Michael A. Davis has been elected as Chairman of the Board of Directors of Cyanotech Corporation (Nasdaq Capital Market: CYAN). He replaces Gregg Robertson, who resigned in late 2010. Mr. Davis was Vice-Chairman of the Board and has been a Director of Cyanotech since March 2003. “Michael has been a key influence in helping Cyanotech sharpen its business model and market focus in recent years,” said Brent Bailey, President and CEO. “We look forward to his continuing support and leadership as Chairman of the Board.” Mr. Davis, a private Investor and major shareholder of Cyanotech since 1994, is also President of Skywords Family Foundation and a Director of Canobie Films, Inc. About Cyanotech — Cyanotech Corporation, a world leader in microalgae technology, produces BioAstin® Natural Astaxanthin and Hawaiian Spirulina Pacifica®—all natural, functional nutrients that leverage our experience and reputation for quality, building nutritional brands which promote health and well-being. Cyanotech's Spirulina products offer complete nutrition, and augment energy and immune response. They are FDA reviewed and accepted as Generally Recognized as Safe (GRAS) for use in food products. BioAstin's superior antioxidant activity and ability to support and maintain a natural anti-inflammatory response enhance skin, muscle and joint health. All Cyanotech products are produced from microalgae grown at its 90-acre facility in Kona, Hawaii using patented and proprietary technology. Cyanotech distributes to nutritional supplement, nutraceutical and cosmeceutical manufacturers and marketers in more than 54 countries worldwide. Cyanotech was the first microalgae company in the world to obtain quality management standards ISO 9001:2000 certification and is GMP-certified by the Natural Products Association TM. Visit www.cyanotech.com for more information.
Shares of Cyanotech Corporation (Nasdaq:CYAN) have taken a tremendous swing upward. The stock is trading at $8.25 as of 9:30 a.m. ET, 26.7% above Wednesday's closing price of $6.51. Volume is at 16,422, 0.3 times the daily average of 53,500.