Added to YB: 2024-07-22
Pitch date: 2024-07-20
ICCC [bullish]
ImmuCell Corporation
Author Info
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Company Info
ImmuCell Corporation, an animal health company, develops, manufactures, and sells products that improves the health and productivity of dairy and beef cattle in the United States and internationally.
Market Cap
$74.7M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.68
P/E
-120.40
EV/Sales
2.70
Sector
Biotechnology
Category
special_situation
Growing Company with Obscure Financials, 50% Market Share and Big OptionalityB
ICCC (new position): Animal health co w/ First Defense (52% mkt share, 16% rev CAGR) treating calf scours, stealing share from Zoetis/Merck at premium pricing. Q1 42% gross margin vs 28% in 2023 after contamination issues resolved. Capacity expansion to $40M done. Re-Tain FDA decision imminent (4/5 sections approved)—$200M mastitis market at 3-4x competitor pricing if approved; if not, $21M facility saleable & opex cuts reveal profitability. Trading 7x fwd FCF ex-hard assets. SRK Capital 6.4% holder. 100-150% upside in 3yr; downside protected by real estate. Risks: FDA binary, distributor concentration (70%), contamination history, mgmt transition.
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