Anika Therapeutics Inc Stock Price, News & Analysis

Anika Therapeutics (NASDAQ: ANIK) showcased its joint preservation portfolio at the 2022 AAOS Annual Meeting in Chicago from March 23-25. Key products highlighted include the OVOMotion® with Inlay Glenoid Total Shoulder Arthroplasty (TSA) System and Tactoset® Injectable Bone Substitute. CEO Cheryl R. Blanchard emphasized ongoing market interest and plans for future product introductions. The OVOMotion® system offers significant clinical advantages, while Tactoset® enhances surgical efficiency. The company aims to lead advancements in orthopedic care and has launched a redesigned website for comprehensive product information.

Anika Therapeutics (NASDAQ: ANIK) announced the grant of stock options and restricted stock units (RSUs) to newly hired employees as part of its 2021 Inducement Plan. On March 1, 2022, three non-executive employees received NSOs for 9,529 shares at an exercise price of $31.50 and RSUs for 4,280 shares. Additionally, on March 11, 2022, a fourth employee was granted NSOs for 8,029 shares at $25.58, 8,535 shares at $28.14, and RSUs for 7,372 shares. The NSOs vest over three years and expire ten years from the grant date, enhancing employee compensation and retention.

Anika Therapeutics, trading as ANIK on NASDAQ, will participate in the Canaccord Genuity Musculoskeletal Conference in Chicago on March 22, 2022, at 9:30 a.m. CT. The event will be available via live audio webcast on Anika's Investor Relations website, with an archive accessible later. Anika is known for its innovative joint preservation therapies and focuses on early intervention orthopedic care, particularly for osteoarthritis, sports medicine, and regenerative solutions. The company's headquarters are located near Boston, Massachusetts.

Anika Therapeutics (ANIK) reported a 10% year-over-year revenue increase in Q4 2021, reaching $35.8 million, with full-year revenue rising 13% to $147.8 million. Key revenue drivers included a 17% increase in OA Pain Management and a 23% rise in Joint Preservation and Restoration. Despite a gross margin of 51%, adjusted gross margin fell to 57% due to COVID-related challenges. The company reported a net loss of $5.8 million for Q4, narrowing from a $15.7 million loss last year. Looking ahead, 2022 revenue is expected to grow low to mid-single digits amid ongoing market volatility.

Anika Therapeutics (NASDAQ: ANIK) announced the granting of non-statutory stock options for 10,428 shares and restricted stock units for 4,699 shares to three new non-executive employees as part of its 2021 Inducement Plan. The options, with an exercise price of $31.50, will vest over three years, contingent upon continued service. The RSUs also vest in three equal installments over the same period. This action was made to incentivize the new hires and did not require stockholder approval.

Anika Therapeutics (NASDAQ: ANIK) is set to release its fourth quarter and year-end 2021 financial results on March 8, 2022, after market close. The company will also host an investor conference call at 5:00 p.m. ET the same day to discuss these results and business highlights. Interested parties can join the call by dialing the provided numbers or accessing a live audio webcast through the Investor Relations section of Anika's website, where a slide presentation will also be available.

Anika Therapeutics (NASDAQ: ANIK) announced the grant of non-statutory stock options for 1,069 shares and restricted stock units (RSUs) for 468 shares to a new non-executive employee on December 1, 2021. The stock options have an exercise price of $38.53, equal to the closing price on the grant date, and will vest over three years. The RSUs will also vest in three equal installments. These grants were part of the 2021 Inducement Plan and serve as a material inducement to employment.

Anika Therapeutics (NASDAQ: ANIK) announced the participation of Dr. Cheryl Blanchard and Michael Levitz in upcoming investor conferences. They will present at the Piper Sandler 33rd Annual Virtual Healthcare Conference from November 29 to December 2, 2021, with a pre-recorded presentation available on November 22, 2021. Additionally, they will attend the Stephens Annual Investment Conference in Nashville, TN, on December 3, 2021, featuring a live presentation at 11:00 a.m. CT. Webcasts of both events will be accessible on Anika's investor relations website.

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.