Welcome to our dedicated page for Anika Therapeutics news (Ticker: ANIK), a resource for investors and traders seeking the latest updates and insights on Anika Therapeutics stock.
Anika Therapeutics, Inc. reports developments as a global joint preservation company focused on early intervention orthopedics. The company uses hyaluronic acid and implant solutions across Osteoarthritis Pain Management and Regenerative Solutions, with products and programs that include Monovisc, Orthovisc, Cingal, Hyalofast and the Integrity Implant System.
Recurring ANIK news includes quarterly and annual financial results, Commercial Channel and OEM Channel performance, gross margin and manufacturing execution, regulatory updates for orthopedic product programs, conference presentations, and governance changes. Company updates also address international OA pain management demand, regenerative product adoption, and operational initiatives tied to scaling production and portfolio advancement.
Anika Therapeutics (NASDAQ: ANIK) reported a 25% year-over-year revenue growth for Q3 2021, reaching $39.5 million, driven primarily by a 42% increase in Joint Pain Management revenue. Despite operational successes, the company revised its 2021 revenue growth outlook to 9-11% due to COVID-19 impacts. Adjusted net income remained stable at $0.05 per share. Gross margin stood at 58%, with an adjusted gross margin of 66%. The company maintains its long-term strategy to double revenues by 2024.
Anika Therapeutics has appointed Sheryl Conley as an independent director to its Board, effective October 28, 2021. With over 35 years in the orthopedic field, including roles at OrthoWorx and Zimmer, Conley's expertise in marketing, sales, and product development is expected to enhance Anika's strategic objectives. This appointment increases the number of independent directors to seven, supporting Anika's goal to become a leading joint preservation company. Conley also holds positions on the boards of other healthcare companies, further showcasing her industry influence.
Anika Therapeutics, Inc. (NASDAQ: ANIK) plans to release its third quarter 2021 financial results post-market on November 4, 2021. The company will hold an investor conference call at 5:00 p.m. ET the same day to discuss financial results and business highlights. Stakeholders can participate via dial-in or through a live audio webcast available on Anika's website. The call will be archived for later access. Anika specializes in joint preservation through innovations in orthopedic care, focusing on osteoarthritis management and regenerative solutions.
Anika Therapeutics (NASDAQ: ANIK) has launched its WristMotion® Total Wrist Arthroplasty (TWA) System at the ASSH 2021 annual meeting, aimed at treating wrist arthritis. This innovative system enhances carpal stability and allows for natural wrist motions, offering an alternative to traditional wrist fusion methods. Early clinical feedback has been positive, with over 2,600 cases of related systems performed since 2015. The TWA System is designed in collaboration with leading surgeons and aims to restore wrist function and improve patient mobility.
Anika Therapeutics (NASDAQ: ANIK) has received 510(k) clearance from the FDA for its Tactoset® Injectable Bone Substitute. This clearance allows Tactoset to augment hardware and support bone fragments during surgical procedures. With this expanded indication, the addressable market now includes augmentation of suture anchor fixation, a significant growth area for Anika. Tactoset, launched in Q4 2019, is a calcium phosphate-based biocompatible bone graft that enhances surgical outcomes. Anika plans to actively market this indication starting in October 2021.
Anika Therapeutics (NASDAQ: ANIK) announced their participation in the Morgan Stanley 19th Annual Global Healthcare Conference, taking place virtually on September 15, 2021, at 2:00 p.m. ET. Dr. Cheryl Blanchard, CEO, and Michael Levitz, CFO, will engage in a fireside chat. Investors can listen to the live audio webcast on Anika’s website under the Investor Relations section, with an archive available later. Anika focuses on early intervention orthopedics, creating minimally invasive products to enhance patient active living.
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.