increased by 3%, or $99,000, to $3,381,000 in comparison to the same period
in 2007.
</p>
<p>
"A 2% increase in sales of our lead product, First Defense&#174;, during the
nine-month period ended September 30, 2008, is less than we had budgeted
but is better than a decline in this very tough economic environment,"
commented Michael F. Brigham, President and CEO.
</p>
<p>
Product development expenses decreased by 18%, or $104,000, to $485,000
during the three-month period ended September 30, 2008 in comparison to the
same period in 2007.  During the three-month period ended September 30,
2007, product development expenses included approximately $329,000 in
non-cash amortization expense pertaining to a technology asset that was
written off during the third quarter of 2007.  Product development expenses
increased by 8%, or $91,000, to $1,241,000 during the nine-month period
ended September 30, 2008 in comparison to the same period in 2007.  During
the nine-month period ended September 30, 2007, product development
expenses included approximately $439,000 in non-cash amortization expense
pertaining to that technology asset.
</p>
<p>
The net loss was $(268,000) (or $(0.09) per share) during the three-month
period ended September 30, 2008 in contrast to net income of $354,000 (or
$0.12 per share) during the same period in 2007. Technology licensing
revenue decreased by $931,000 (or 100%), as the result of the product
development and marketing agreement that was terminated during the third
quarter of 2007.
</p>
<p>
The net loss was $(429,000) (or $(0.15) per share) during the nine-month
period ended September 30, 2008 in contrast to net income of $590,000 (or
$0.19 per diluted share) during the same period in 2007.  Technology
licensing revenue decreased by $1,248,000 (or 100%), as the result of the
product development and marketing agreement that was terminated during the
third quarter of 2007.
</p>
<p>
"Our net loss is in line with our earlier expectations and primarily
reflects our strategic decision to make a significant and controlled
investment in the development of Mast Out&#174;," commented Dr. Joseph H.
Crabb, Vice President and Chief Scientific Officer.  "We have enrolled
approximately 40% of the qualified cases required to reach our targeted
size for the pivotal effectiveness study."
</p>
<p>
Cash, cash equivalents and short-term investments decreased by 6%, or
$336,000, to $5,076,000 at September 30, 2008 as compared to $5,412,000 at
December 31, 2007.  Stockholders' equity decreased by 3%, or $345,000, to
$9,712,000 at September 30, 2008 as compared to $10,057,000 at December 31,
2007.  The Company had 2,895,000 shares of common stock outstanding as of
September 30, 2008.
</p>
<p>
<pre>
                                   (Unaudited)           (Unaudited)
                                Three Months Ended     Nine Months Ended
                                   September 30,          September 30,
                               ---------------------- ---------------------
(In thousands, except per
 share amounts)                   2008        2007       2008       2007
                               ----------  ---------- ---------  ----------
Revenues:
Product Sales                  $      924  $      983 $   3,381  $    3,283
Other Revenues                         --         949         5       1,283
                               ----------  ---------- ---------  ----------
Total Revenues                        924       1,932     3,386       4,566

Cost and expenses:
Product costs                         621         476     1,882       1,618
Product development expenses          485         589     1,241       1,149
Selling, general and
 administrative expenses              368         329     1,139         984
                               ----------  ---------- ---------  ----------
Total costs and expenses            1,474       1,394     4,262       3,751
                               ----------  ---------- ---------  ----------

Net operating (loss) income          (550)        538      (876)        815

Interest and other income              50          67       166         214
                               ----------  ---------- ---------  ----------

(Loss) income before income
 taxes                               (500)        605      (710)      1,029
Income tax (benefit) expense         (232)        251      (281)        439
                               ----------  ---------- ---------  ----------
Net (loss) income              $     (268) $      354 $    (429) $      590
                               ==========  ========== =========  ==========

Net (loss) income per common
 share:
Basic                          $    (0.09) $     0.12 $   (0.15) $     0.20
Diluted                        $    (0.09) $     0.12 $   (0.15) $     0.19
                               ==========  ========== =========  ==========

Weighted average common shares
 outstanding:
Basic                               2,895       2,897     2,893       2,899
Diluted                             2,895       3,013     2,893       3,049



                                     (Unaudited)
                                   At September 30,       At December 31,
(In thousands)                           2008                  2007
                                 --------------------  --------------------
Cash, cash equivalents and
 short-term investments          $              5,076  $              5,412
Total assets                                   10,190                10,412
Net working capital                             6,368                 6,710
Stockholders' equity             $              9,712  $             10,057
</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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