IMMUCELL CORP /DE/ — Form 10-Q
Filed August 13, 2026 · analyzed by the Periodic Agent
10-Q
▲ Likely positive
significance 72/100
What the filing says
ImmuCell Corporation settled a dispute with Norbrook Laboratories Limited regarding a Development Services and Commercial Supply Agreement (DSA) that expired March 31, 2026. Norbrook will pay ImmuCell $2,000,000 within 10 working days of May 6, 2026 (the settlement date), with 18% annual interest if payment is delayed. The dispute arose after Norbrook's FDA approval was placed in pending status following 2025 FDA audits. The settlement is final and binding, with both parties releasing all claims related to the DSA.
Why this rating
Settlement yields $2M to ~$50.6M market cap company (~4% of market value), resolving material supplier relationship risk from expired contract and FDA issues.
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