ImmuCell reports Q2 2026 results, presses ahead with capacity expansion

ImmuCell Corporation reported unaudited results for the quarter ended June 30, 2026 on August 13, 2026. The company is pursuing a capacity expansion investment to build scalable manufacturing capability for First Defense using facilities and equipment from the discontinued Re-Tain development program.¹

The expansion has two phases. The first phase adds drying capacity by renovating the former Re-Tain facility and installing a new freeze dryer, expected to take about 12 months and cost approximately $3.5 million.¹ The second phase will repurpose Re-Tain equipment and add automation to expand First Defense colostrum liquid processing capacity, expected to take about six months and cost approximately $4.5 million.¹ In June 2026 the company's board approved the overall program.¹ CEO Olivier te Boekhorst said the company expects to triple its capacity over the next 18 months and improve long-term product economics.¹

On sales, distributor demand accelerated: out-the-door volume growth reached 28% in the second quarter, up from 21% in the first quarter of 2026.¹ The company's share of U.S. calves receiving a scour biological reached 19% in the quarter.¹

Financially, second-quarter product sales rose 11.5% to approximately $7.2 million, and net income was $1.8 million, or $0.20 per diluted share, compared to $0.5 million, or $0.06 per basic share, a year earlier.¹ Results included a one-time $2 million legal settlement payment from a former Re-Tain contract manufacturer, booked as a reduction to operating expenses.¹

On liquidity, cash and cash equivalents rose to $8.9 million as of June 30, 2026 from $3.8 million at the end of 2025, aided in part by the settlement payment.¹ Management said it intends to fund the expansion phases with cash on hand and cash from operations.¹