The player WILL NOT be able to complete this quest if him or her already have completed No Time to Talk, because all scientists in the Laboratory will be dead, including Nguyen. So, you must do Wet Job first.
If the Hero is already carrying a Floater Meat this can be completed immediately. On the other hand this quest might cause all Floaters killed to drop a Floater Meat so anyone interested in gathering a supply of it might want to keep this quest active. Testing is required to determine if this would occur.
After this quest was active (and even after it was completed) there was a mostly dissolved body with two Floater Meat beside it outside the Scran's not for the Dead food warehouse (at the base of the stairs). As such it became easy to farm both Floater Meat and Meat Bait.