DAVIS, Calif., June 24, 2020 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), an international leader in sustainable bioprotection and plant health solutions, today announced that its flagship biofungicide, Regalia, holds more than 25% market share* of the foliar biofungicide segment in California; outperforming direct competitors during January through April 2020.
“Regalia’s performance is a testament to its efficacy for managing plant diseases and improving crop health,” said Kevin Hammill, chief commercial officer for Marrone Bio Innovations. “Its performance has been proven on domestic and international specialty crops for more than ten years. While the 2020 fungicide market in California is down overall, we are pleased to see that when growers used a biofungicide, they chose Regalia more often than direct competitors.
“As with Regalia, grower response for Stargus has been very positive. Field trials are showing promising results and I am confident the product will continue to gain market share as we continue grower education and outreach,” concluded Hammill.
California’s conventional and organic fungicide market was down 14% January through April 2020 due to less disease pressures resulting in fewer fungicide applications. Almonds, in particular, saw the greatest reduction in treated acres with a 21% decrease.
Despite the reduced fungicide use in January through April 2020, Marrone Bio saw an uptick in the demand for Regalia and its newly approved biofungicide, Stargus, on several crops including wine grapes and stone fruits.
Stargus, MBI’s newest biofungicide that provides broad spectrum disease control through multiple modes of action, saw strong adoption amongst California growers after its January 2020 approval by the California Department of Pesticide Regulation. Since then, several label updates, including the addition of hemp and pome fruits, were made for all states with updates pending in California. Key diseases on grapes and strawberries are expected to be approved for California in late 2020.
Regalia is MBI’s flagship biofungicide that improves yield and harvest quality by stimulating the plant’s ability to fight disease. The preventative nature of Regalia provides early control of a variety of plant diseases on a wide range of specialty crops including hemp and cannabis (labeled as marijuana in Canada).
Both Regalia and Stargus are exempt from maximum residue limits (MRLs), have zero-day pre-harvest intervals, and are Organic Materials Review Institute (OMRI) listed.
Source: DPR, CA – May 16, 2020. Note: Only 80+% of January-April data is available.
* Market share was calculated including all biofungicides with the exception of Sulfur, Copper and peracetic acid based products.
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented company leading the movement to a more sustainable world through the discovery, development and sale of innovative biological products for crop protection, plant health and waterway systems treatment that help customers operate more sustainably while increasing their return on investment. MBI has screened over 18,000 microorganisms and 350 plant extracts, leveraging its in-depth knowledge of plant and soil microbiomes enhanced by advanced molecular technologies and natural product chemistry to rapidly develop seven product lines. Supported by a robust portfolio of over 400 issued and pending patents, MBI’s currently available commercial products are Regalia®, Stargus®, Grandevo®, Venerate®, Majestene®, Haven®, Pacesetter™, Zelto® Jet Oxide® and Jet Ag® and Zequanox®, with a next-generation insecticide-nematicide, a breakthrough bioherbicide and a biofumigant in the Company’s product pipeline. MBI’s Pro Farm Finland-based subsidiary employs a proprietary technology derived from wood waste to stimulate plant growth and improve plant health, resulting in improved yields and crop quality. Products include UBP™ 110, Foramin®, UBP™ Seed Treatment, Foramin® ST.
Learn more about Marrone Bio Innovations at www.marronebio.com. We also use our investor relations website, https://investors.marronebio.com, as well as our corporate Twitter account, @Marronebio, as means of disclosing material non-public information, and encourage our investors and others to monitor and review the information we make public in these locations. Follow us on social media: Twitter, LinkedIn and Instagram.
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing MBI’s views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements including the potential of Regalia and Stargus and other factors affecting demand for the MBI’s products, any difficulty in marketing MBI’s products in its target markets, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers. Additional information that could lead to material changes in MBI’s performance is contained in its filings with the SEC. MBI is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of current information, future events or otherwise.
Marrone Bio Innovations Contact:
Kevin Hammill
Chief Commercial Officer
info@marronebio.com
1-530-750-2800
Investor Relations Contact:
Luke Zimmerman
Senior Vice President
MZ Group – MZ North America
949-259-4987
MBII@mzgroup.us
www.mzgroup.us