PORTLAND – Publicly traded biotechnology firm ImmuCell reported a full-year 2010 net loss of $385,000, compared with a net loss of $216,000 in 2009.
In 2010, the Portland-based company had sales of roughly $4.4 million, down 3 percent from a year earlier. Its fourth-quarter sales, however, jumped 9 percent from the same period a year earlier, bolstered by 13 percent growth in sales of ImmuCell’s flagship product First Defense, which prevents diarrhea in cow calves.
Michael Brigham, ImmuCell president and CEO, said the sales gains give him “optimism that we may be turning the corner for the better.”
Brigham said losses in 2008, 2009 and 2010 reflect the company’s investment in a new product called Mast Out.
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