Cyanotech (CYAN) Changes Focus for NatuRose Product
More News related to CYAN
- Cyanotech Reports Financial Results for the Second Quarter of Fiscal 2010
- Cyanotech Lauded by State of Hawaii for 25 Years of Leadership
- Morning Movers 6/24: TTGT, CUR, CYAN, OCLS, AM Higher; PQ, SVU Lower
- Cyanotech (CYAN) Names Jacobson Pres/CEO
- Cyanotech (CYAN) Changes Focus for NatuRose Product
Cyanotech Corporation (Nasdaq: CYAN) will discontinue marketing of its NatuRose product for the animal feed market in order to focus production and marketing of natural astaxanthin exclusively on the higher value human market.
“Cyanotech's marketing efforts and investment directed toward the human astaxanthin market in recent periods have yielded excellent results,” said Gerald R. Cysewski, Ph.D., Cyanotech’s Chairman, President and Chief Executive Officer. “Our sales of BioAstin, the industry-leading brand in the human astaxanthin market, recorded a 137% increase in the third quarter of fiscal 2008 (ended 12/31/2007) compared with the same quarter of the previous year.”
Cyanotech also announced it has discontinued production and marketing of phycobiliproteins (fluorescent pigments made from microalgae and used in medical diagnostic testing and research), a highly specialized product that had provided a small contribution to revenue in recent years. [SM]
Related Categories
Corporate NewsStocks Mentioned
+0.02Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
