By Staff
ImmuCell Corp. (Nasdaq: ICCC), a Portland biotech company that makes preventive health products for beef and dairy cattle, on Monday reported that sales revenue increased 12% in 2020, and has completed application for regulatory approval of a new product.
Total sales grew by $1.6 million over the 2019 level to $15.3 million last year, the company said in a news release. Sales during the fourth quarter of 2020 were $3.7 million, up by $111,000, or 3%, from the same period in 2019.
ImmuCell reported a net loss of $1 million, or 14 cents per share, for 2020, compared to net loss of $1.3 million, or 19 cents per share, for 2019.
The company also said it has recently submitted the last of five technical applications necessary to receive Food and Drug Administration approval of Re-Tain, a product in development for treating a cattle infection, mastitis, without the use of antibiotics.
ImmuCell reports 2020 sales boost, new product update
The Portland-based animal health company reported a 12% increase in sales and progress on its efforts to earn regulatory approval for a new product called Re-Tain.
By STAFF REPORT
Share
ImmuCell Corp. reported a double-digit sales increase in 2020 and says it has made its last major submission to the U.S. Food and Drug Administration for a new product under development.
The Portland-based animal health products maker, which produces immunity-boosting treatments for dairy and beef cattle, reported 2020 sales of $15.3 million on Monday, up 12 percent from $13.7 million the previous year. The company suffered a net loss of $1 million, or 14 cents per share, in 2020, an improvement over its net loss of $1.3 million, or 19 cents per share, in 2019.