ImmuCell posts net loss
ImmuCell Corp., a biotech firm in Portland, today posted a net loss for the second quarter despite a 4% increase in sales.
ImmuCell reported a net loss before taxes of $238,000 during the three-month period that ended June 30, compared to a net loss of $60,000 during the same period in 2007, according to a press release from the company. ImmuCell attributes the loss to increased product development expenses for Mast Out, a bovine health product that ImmuCell has been developing independently since Pfizer Animal Health terminated its product development and marketing agreement with the company in July 2007. Product development expenses increased 44% during the second quarter over the same period last year.
For the six-month period ending June 30, ImmuCell reported a net loss of $160,000. That compares to a net gain of $237,000 during the same six-month period in 2007.
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