BEDFORD, Mass., July 25, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ:ANIK), a global joint preservation company in early intervention orthopedics, today announced that the Company plans to issue its second quarter 2024 financial results after the close of the market on Thursday, August 8, 2024 and hold its investor conference call on the same day, at 5:00 p.m. ET to discuss its financial results and business highlights. The conference call can be accessed by dialing 1-800-717-1738 (toll-free d ...

BEDFORD, Mass., July 25, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today announced that the Company plans to issue its second quarter 2024 financial results after the close of the market on Thursday, August 8, 2024 and hold its investor conference call on the same day, at 5:00 p.m. ET to discuss its financial results and business highlights. The conference call can be accessed by dialing 1-800-717-1738 (toll-free ...

Integrity and its complete arthroscopic instrumentation platform are now fully available in the U.S., expanding Anika's proprietary hyaluronic acid (HA) regenerative portfolio Over 300 surgeries completed during the limited market release, highlighting the growing interest and commercial demand across a wide range of tendon repairs BEDFORD, Mass., July 11, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ:ANIK), a global joint preservation company focused on early intervention orthopedics, today ann ...

Integrity and its complete arthroscopic instrumentation platform are now fully available in the U.S., expanding Anika’s proprietary hyaluronic acid (HA) regenerative portfolio Over 300 surgeries completed during the limited market release, highlighting the growing interest and commercial demand across a wide range of tendon repairs BEDFORD, Mass., July 11, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company focused on early intervention orthopedics, today an ...

Appoints Joseph Capper and William Jellison to Board of DirectorsAnnounces New $40 Million Share Repurchase Program BEDFORD, Mass., May 28, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ:ANIK), a global joint preservation company in early intervention orthopedics, today announced that it has entered into a cooperation agreement with Caligan Partners LP ("Caligan"). As part of the agreement, Joseph Capper, CEO of MIMEDX, and William Jellison, former CFO of Stryker, have been appointed to the Compa ...

Financial Data and Key Metrics Changes - Overall revenue for Q1 2024 increased by 7% year-over-year to $40.5 million, driven by strong demand and favorable order timing [8][19] - OA Pain Management revenue rose 7% to $24.3 million, attributed to growing market demand and favorable ordering patterns [9][19] - Joint preservation and restoration revenue increased by 3% to $13.8 million, supported by recent product launches [10][20] - Non-orthopedic revenue surged by 29% to $2.4 million, reflecting growing demand in high-risk veterinary sales [20] - Gross margin improved to 61% from 60%, while adjusted gross margin decreased to 62% from 64% due to production inefficiencies [20][21] - Net loss narrowed to $4.5 million or $0.31 per share, compared to a net loss of $10.4 million or $0.71 per share in the previous year [22] - Adjusted EBITDA increased to $2.5 million from a negative $1.2 million, with an adjusted EBITDA margin of 6% [22] Business Line Data and Key Metrics Changes - OA Pain Management remains the largest product family, with a revenue increase of 7% [19] - Joint preservation and restoration revenue growth was driven by new product launches, despite headwinds from mature products [10][20] - The Integrity Implant System has seen over 200 cases completed, indicating strong adoption and positive clinical feedback [11] - The X-Twist Fixation System has achieved over 10,000 global implantations, marking significant market penetration [13] Market Data and Key Metrics Changes - Cingal is positioned as a key driver in over 40 countries outside the U.S., with ongoing exploration of partnership opportunities in select Asian markets [9] - Hyalofast is performing well internationally, now sold in over 35 countries, with plans for a U.S. launch by 2026 [12] Company Strategy and Development Direction - The company is focused on optimizing performance and driving profitability through cost reduction initiatives, aiming for $10 million in annualized savings [8][25] - Continued investment in the HA-based regenerative solutions pipeline is a priority, with plans to file for Hyalofast's PMA this year [26] - The company is committed to maximizing shareholder value while investing in growth opportunities [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2024 guidance, with expectations for revenue growth in the second half of the year [8][24] - The company anticipates a stronger performance in joint preservation and restoration due to the full market release of Integrity [24] - Management remains optimistic about the competitive landscape, particularly regarding the upcoming launch of Hyalofast [39] Other Important Information - The CFO, Mike Levitz, announced his departure effective June 3rd, with Steve Griffin set to take over [15][16] - The company is on track to deliver positive adjusted net income and generate positive free cash flow in 2024 [26] Q&A Session Summary Question: Guidance on OA Pain Management business performance - Management indicated that the OA Pain Management business is growing above market, but noted challenges due to volatile order timing [31][32] Question: Competitive dynamics in the HA injection market - Management acknowledged the competitive landscape but expressed confidence in Hyalofast's market entry and differentiation [39] Question: Growth rates for the joint business and mature products - Management confirmed that while mature products face headwinds, new products are driving growth and will continue to be marketed [41][43] Question: FDA feedback on Cingal and non-clinical data requirements - Management is awaiting clarity on non-clinical testing requirements from the FDA and remains optimistic about the process [45][58] Question: Gross margin expectations for the year - Management expects gross margin to improve in the second half of the year due to favorable product mix and resolution of production inefficiencies [50][62]

Q1 2024 EARNINGS CALL MAY 8, 2024 Anika. Restore Active Living. SAF ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-14027 Anika Therapeutics, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 04-3145961 (State or Other Jurisdiction of In ...

EXHIBIT 99.1 Anika Reports First Quarter 2024 Financial Results Revenue up 7% on growing demand and favorable order timing; On-track for 2024 revenue guidance Cost reduction initiatives complete; On-track to achieve 2024 adjusted EBITDA guidance of $25-30 million, up over 75% at the midpoint BEDFORD, Mass., May 08, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today reported financial results for its first quarter end ...

BEDFORD, Mass., May 08, 2024 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ:ANIK), a global joint preservation company in early intervention orthopedics, today announced that it has appointed Steve Griffin as the Company's Executive Vice President, Chief Financial Officer ("CFO") and Treasurer, effective June 3, 2024. He succeeds Michael Levitz, who has decided to step down as CFO after almost four years with the company. Mr. Levitz will remain with the Company through December 31, 2024, to ensure a s ...