Anika Therapeutics Inc Stock Price, News & Analysis

Anika Therapeutics (NASDAQ: ANIK) will showcase its complete joint preservation and restoration portfolio at the 2021 AAOS Annual Meeting in San Diego, California, from September 1-3. The company, now integrated with Arthrosurface and Parcus Medical, aims to lead in early intervention orthopedics. Featured products include the OVOMotion Total Shoulder System and Tactoset Injectable Bone Substitute. Notably, the OVOMotion system shows no loosening after 4,000 cycles. Anika's focus on innovative solutions addresses unmet needs in orthopedic care.

Anika Therapeutics reported a 24% year-over-year revenue growth for Q2 2021, totaling $38.1 million, recovering from earlier COVID impacts. Joint Preservation and Restoration revenue surged 79% to $11.9 million, while Joint Pain Management grew 9% to $24.3 million. The company expects full-year revenue growth of 11-14%, up from prior guidance. Net income improved to $6.5 million or $0.45 per diluted share, aided by a $9.8 million reduction in contingent consideration. Despite these gains, uncertainty due to the COVID pandemic remains a headwind.

On July 19, 2021, Anika Therapeutics (NASDAQ: ANIK) announced plans to issue its Q2 2021 financial results after market close on August 5, 2021. An investor conference call is scheduled for the same day at 5:00 p.m. ET to discuss the results and business highlights. The call will be accessible via toll-free and international numbers, and will also be available through a live audio webcast on Anika's Investor Relations website. Anika is focused on early intervention in orthopedics, providing minimally invasive solutions for joint preservation.

Anika Therapeutics (NASDAQ: ANIK) has initiated a limited launch of its WristMotion Total Wrist Arthroplasty (TWA) System, aimed at alleviating pain and restoring motion in arthritic wrist joints. The first surgery was performed on June 30, 2021, by Dr. Arnold-Peter C. Weiss at University Orthopedics, Rhode Island. The system, which received FDA clearance in October 2020, replaces both the radial and carpal sides of the wrist joint. The limited launch will progress to a full nationwide launch in Fall 2021, with presentations at major orthopedic meetings.

Anika Therapeutics (NASDAQ: ANIK) held its 2021 Virtual Investor Day, outlining a multi-year Joint Preservation strategy aimed at accelerating revenue growth and enhancing profitability. The company raised its 2021 revenue growth forecast to 10%-13% and reiterated a target to double 2019 revenues to approximately $230 million by 2024, focusing on the joint preservation market, valued at over $8 billion. Anika's leadership emphasized leveraging HA-based technologies and expanding its commercial presence to achieve these goals while navigating delays in pivotal trials due to COVID-19.

Anika Therapeutics, a global joint preservation company, will host its 2021 Virtual Investor Day on June 3, 2021, starting at 9:00 AM EDT. Key executives, including President Cheryl Blanchard and CFO Mike Levitz, will present an overview of the company's business strategy, product portfolio, R&D pipeline, and financial objectives. The event will feature presentations followed by a Q&A session with senior leaders. A webcast will be available on the company’s Investor Relations website for replay.

Anika Therapeutics reported Q1 2021 revenue of $34.3 million, down 3% year-over-year. Joint Preservation revenue surged 55% to $12.2 million, driven by acquisitions, while Joint Pain Management dropped 24% to $19.3 million, mainly due to COVID impacts. The company's revenue mix is shifting positively, with Joint Preservation now 36% of total revenue. Net income fell to $2.8 million ($0.20 per share) versus $5.8 million ($0.40 per share) last year. For 2021, Anika expects upper 20% to low 30% growth in Joint Preservation, projecting overall revenue growth in the high single to low double digits.

Anika Therapeutics (NASDAQ: ANIK) announced participation in three upcoming virtual investor conferences this May. Dr. Cheryl Blanchard, CEO, and Michael Levitz, CFO, will present at the following events: the 16th Annual Canaccord Genuity Musculoskeletal Conference on May 20, starting at 9:00 a.m. ET, the UBS Global Healthcare Virtual Conference on May 25, starting at 8:00 a.m. ET, and Oppenheimer’s MedTech Summit with a pre-recorded session on May 26. All presentations will be accessible via Anika's Investor Relations website.

Anika Therapeutics (NASDAQ: ANIK) plans to release its first quarter 2021 financial results on May 6, 2021, after market close. Following the release, the company will hold an investor conference call at 5:00 p.m. ET to discuss financials and business updates. Interested parties can access the call by phone or through a live audio webcast available on Anika's Investor Relations webpage. Anika specializes in joint preservation and minimally invasive orthopedic solutions, focusing on areas like osteoarthritis pain management and regenerative therapies.