Modern mycology recognizes five distinct species of Pycnoporus: the type P. cinnabarinus, P. coccineus, P. palibini, P. puniceus, and P. sanguineus.

Pycnoporus cinnabarinus occurs in cooler, temperate regions within Europe and North America.

Pycnoporus puniceus is a rare species found in Southeastern Asia and Malaysia.

Specimens typically retain their strong red-orange color for long periods of time, especially when dried and stored properly.

Several collected specimens of P. cinnabarinus show pale orange pigmentation in areas with direct sunlight.

Pycnoporus fungi are used heavily for industry because of their ability to produce powerful lignolytic enzymes that break down lignin and tough polysaccharides in wood and paper.

[2] Pycnoporus fungi also produce copper and iron metalloenzymes that are involved in the chemical transformation of aromatic compounds found in plant cell walls.

"Lignolytic system of the white rot fungus Pycnoporus cinnabarinus: Purification and characterization of the laccase".

(1998) "Molecular analysis of a laccase gene from the white rot fungus Pycnoporus cinnabarinus".