Portland-based ImmuCell reports big revenue boost for 3rd quarter

Portland biotech firm ImmuCell Corp. on Monday reported a significant revenue increase for the third quarter, with sales up 38 percent from a year earlier to $3 million.

The company, which develops and manufactures bovine health products for the dairy and beef industries, said the revenue boost was the result of eliminating a production bottleneck that had restricted sales in 2018 despite increased customer demand.

ImmuCell reported a net loss of $503,000, or 7 cents per share, for the third quarter as it continued to absorb the costs of a $20 million manufacturing facility completed in late 2017 for a new product called Re-Tain that must receive regulatory approval before sales can commence. Read more

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