Anika Therapeutics Inc - ANIK STOCK NEWS

Anika Therapeutics announced that Cingal met its primary endpoint in a Phase III study, showing superiority over steroid alone for osteoarthritis pain relief at 26 weeks. With a 71% mean pain improvement, Cingal combines hyaluronic acid with a steroid, and is already commercialized in over 35 countries. Anika plans to engage the FDA for U.S. approval and explore partnerships for Cingal's advancement in the U.S. and Asia. This study builds on prior Phase III results and positions Anika for significant market opportunities, addressing an unmet need for the 32 million osteoarthritis patients in the U.S.

Anika Therapeutics, Inc. (NASDAQ: ANIK) will release its third quarter 2022 financial results after market close on November 8, 2022. The company will host a conference call on the same day at 5:00 p.m. ET to discuss these results and highlight business developments. Interested parties can join via phone or listen to a live audio webcast on Anika's Investor Relations webpage. Anika focuses on innovative orthopedic care, particularly in joint preservation, leveraging hyaluronic acid and implant solutions.

Anika Therapeutics announces the limited market release of its X-Twist Fixation System, a new cornerstone suture anchor designed for key orthopedic repairs, including rotator cuff and ankle stabilization. The first surgeries were performed by Dr. Christopher E. Baker in Tampa, Florida. This system offers both knotless and traditional knotted options, enhancing usability for surgeons. Following FDA 510(k) clearance in May 2022, Anika aims for a broader U.S. launch in 2023, reinforcing its commitment to expanding its sports medicine portfolio within an $8 billion market.

Anika Therapeutics reported a 4% revenue increase in Q2 2022, totaling $39.7 million compared to $38.1 million in the same quarter of 2021. Key revenue segments included OA Pain Management at $25.7 million (6% up) and Joint Preservation and Restoration at $12.1 million (2% up). However, the company posted a net loss of $2.8 million, down from a net income of $6.5 million a year prior. Gross margin stood at 63%, with adjusted gross margin at 67%. The FDA granted 510(k) clearance for the X-Twist Fixation System, with a limited release planned for the second half of 2022, signaling potential growth avenues ahead.

Anika Therapeutics (NASDAQ: ANIK) has received the ACE Award from the AOSSM for its Tactoset Injectable Bone Substitute. This calcium phosphate-based product, enhanced with hyaluronic acid, improves the management of inferior bone quality, crucial for successful surgical interventions such as rotator cuff repairs. It doubles the pull-out strength of suture anchors in osteoporotic bone models, highlighting its efficacy. Launched in 2019 and FDA-cleared in 2021, Tactoset offers a simpler solution for surgeons, addressing microfractures without the need for larger hardware.

Anika Therapeutics, Inc. (NASDAQ: ANIK) announced plans to release its Q2 2022 financial results after the market close on August 3, 2022. The company will also hold an investor conference call at 5:00 p.m. ET on the same day to discuss financial results and business highlights. Investors can access the call by dialing 1-888-220-8474 or via a live audio webcast available on Anika's website. The company specializes in joint preservation and minimally invasive orthopedic solutions, focusing on osteoarthritis management and sports medicine.

On June 10, 2022, Anika Therapeutics (NASDAQ: ANIK) announced participation in the Sidoti Small Cap Virtual Investor Conference on June 15, 2022. The management will host a virtual presentation with a Q&A session starting at 11:30 am ET. Investors can access the webcast through the Investor Relations section of Anika's website and an archived version will also be available later. Anika focuses on joint preservation and offers innovative solutions in early intervention orthopedics, including products for osteoarthritis pain management.

Anika Therapeutics announced FDA clearance for its X-Twist Knotless Fixation System, enhancing its offerings for rotator cuff repairs and other orthopedic procedures. The system's design allows for versatile knotless fixation, suitable for various soft tissue applications. Anika plans to begin commercialization in the second half of 2022, targeting the growing market of nearly 670,000 rotator cuff procedures performed in 2021. This clearance positions Anika favorably within the ambulatory surgery center market, aiming for accelerated growth in its Sports Medicine segment.

Anika Therapeutics (NASDAQ: ANIK) announced on May 2, 2022, the granting of stock options and restricted stock units (RSUs) to five newly hired non-executive employees. A total of 13,091 options were granted at an exercise price of $21.61, and 16,113 options at $23.77, which is 110% of the closing price on the grant date. The RSUs covered 20,818 shares. These grants are part of the 2021 Inducement Plan and serve as incentives for employment. Vesting for both options and RSUs occurs over three years, contingent on continuous service to the company.