Anika Therapeutics(US:ANIK)2021-05-24 22:06Company Overview - Anika is a joint preservation company focused on early intervention orthopedic care[5] - The company's 2020 revenue was $130 million, with $95 million in cash and investments as of March 31, 2021[5] - Anika aims to achieve diversified growth with a projected 2024 revenue mix of 64% in OA Pain Management and 30% in Joint Preservation[5] Market Opportunity and Growth Strategy - Anika is expanding its market opportunity from $1 billion to over $8 billion in joint preservation[12] - The company is targeting to double revenue by 2024 with double-digit adjusted EBITDA growth[12] - Anika has established a commercial footprint in over 75 countries[19] Financial Performance and Outlook - Q1 2021 total revenue decreased by 3% to $343 million compared to Q1 2020[34] - Joint Preservation and Restoration revenue increased by 55% to $122 million in Q1 2021[34] - Joint Pain Management revenue decreased by 24% to $193 million in Q1 2021[34] - The company had $946 million in cash and investments as of March 31, 2021[34]