Cyanotech Files Form 10-Q Financial Reports for First Quarter and Second Quarter of Fiscal Year 2007, Delays Third Quarter Fiscal 2007 Form 10-Q Financial Report

Cyanotech Corporation (Nasdaq:CYAN) filed on February 20, 2007 Form 10-Q financial reports with the Securities and Exchange Commission for the first and second quarters of fiscal year 2007, ended June 30, 2006 and September 30, 2006, respectively.