<SEC-DOCUMENT>0001213900-17-008650.txt : 20170814
<SEC-HEADER>0001213900-17-008650.hdr.sgml : 20170814
<ACCEPTANCE-DATETIME>20170814160432
ACCESSION NUMBER:		0001213900-17-008650
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20170814
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170814
DATE AS OF CHANGE:		20170814

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:		171030099

	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>f8k081417_immucellcorp.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CURRENT
REPORT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pursuant
to Section 13 or 15(d) of the</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Securities
Exchange Act of 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report: August 14, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date
of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>ImmuCell
Corporation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DE</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-12934</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>01-0382980</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction <BR>
of incorporation)</FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer </FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification Number)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>56 Evergreen Drive</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Portland, Maine </B></P></TD>
    <TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 49%; border-bottom: black 1.5pt solid; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>04103</B></FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>207-878-2770</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B>(Registrant&rsquo;s
telephone number, including area code)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Not
Applicable</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B>(Former Name or Former Address, if changed since last report)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
growth company&nbsp;&nbsp;&nbsp; &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.&nbsp;&nbsp;&nbsp;
&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; padding: 0pt 0pt 3pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 36pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
2.02.&nbsp; Results of Operations and Financial Condition</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 14, 2017 ImmuCell Corporation (the &ldquo;Company&rdquo;) issued a press release announcing unaudited financial results for
the three-month and six-month periods ended June 30, 2017. 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
information shall not be deemed &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934 (the &ldquo;Exchange
Act&rdquo;) 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 or the Exchange Act, except as expressly set forth by specific reference in such filing.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
9.01.&nbsp; Financial Statements and Exhibits.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibits</U>.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following exhibit relating to Item 2.02 shall be deemed to be furnished, and not filed:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><A HREF="f8k081417ex99i_immucell.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release of ImmuCell Corporation dated August 14, 2017.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; padding: 0pt 0pt 3pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SIGNATURE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IMMUCELL
    CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
    August 14, 2017</FONT></TD>
    <TD STYLE="width: 4%; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 36%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
    </I>Michael F. Brigham</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael
    F. Brigham</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President,
    Chief Executive Officer and<BR>
Principal Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; padding: 0pt 0pt 3pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
Index</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; border-bottom: Black 1.5pt solid; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    No.</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; border-bottom: Black 1.5pt solid; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif">99.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif"><A HREF="f8k081417ex99i_immucell.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release of ImmuCell Corporation dated August 14, 2017</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="margin: 0pt 0pt 0pt 0; font: 10pt Times New Roman, Times, Serif"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>f8k081417ex99i_immucell.htm
<DESCRIPTION>PRESS RELEASE OF IMMUCELL CORPORATION DATED AUGUST 14, 2017
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><IMG SRC="ex99i_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ImmuCell
Announces Financial Results for Second Quarter of 2017</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>FOR
IMMEDIATE RELEASE</U></I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PORTLAND,
Maine &mdash; August 14, 2017 &mdash; <B>ImmuCell Corporation (NasdaqCM: ICCC), </B>a growing animal health company that develops,
manufactures and markets scientifically-proven products that improve health and productivity in the dairy and beef industries,
today announced unaudited financial results for the quarter ended June 30, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Product
                                         sales for the three-month period ended June 30, 2017 totaled $1 7 million compared to
                                         $2.4 million in the comparable quarter of 2016, a decrease of 26%. Domestic product sales
                                         decreased by 19%, or $382,000, and international product sales decreased by 60%, or $244,000,
                                         in comparison to the same period during 2016.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Product
                                         sales for the six-month period ended June 30, 2017 totaled $5 3 million, essentially
                                         flat compared to $5.4 million for the first six months of 2016. Domestic product sales
                                         decreased by 6%, or $293,000, and international product sales increased by 33%, or $224,000,
                                         in comparison to the same period during 2016.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Product
                                         sales for the twelve-month period ended June 30, 2017 of $9,475,000 represent a compound
                                         annual growth rate of 13.9% during the three-year period ended June 30, 2017.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
                                         (loss) was ($218,000), or ($0.05) per share, for the second quarter of 2017 in comparison
                                         to a net (loss) of ($9,000), or less than ($0.01) per share, during the second quarter
                                         of 2016.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
                                         income was $366,000, or $0.07 per diluted share, during the six-month period ended June
                                         30, 2017 in comparison to $443,000, or $0.11 per diluted share, during the six-month
                                         period ended June 30, 2016.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
quarter 2017 product sales were impacted by a record level of product sales during the first quarter of 2017. The first quarter
is historically the peak selling season for the Company&rsquo;s <B>First Defense<SUP>&reg;</SUP></B> product line. The record sales
of the first quarter may have resulted in some distributors being fully stocked going into the second quarter of 2017. Further,
sales during the second quarter of the previous year included approximately $1 3 million in backlog orders that had been unfulfilled
from earlier months. Since the third quarter of 2016, the Company has had sufficient available inventory and is shipping in accordance
to the current demand of its distributors.</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --> of 5</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; padding: 0pt 0pt 3pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;We
expect to build on the revenue generated in the first half of 2017 and report positive sales growth for the six-month and twelve-month
periods ending December 31, 2017, in comparison to the same periods during 2016,&rdquo; commented Michael F. Brigham, President
and CEO.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Market
Conditions:</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market
conditions in the dairy and beef industries, including milk pricing and prices for calves, weakened during 2016 in comparison
to 2015. Milk prices have made modest improvements going into 2017 over the annual averages for 2016 and 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Other
Income Statement Data:</U></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
                                         operating (loss) income was ($265,000) and $21,000 during the three-month periods ended
                                         June 30, 2017 and 2016, respectively.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
                                         operating income was $653,000 and $720,000 during the six-month periods ended June 30,
                                         2017 and 2016, respectively.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Balance
Sheet Data as of June 30, 2017:</U></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash,
                                         cash equivalents and short-term investments decreased to $4 3 million at June 30, 2017
                                         from $10.6 million at December 31, 2016.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
                                         working capital decreased to $3.8 million at June 30, 2017 from $12 3 million at December
                                         31, 2016.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"></TD><TD STYLE="width: 18pt; font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholders&rsquo;
                                         equity increased to $20.2 million at June 30, 2017 from $19 7 million at December 31,
                                         2016.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Product
Development and Regulatory Update:</U></B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the fourth quarter of 2017, the Company expects to achieve regulatory approval of <B>First Defense<SUP>&reg;</SUP> Tri-ShieldTm,
</B>a new formulation of its bovine antibodies that combines the existing bivalent claims (against <I>E. coli </I>and coronavirus)
of the <B>First Defense<SUP>&reg;</SUP></B> capsule with a new rotavirus claim in a gel tube delivery format. The Company is working
to also achieve regulatory approval of its bivalent gel tube formulation that is currently sold without disease claims as <B>First
Defense Technology<SUP>&reg;</SUP></B>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Update
on New Mastitis Product:</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the third quarter of 2016, the Company commenced construction, near its existing Portland, Maine facility, of a new
manufacturing facility that would enable ImmuCell to generate a purified, pharmaceutical-grade Nisin drug substance supply at
commercial scale. The facility is designed to have ample floor space for a second production line to be purchased and
installed in the future to effectively double production output after commercial acceptance of the product is demonstrated.
As planned, equipment installation was initiated during the third quarter of 2017, with installation and qualification
expected to be complete by year end. To gain regulatory approval of this product, three validation batches must be produced
at commercial scale, a detailed CMC Technical Section must be prepared and submitted to the FDA and successful FDA site
inspection(s) must be achieved. The Company expects to make the first submission of the CMC Technical Section to the FDA
during 2018. An additional submission is expected to be required. Each submission is subject to a six-month review by the
FDA. After approval of the final Technical Section, there is a 60-day administrative review before product license approval
could be issued. This timeline could support product approval and subsequent market launch, as anticipated, in the second
half of 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"></P>

<!-- Field: Page; Sequence: 2; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --> of 5</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; padding: 0pt 0pt 3pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Implementing
Nisin production at commercial scale is the most critical action in front of us on the path to regulatory approval of our novel
treatment for subclinical mastitis,&rdquo; further commented Mr. Brigham. &ldquo;We have displayed some pictures on our website
that show the significant progress being made on this project.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approximately
$10.1 million has been invested in the Nisin production facility project through June 30, 2017. The Company expects to pay for
the remaining $10 million of budgeted (and unpaid as of June 30, 2017) expenditures with its $4 3 million of cash on hand as of
June 30, 2017 and its $6 million of available bank debt. The available cash balance was increased by $1 million subsequent to
June 30, 2017 through the issuance of additional common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spending
on this project is expected to be largely complete by September 30, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nisin
is a bacteriocin that is not used in human medicines and would not contribute to the growing concern that the widespread use of
antibiotics could encourage the growth of antibiotic-resistant bacteria (&ldquo;superbugs&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mastitis,
which costs the dairy industry about $2 billion per year, is currently treated with traditional antibiotic products, and treatment
is generally reserved for clinical infections when the cow produces non-saleable milk. The &ldquo;zero milk discard&rdquo; product
feature approved for ImmuCell&rsquo;s product would make earlier treatment of sick cows economically feasible, while these cows are
still producing saleable milk. No other product can provide this kind of value proposition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Conference
Call:</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interested
parties can access the conference call scheduled by the Company to review these results by dialing (844) 855-9502 or (412) 317-5499
at 4:30 PM ET today. A teleconference replay of the call will be available for three days at (877) 344-7529 or (412) 317-0088,
confirmation #10111108.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>About
ImmuCell:</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ImmuCell
Corporation&rsquo;s <B>(NasdaqCM: ICCC) </B>purpose is to create scientifically-proven and practical products that improve animal health
and productivity in the dairy and beef industries. ImmuCell has developed products that provide significant, immediate immunity
to newborn dairy and beef livestock. The Company is developing a novel treatment for mastitis, the most significant cause of economic
loss to the dairy industry. Press releases and other information about the Company are available at: (<U>http://www.immucell.com</U>).</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt"></P>

<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --> of 5</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; padding: 0pt 0pt 3pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt"><B>Unaudited Condensed
Statements of (Loss) Income</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the Three-Month <BR> Periods Ended <BR> June 30,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the Six-Month <BR> Periods Ended <BR> June 30,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">(In thousands, except per share amounts)</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2016</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2016</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: left; padding-left: 0pt">Product sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,750</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,376</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">5,294</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">5,362</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0pt">Costs of goods sold</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">828</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,136</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2,220</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2,365</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Gross margin</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">922</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,240</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,074</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,997</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0pt">Sales, marketing and administrative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">800</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">839</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,694</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,594</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0pt">Product development expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">387</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">380</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">727</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">683</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in">Operating expenses</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,187</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,219</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2,421</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2,277</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">NET OPERATING (LOSS) INCOME</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(265</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">653</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">720</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0pt">Other expenses, net</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">36</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">31</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">67</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">55</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">(LOSS) INCOME BEFORE INCOME TAXES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(301</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">586</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">665</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0pt">Income tax (benefit) expense</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(83</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(1</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">220</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">222</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; padding-left: 0pt">NET (LOSS) INCOME</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(218</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(9</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">366</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">443</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0pt">Weighted average common shares outstanding:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,848</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,179</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,848</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,006</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,848</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,179</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,943</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,117</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0pt">NET (LOSS) INCOME PER SHARE:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.125in">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.05</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.00</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.08</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.11</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.05</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.00</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.07</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.11</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Unaudited
Selected Balance Sheet Data</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>As of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>June&nbsp;30,<BR>
2017</B></P></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>As of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>December&nbsp;31, 2016</B></P></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>(In thousands)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left">Cash, cash equivalents and short-term investments<SUP>(1)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">4,337</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">10,624</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net working capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,786</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,289</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,062</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,697</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Stockholders&rsquo; equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">20,196</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,722</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)
</SUP>These balances do not include approximately $80 and $343 held temporarily in escrow against certain construction performance
requirements as of June 30, 2017 and December 31, 2016, respectively.</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"></P>

<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> of 5</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt; padding: 0pt 0pt 3pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.7in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Contacts:</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael F. Brigham, President and CEO</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7in; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ImmuCell
Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7in; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(207)
878-2770</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7in; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7in; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joe
Diaz, Robert Blum and Joe Dorame</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7in; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lytham Partners, LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7in; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">(602)
889-9700</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7in; color: blue; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">iccc@lythampartners.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.7in; color: blue; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B><U>Safe
Harbor Statement:</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Press Release contains &ldquo;forward-looking statements&rdquo; within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements
relating to: projections of future financial performance; the scope and timing of ongoing and future product development work
and commercialization of our products; future costs of product development efforts; the estimated prevalence rate of
subclinical mastitis; future market share of and revenue generated by current products and products still in development;
future sources of fmancial support for our product development, manufacturing and marketing efforts; the future adequacy of
our own manufacturing facilities or those of third parties with which we have contractual relationships to meet demand for
our products on a timely basis; the future adequacy of our working capital and the availability and cost of third party
financing; timing and future costs of a facility to produce the Drug Substance (our active pharmaceutical ingredient, Nisin);
the timing and outcome of pending or anticipated applications for regulatory approvals; future regulatory requirements
relating to our products; future expense ratios and margins; future compliance with bank debt covenants; costs associated
with sustaining compliance with cGMP regulations in our current operations and attaining such compliance for the facility to
produce the Drug Substance; factors that may affect the dairy and beef industries and future demand for our products; our
effectiveness in competing against competitors within both our existing and our anticipated product markets; the
cost-effectiveness of additional sales and marketing expenditures and resources; the accuracy of our understanding of our
distributors&rsquo; ordering patterns; anticipated changes in our manufacturing capabilities and efficiencies; anticipated
competitive and market conditions; and any other statements that are not historical facts. Forward-looking statements can be
identified by the use of words such as &ldquo;expects&rdquo;, &ldquo;may&rdquo;, &ldquo;anticipates&rdquo;, &ldquo;aims&rdquo;,
&ldquo;intends&rdquo;, &ldquo;would&rdquo;, &ldquo;could&rdquo;, &ldquo;should&rdquo;, &ldquo;will&rdquo;, &ldquo;plans&rdquo;,
&ldquo;believes&rdquo;, &ldquo;estimates&rdquo;, &ldquo;targets&rdquo;, &ldquo;projects&rdquo;, &ldquo;forecasts&rdquo; and similar
words and expressions. In addition, there can be no assurance that future developments affecting us will be those that we
anticipate. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties
relating to difficulties or delays in development, testing, regulatory approval, production and marketing of our products,
competition within our anticipated product markets, customer acceptance of our new and existing products, alignment between
our manufacturing resources and product demand, the uncertainties associated with product development and Drug Substance
manufacturing, actual as compared to expected or estimated costs of expanding our manufacturing facilities, our potential
reliance upon third parties for financial support, products and services, changes in laws and regulations, decision making by
regulatory authorities, possible dilutive impacts on existing stockholders from any equity financing transactions in which we
may engage, currency values and fluctuations and other risks detailed from time to time in filings we make with the
Securities and Exchange Commission, including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K and our
Current Reports on Form 8-K. Such statements are based on our current expectations, but actual results may differ materially
due to various factors, including the risk factors discussed above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> of 5</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>ex99i_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 ex99i_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  ] ND# 2(  A$! Q$!_\0
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M\4FI1_PIJ_Z'X_?\$8_^3I?%'_9%?$7_ *E7@VF_\%GES^U5X:/I\!O"9_\
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH _!C_@N$-OAW]G-1T&O_$CD<@YTGPM_G\:^B_^"8 _XU_J>/\
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M3_X4756L?9PBFM=7&E']']S/R9_X(DZ[ILOPI^-OA=;JW_MFR^)>E>(9K+S
M)DTO6O"FD:=9W26^0XLY+[P]?6T=S$&9)T0-_ #\Y_\ !:KQOH6L_%WX0>!-
M-U*VO-8\%>"_$&I^(K*WG@EGT9O&.J:7)I-MJ:0L7AO9;+0Y;Q-+N0MQ'IUY
MI^HD&+4(G;13_@CI^TQX,\<B]^&'[0'@72-"!>S7QK;:K\1/ ?CZVTRXE*_9
MX]%\-:7JEE</)!';-<VT/C?2[2[F>6&:,".VN1[=XW_X(SZ3J7P_\(Z%X/\
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M_P#@';__ !NC^QM(_P"@7I__ (!V_P#\;H]CQ+_T-N'/_$<SC_Z)P^N>!_\
MT;CQ>_\ %S\$_P#TF#\K/^'X/_!+_P#Z.J\.?^$1\5O_ )AZ</\ @N%_P3
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MX(?]&Z\7O_%S<%?_ $FC\KO^'X?_  3!'_-U?AS_ ,(GXJG^7@>D_P"'X?\
MP3!_Z.L\.C_N2/BK_7P,:_5+^QM(_P"@7I__ (!V_P#\;H_L;2/^@7I__@';
M_P#QNCV/$O\ T-N'/_$=SC_Z)P^N>"/_ $;KQ>_\7-P5_P#2:/RN_P"'X?\
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M#_X)@G_FZOPW_P"$3\51_/P/7ZH?V-I'_0+T_P#\ [?_ .-T?V-I'_0+T_\
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M='L>)?\ H;<.?^([G'_T3A]<\$?^C=>+W_BYN"O_ *31^5W_  _#_P""8/\
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M_P ;H_L;2/\ H%Z?_P" =O\ _&Z/8\2_]#;AS_Q'<X_^B</KG@A_T;KQ>_\
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M . =O_\ &Z/8\2_]#;AS_P 1W./_ *)P^N>"'_1N?%W_ ,7-P5_])H_*X_\
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7XBK2H*C"=:G1H0JU(U:L*%"-:-"C_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
