Anika Therapeutics Posts 1Q17 Orthobiologic Revenue

Anika Therapeutics posted 1Q17 orthobiologic revenue of US $20.2MM, +3.3% vs. 1Q16. (Ex-U.S. +12%)

1Q17 performance highlights:

• MONOVISC +24% worldwide, U.S. +26%, ex-U.S. +15% (main growth driver for company)
• End-user demand continues to shift from ORTHOVISC to single-injection MONOVISC domestically and internationally
• Continued patient enrollment in Phase III MONOVISC study for hip OA pain (IDE sponsored by DePuy Mitek)
• “Domestically, it behooves us and Mitek to give that transition from multi-injection to single injection a little push. Financially, it’s better. We think we can get more share that way.”—Charles H. Sherwood, Ph.D., President and Chief Executive Officer
• Commercial MONOVISC launch in Australia and India slated for 2H17
• Domestic MONOVISC and ORTHOVISC maintained combined market leading position
• Finalized the clinical study design for additional Phase III trial of CINGAL: randomized, double-blind, active comparator controlled, multi-center trial investigating ability to provide relief of knee OA symptoms in patients who have not responded to conservative treatment; three treatment arms include CINGAL, MONOVISC and a steroid; first patient treatment expected in 2Q
• Launched ORTHOVISC-T in Europe, as expected, to treat pain and restore function in tendons affected by tennis elbow; expecting Phase III trial for U.S. approval to start in 9 to 12 months
• >7,000 treated with HYALOFAST 3D scaffold internationally; initiated 8 new trial sites in Austria within 2017
• Opened new EU HQ/training center in Italy, to support global demand for entire portfolio by end of 2017 (about 3x as much space as previously had)

Sources: Anika Therapeutics, Inc.; ORTHOWORLD Inc.