UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 8-K

                 Current Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934
                                November 1, 2004

                Date of report (Date of earliest event reported)


                              Cyanotech Corporation

             (Exact name of registrant as specified in its charter)



NEVADA                          000-14602                       91-1206026
(State or other          (Commission File Number)            (IRS Employer
jurisdiction of                                         Identification Number)
incorporation)


       73-4460 Queen Kaahumanu Highway, Suite #102, Kailua Kona, HI 96740

                    (Address of principal executive offices)

                                (808) 326 - 1353

                         (Registrant's telephone number)

                                 Not Applicable

          (Former name or former address, if changed since last report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|  Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)

|_|  Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))


ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

The following information is being furnished,  not filed, pursuant to Item 2.02.
Attached  hereto  as  Exhibit  99.1 and  incorporated  by  reference  herein  is
financial  information  for  Cyanotech  Corporation  for Fiscal Year 2005 Second
Quarter (ended September 30, 2004) and  forward-looking  statements as presented
in a press release of November 1, 2004. The  information in this report shall be
deemed incorporated by reference into any registration  statement  heretofore or
hereafter  filed under the  Securities  Act of 1933,  as amended,  except to the
extent that such  information  is superceded by  information  as of a subsequent
date that is included in or  incorporated  by reference  into such  registration
statement.  The  information  in this  report  shall not be treated as filed for
purposes of the Securities Exchange Act of 1934, as amended.



On November 1, 2004 Cyanotech Corporation. issued a press release announcing its
results of operations and financial condition for the second quarter fiscal year
2005 ended  September  30,  2004.  A copy of this press  release is  attached as
Exhibit 99.1.


ITEM 9.01. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c) Exhibits.

99.1 Press release dated November 1, 2004 announcing  financial  results for the
second quarter fiscal year 2005 ended September 30, 2004.


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                                   Signatures

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                       CYANOTECH CORPORATION (Registrant)




November 1, 2004          By: /s/ Jeffrey H. Sakamoto
                          -----------------------
                          Jeffrey H. Sakamoto
                          Vice President - Finance & Administration
                          (Principal Financial and Accounting Officer)



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                                  EXHIBIT INDEX