Anika Therapeutics reports Q3 adjusted EPS 4c vs. 7c last year

Reports Q3 revenue $27.8M vs. $29.6M last year. Cheryl Blanchard, President and CEO of Anika Therapeutics (ANIK), commented: “We continue to see strength in our Commercial Channel with Regenerative Solutions revenue increasing 25% in the quarter driven by Integrity’s outperformance, continued strong international Hyalofast growth, and double-digit International OA Pain Management revenue growth. Third quarter pricing for U.S. OA Pain Management products was in line with expectations, and we anticipate the full year to be in line with our prior guidance. In addition, J&J MedTech has exercised its option to continue our license and supply agreement for Monovisc for another 5-year term through December 2031. During the quarter, Cingal reached a significant commercial milestone, surpassing 1 million injections globally since launch. Finally, we continued to take actions to improve our operating expense profile, with Selling, General and Administrative expenses down 12% year over year, and overall operating expenses down 3%, as we continue to work to improve our profitability and free cash flow.”