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Cyanotech Delays First Quarter Fiscal 2007 Financial Results

KAILUA KONA, Hawaii (August 9, 2006) — Cyanotech Corporation (Nasdaq Capital Market: CYAN), a world leader in producing high-value nutrition and health products from microalgae, announced it will file for an extension with the Securities and Exchange Commission of the time to file its Form 10-Q Report for its first quarter fiscal 2007 period ended June 30, 2006.  The quarter’s results had been scheduled to be announced by news release on August 10, 2006.

During final review of first quarter fiscal 2007 results, a matter emerged involving the company’s historical treatment of certain inventory related costs. This requires review and resolution prior to filing the Form 10-Q.  The Company now expects to file its Form 10-Q for the first quarter of fiscal 2007 by August 21, 2006.

About Cyanotech  — Cyanotech Corporation, a world leader in microalgae technology, produces BioAstin® Natural Astaxanthin and Hawaiian Spirulina Pacifica®—all natural, functional nutrients that enhance human health and nutrition. Cyanotech's spirulina, FDA reviewed and accepted as Generally Recognized as Safe (GRAS) for use as a food ingredient, augments energy and immune response. BioAstin's benefits derive from its superior antioxidant activity and from its ability to support and maintain natural inflammatory response, enhancing skin, muscle and joint health.  NatuRose® Natural Astaxanthin is a natural pigment source that also promotes animal health and nutrition, primarily in aquaculture.  Phycobiliproteins are fluorescent pigments used in medical diagnostic testing and research. Cyanotech produces these products from microalgae grown at its 90-acre facility in Hawaii using patented and proprietary technology and distributes them to nutritional supplement, nutraceutical, cosmeceutical, and animal feed makers and marketers in more than 40 countries worldwide. Cyanotech was the first microalgae company in the world to obtain ISO 9001:2000. Visit www.cyanotech.com for more information.


Contact:

Bruce Russell: [email protected]
(310) 559-4955 x101


 

 
 
 
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