LANSING, Mich., July 24, 2014 /PRNewswire/ -- Neogen
Corporation (Nasdaq: NEOG) advised market analysts today that
future forecasts of its potential revenue from new rodenticide
research are premature. In its regular quarterly conference call to
investors and analysts on July 22,
2014, Neogen's CEO commented about several new developments
when questioned by analysts regarding this research.
"It was my intent Tuesday at our conference call to answer
questions about the potential of a new type of rodenticide, but
certainly not to give any indication of size of that market," said
James Herbert, Neogen's chief
executive officer and chairman. "When asked about market studies, I
declined any market projections since it is our intention to market
this rodenticide in combination with our other current formulas. I
also indicated that we hoped to submit application for approval to
the U. S. Environmental Protection Agency sometime this summer, and
though optimistic of eventual approval, could not forecast
timing."
Neogen issued a press release on June 16,
2014, that it had licensed patents to a rodenticide aimed at
controlling rodents through fertility control. The company
indicated it was currently doing more beta site testing in field
situations with natural rodent populations and was still awaiting
those results before making any further
investments.
The company made these comments because of market reactions to
published research on Wednesday that drove up both the price of the
stock and volume.
Neogen Corporation develops and markets products dedicated to
food and animal safety. The company's Food Safety Division markets
dehydrated culture media, and diagnostic test kits to detect
foodborne bacteria, natural toxins, food allergens, drug residues,
plant diseases and sanitation concerns. Neogen's Animal Safety
Division is a leader in the development of animal genomics, along
with the manufacturing and distribution of a variety of animal
healthcare products, including diagnostics, pharmaceuticals,
veterinary instruments, wound care and disinfectants.
CONTACT:
Steven J. Quinlan, Vice President
& CFO
517/372-9200
SOURCE Neogen Corporation