From GlobeNewswire: 2025-05-09 07:05:00

Anika Therapeutics, Inc. reported a first-quarter revenue of $26.2 million, with a 10% decrease compared to the same period in 2024. However, Commercial Channel revenue saw an 18% increase driven by Integrity and international OA Pain Management. The company also achieved key milestones for Hyalofast® and Cingal® programs.

The Integrity Implant System by Anika exceeded expectations, with procedures growing for the fourth consecutive quarter. Anika is on track to double procedures in 2025, with over 300 surgeries performed in the last quarter. The Regenerative Solutions portfolio achieved 33% growth year-over-year, surpassing initial launch expectations.

Anika’s international OA Pain Management segment saw a 13% growth in the first quarter, driven by geographic expansion and market share gains for Cingal and Orthovisc. Additionally, the company achieved significant regulatory and clinical milestones for Hyalofast®, with U.S. launch expected in 2026.

Anika received feedback from the FDA on the previously reported Type-C meeting for Cingal, clearing the path for NDA filing. The completion of the bioequivalence study remains a final requirement for the NDA. Anika also completed a $15 million share repurchase plan in March, maintaining a strong financial position with $53 million in cash and no debt.

The company updated its 2025 revenue guidance, expecting Commercial Channel revenue to remain unchanged at $47 to $49.5 million, and OEM Channel revenue to range from $62 to $65 million. Adjusted EBITDA guidance was also updated to -3% to 3% due to lower pricing for Monovisc and Orthovisc and other factors impacting financial performance.



Read more at GlobeNewswire:: Anika Reports First Quarter 2025 Financial Results