Oct. 29, 2014, 4:11 PM| Comment!
Feb. 26, 2014, 12:46 PM
Feb. 26, 2014, 9:43 AM
- Anika Therapeutics (ANIK) surges 41% to $48.67 following the FDA's approval of the company's Monovisc single injection for pain caused by osteoarthritis of the knee.
- The authorization must feel pretty sweet for Anika - it first applied for approval over four years ago.
- Summer Street has hiked its price target to $60 a share from a prior PT of $47.
- "We believe this product will be competitive in a market that is becoming more focused on single-shot injections," Summer Street says.
- There are 27M people in the U.S. who suffer from osteoarthritis, which occurs when cartilage breaks down in joints, causing pain and stiffness as bones rub together.
- Sanofi (SNY +0.1%) and Zimmer (ZMH +0.4%) sell rival products.
Feb. 26, 2014, 9:16 AM
Feb. 25, 2014, 4:54 PM
- Anika (ANIK) has made new 52-week highs AH following news the FDA has approved its Monovisc osteoarthritis drug.
- The drug will be marketed in the U.S. by orthopedic sports medicine firm Mitek Sports Medicine. Anika will receive a $5M milestone payment once sales commence, and potentially additional milestone payments down the road.
Jan. 2, 2014, 12:45 PM
Oct. 31, 2013, 10:24 AM
- Anika Therapeutics (ANIK +10%) rallies sharply after breezing past the Street's profit expectations for Q3.
- Revenue rises 20% Y/Y while net income jumps 212% helped by an easy compare with Q3 2012.
- Cingal clinicals contribute to a 33% Y/Y increase in R&D.
- Cash position at quarter's end was $64.1M versus $44.1M as of December 31, 2012.
- Gross product margin rises 19%, helped by "ongoing initiatives to realize planned operational efficiencies, as well as more favorable product mix and the elimination of the unprofitable tissue engineering operations."
- The company calls demand for Orthovisc "solid." (PR)
Oct. 30, 2013, 5:45 PM
Aug. 1, 2013, 12:45 PM
Aug. 1, 2013, 10:29 AM
- Anika Therapeutics (ANIK +27%) soars after reporting Q2 earnings that easily topped Street estimates late yesterday.
- Total revenue rose 6% year over year, spurred by increased viscosupplementation product revenue and particularly strong domestic sales of its Orthovisc joint fluids replacement.
- Gross margin improved to 68.5%, from 57.2%, driven by consolidation of its manufacturing facilities, increased operational efficiencies, a more favorable product mix, as well as the elimination of its unprofitable tissue engineering operations since the beginning of 2013.
- R&D expenses increased 40.9%, reflecting higher expenses for its Cingal clinical trial and other planned product pipeline initiatives, but SG&A expenses decreased by 17.2% as ongoing cost reduction initiatives helped boost bottom line performance.
Feb. 28, 2013, 2:04 PMAnika Therapeutics (ANIK +15%) rallies sharply today after easily beating Q4 estimates yesterday. Total sales grew by 23% Y/Y, driven by strong demand for Orthovisc - revenue in its U.S. market was up nearly 42% for the full year - and bottom line margins benefited from cost savings from its restructuring efforts. | Comment!
Feb. 28, 2013, 12:53 PM
Feb. 27, 2013, 5:50 PM
Jan. 22, 2013, 1:43 PMAnika Therapeutics (ANIK +3%) says that it expects FY12 and Q4 to come in better than expections. Q4 revenue should come in around $22M - $23M, above the current consensus estimate of $20.6M. For FY12, it expects to equal or exceed its previously announced guidance of $0.74 net income per diluted share. Additionally it's appointed Sylvia Cheung as its new CFO, effective April 1, 2013. Cheung will replace Kevin Quinlan, who is leaving effective March 31, 2013. | Comment!
Dec. 5, 2012, 12:45 PM
Dec. 4, 2012, 6:11 PMAnika Therapeutics (ANIK) says it's received correspondence from the FDA's Chief Scientific Officer of the Center for Devices and Radiological Health upholding the agency's previously disclosed, non-approvable decision for ANIK's Monovisc PMA. ANIK had utilized the FDA’s appeal process to continue to discuss the Monovisc PMA with the FDA, and plans to schedule a meeting as soon as possible to determine the next steps. Shares -1.8% AH. | Comment!
ANIK vs. ETF Alternatives
Anika Therapeutics Incdevelops, manufactures and commercializes therapeutic products for tissue protection, healing and repair.The Company through its subsidiary has over 20 products currently commercialized, mainly in Europe.
Other News & PR