ImmuCell reports mixed Q4 2025 results, pauses Re-Tain development

ImmuCell Corporation (NASDAQ: ICCC) reported preliminary sales of $7.6 million for the fourth quarter of 2025, a 1.6% decline from the same period in 2024, according to unaudited results released by the animal health company.

For the full year 2025, total sales reached $27.6 million, representing a 4.3% increase compared to 2024. Domestic sales grew 6.5% to $24.4 million, while international sales declined 9.6% to $3.3 million.

The company's Tri-Shield First Defense product line showed growth of 26.5% for the full year, reaching $19.9 million in sales, while Dual-Force First Defense sales declined 27.4% to $6.9 million. In the fourth quarter, Tri-Shield sales increased 41.3% to $6.0 million.

ImmuCell announced it will pause further investment in its Re-Tain product after the FDA issued an Incomplete Letter on December 23, 2025, due to unaddressed inspectional deficiencies at the company's contract manufacturer. The company plans to record approximately $2.9 million in non-cash impairment write-downs related to Re-Tain property, plant and equipment during the fourth quarter.

The company identified opportunities to repurpose the majority of approximately $15.5 million in Re-Tain assets for its First Defense product line. Additional write-downs totaling $0.7 million were identified during the quarter, including $0.1 million in other property and equipment impairments and $0.6 million in inventory write-downs.

"Sales for the quarter exceeded our expectations and show that we continue to make progress rebuilding our market position after a period of supply challenges," said CEO Olivier te Boekhorst.

The company plans to expand its sales force by 50% through creating two new domestic territories and hiring an international business development executive. ImmuCell also reported manufacturing improvements that increased lyophilization process output by more than 15% year-over-year in 2025.

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