Cyanotech Announces 33% Expansion Of Astaxanthin Production Capacity
Responding to increased market demand for its natural Astaxanthin,
Cyanotech Corporation (Nasdaq: CYAN) has announced a 33% expansion of
Astaxanthin capacity at its production facility at Kona, Hawaii.
Responding to increased market demand for its natural Astaxanthin, Cyanotech Corporation (Nasdaq: CYAN) has announced a 33% expansion of Astaxanthin capacity at its production facility at Kona, Hawaii. “With our Astaxanthin sales almost doubling since January, we have ramped up production and are realizing record yields month after month. In addition, we are adding 33% more Astaxanthin capacity, which should be fully on line in six months,” said Brent Bailey, President and CEO of Cyanotech. “We want to be sure we have capacity to fill the needs of all our customers in a timely manner, and be sure that all the consumers who want to try this exceptional nutrient can get it.” Demand for Astaxanthin has increased steadily in the supplement industry this year since Dr. Joseph Mercola went on the Dr. Oz show, proclaiming it “The #1 Supplement you’ve never heard of that you should be taking.” This segment has aired three times and Dr. Mercola has followed up with several e-newsletters and YouTube segments extolling the benefits of Astaxanthin. Mr. Bailey noted, “We’ve been able to benefit from this recognition because Cyanotech has the world’s largest production capacity and we had excellent inventory levels coming into this period of increased demand in January. We’re seeing demand continue to build nine months after the first Dr. Oz segment initially aired.” Cyanotech’s Founder & Chief Scientific Officer, Gerald Cysewski, PhD, explained, “With our product, BioAstin Hawaiian Astaxanthin, people taking it for 2 to 6 weeks start to actually feel the benefits. This may mean decreased arthritis pain, improvements in skin quality, or maybe faster recovery from exercise and better workouts. Overall, about 80% of people will actually notice a difference within the first two months of use. So they continue to use it, and they tell their family & friends. This is why we see demand not only sustaining, but increasing.”
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.