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. (NASDAQ: ANIK) is a global joint preservation company focused on early intervention orthopedics, osteoarthritis (OA) pain management, and regenerative solutions based on hyaluronic acid and implant technologies. This news page aggregates company-issued updates and market-moving announcements so readers can follow how Anika’s clinical programs, product portfolio, and financial performance evolve over time.
News about Anika commonly covers quarterly and annual financial results, including performance in its Commercial Channel and OEM Channel, as well as commentary on operating expenses, cost-saving measures, and capital allocation decisions such as share repurchase programs. Investors can also find updates on governance and compensation topics, including amendments to equity incentive plans and inducement grants made under Nasdaq Listing Rule 5635(c)(4).
A significant portion of Anika’s news flow focuses on clinical and regulatory milestones for its key products. Examples include updates on the U.S. pivotal Phase III FastTRACK study for the Hyalofast cartilage repair scaffold, the filing of the third and final PMA module for Hyalofast with the U.S. Food and Drug Administration, and progress toward a U.S. New Drug Application for Cingal, the company’s non-opioid, single-injection OA pain management product. Releases also describe commercial milestones, such as Cingal surpassing one million injections worldwide and the growth trajectory of the Integrity Implant System.
Corporate and leadership developments are another recurring theme. Anika issues press releases on planned leadership transitions, board changes, and strategic refocusing around its hyaluronic acid portfolio and regenerative solutions. By reviewing the ANIK news stream on this page, readers can monitor how clinical data, regulatory submissions, commercial performance, and governance actions shape the company’s position in osteoarthritis pain management and orthopedic regenerative medicine.
Anika Therapeutics (NASDAQ: ANIK), a global joint preservation company specializing in early intervention orthopedics, has announced its plans to release second quarter 2024 financial results after market close on Thursday, August 8, 2024. The company will host an investor conference call on the same day at 5:00 p.m. ET to discuss financial results and business highlights.
Investors can access the conference call by dialing 1-800-717-1738 (toll-free domestic) or 1-646-307-1865 (international) with the conference ID 1679035. A live audio webcast and accompanying slide presentation will be available in the Investor Relations section of Anika's website at www.anika.com. The call will be archived and accessible on the website shortly after its conclusion.
Anika Therapeutics (NASDAQ: ANIK), a global joint preservation company, announced on July 16, 2024, that it granted non-statutory stock options to a newly hired non-executive employee on July 1, 2024. The options cover 2,500 shares of common stock at an exercise price of $25.85 per share, matching the closing price on the Nasdaq Global Select Market on the grant date. The grant was made under the Anika Therapeutics, Inc. 2021 Inducement Plan, as amended, and approved by the compensation committee. The options will vest over three years, with one-third vesting on each anniversary of the grant date, contingent on continuous service. The options expire after ten years and were granted as a material inducement for employment, in accordance with Nasdaq Listing Rule 5635(c)(4).
Anika Therapeutics has announced the full market release of its Integrity Implant System in the U.S., expanding its hyaluronic acid (HA) regenerative portfolio. The system, designed for rotator cuff and other tendon repairs, includes a HA-based implant and innovative arthroscopic instrumentation. Since its release in November 2023, over 300 surgeries have been performed, showing high market demand. The Integrity system offers superior tensile strength, suture retention, and tear resistance compared to leading collagen implants. It has demonstrated greater regenerative capacity in clinical use, supporting faster and stronger healing in diverse tendon repairs.
The U.S. soft tissue augmentation market, valued at over $190 million and growing at a 7% CAGR, presents significant opportunities in orthopedics. The Integrity Implant System is positioned to become a new standard in tendon repair, with its full market release coinciding with Anika's participation at the 2024 AOSSM Annual Meeting in Denver.
Anika Therapeutics announced inducement grants on June 3, 2024, including non-statutory stock options for 96,525 shares at an exercise price of $29.35 per share and restricted stock units (RSUs) for 38,520 shares. These grants were given to Stephen Griffin, the newly appointed Executive VP, CFO, and Treasurer. The stock options and RSUs will vest over three years, contingent on continuous service. The options expire in ten years unless terminated earlier. The grants were issued under Anika's 2021 Inducement Plan, complying with Nasdaq Listing Rule 5635(c)(4), and did not require stockholder approval.
Anika Therapeutics announced a cooperation agreement with Caligan Partners, appointing Joseph Capper and William Jellison to its Board of Directors.
Capper, CEO of MIMEDX, and Jellison, former CFO of Stryker, bring nearly 50 years of combined MedTech experience. They will serve on the Capital Allocation Committee. Anika also initiated a $40 million share repurchase program, replacing the previous one from April 2023.
The buyback includes $15 million through a 10b5-1 plan by June 2025 and the rest in the open market by June 2026. Anika aims for $25-$30 million in adjusted EBITDA for 2024, a 75% increase from 2023.
The Board will temporarily expand to ten directors until Jeffrey Thompson's retirement in 2024, post which it will have nine directors. Caligan agrees to support the Board's slate in 2024 and adhere to standstill and voting commitments.
Anika Therapeutics, Inc. announced the appointment of Steve Griffin as the new CFO, effective June 3, 2024. He replaces Michael Levitz, who will stay until December 31, 2024, to ensure a smooth transition. The company aims to accelerate its pivot to profitability with Steve's expertise.
Anika Therapeutics, Inc. reported a 7% increase in revenue for the first quarter of 2024, with revenue reaching $40.5 million. The company is on track to achieve its 2024 revenue guidance and adjusted EBITDA guidance of $25-30 million, signaling a significant improvement over the previous year. Anika's strategic initiatives have resulted in cost reductions and improved financial performance, positioning the company for continued growth in the orthopedic market. The company's recent business highlights include strengthening its leadership position in OA Pain Management, advancing its HA-based regenerative solutions pipeline, and achieving milestones in profitability. Anika expects accelerated growth in profitability in 2024, with revenue projections ranging from $168 to $173 million and adjusted EBITDA projected to increase by over 75% compared to 2023.
Anika Therapeutics, a global joint preservation company, granted non-statutory stock options to a newly hired non-executive employee under the 2021 Inducement Plan. The options cover 3,800 shares at an exercise price of $26.49 per share, equal to the closing price on the grant date. The vesting schedule spans over three years, contingent on continuous service, expiring after ten years. The grant was made in line with Nasdaq Listing Rule 5635(c)(4) as part of the employee's compensation package.
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