By Ian Gilson, PhD, CFA

NASDAQ:MBII

READ THE FULL MBII RESEARCH REPORT

Marrone Bio (NASDAQ:MBII) has announced that Regalia is the leading biofungicide in California, with a market share of over 25% in the leaf biofungicide treatment market, for the January 2020 through April 2020 growing season.

Despite a 12.8% increase in acres treated by biofungicides overall organic and chemical treatment demand was down 14% for the same period year/year due to a lower incidence of fungal infection. Acres treated for almonds (California is the world's largest producer of almonds) dropped by 21%.

Marrone Bio's two fungicides, Regalia and Stargus, saw an increase in demand on a year over year basis on two major crops, grapes and stone fruits.

Stargus is gaining traction in the fungicide market due to increased approval by several states. The multifunctional properties of Stargus are appealing within the BioUnite program.

Both Regalia and Venerate are now available on Amazon.com [AMZN, $2,743.49]. Regalia costs $288 for 2.5 gallons and Venerate (insecticide) is $328 for 2.5 gallons.

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