Anika Therapeutics reports Q3 adjusted EPS (25c) vs 23c last year

Reports Q3 revenue $38.8M vs $41.465M last year. Cheryl R. Blanchard, Ph.D., Anika’s President and CEO commented “OA Pain Management remains a strong, foundational component of our business and is a key aspect of total company profitability. Domestically we possess a market-leading position in the viscosupplement market with Monovisc and Orthovisc. Outside the U.S., where we manage our commercial sales process, we grew 14% year to date as our teams increased the market share of Cingal, Monovisc, and Orthovisc, and expanded into new countries. With respect to Cingal in the U.S., we are making solid progress towards the NDA filing. We recently acquired the Aristospan NDA to address a newly imposed requirement by FDA. This provides the path to access one of the critical reference drugs necessary to satisfy a bioequivalence bridging study for Cingal. We are also scheduled to commence the final non-clinical toxicology testing in the first quarter of 2025. These developments address important hurdles as we work to obtain U.S. approval for Cingal.”