ImmuCell Settles Insurance Claim For $426K Covering Production Contamination Losses, Adding To $250K Paid In Q3 2023

ImmuCell Corporation (Nasdaq: ICCC) ("ImmuCell" or the "Company"), a growing animal health company that develops, manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle, today announced that it has settled an insurance claim covering some of the losses incurred from production contamination events.

The Company settled a long outstanding insurance claim related to previously disclosed contamination events in its production process incurred from late 2022 through April of 2024. The Company has accepted a settlement in the amount of $426,587, which is in addition to the $250,000 that was paid on this claim and recognized for financial statement purposes during the third quarter of 2023.