Anika Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:05 pm EDT
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Anika Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 41.47 million compared to USD 40.26 million a year ago. Net loss was USD 6.58 million compared to USD 4.18 million a year ago. Basic loss per share from continuing operations was USD 0.45 compared to USD 0.29 a year ago. Diluted loss per share from continuing operations was USD 0.45 compared to USD 0.29 a year ago.
For the nine months, sales was USD 123.69 million compared to USD 116.61 million a year ago. Net loss was USD 19.67 million compared to USD 9.95 million a year ago. Basic loss per share from continuing operations was USD 1.34 compared to USD 0.68 a year ago. Diluted loss per share from continuing operations was USD 1.34 compared to USD 0.68 a year ago.
Anika Therapeutics, Inc. is a joint preservation company focused on developing, manufacturing, and commercializing products based on hyaluronic acid (HA) technology platform. The OA Pain Management product family consists of Monovisc and Orthovisc that provides pain relief from osteoarthritis conditions and Cingal consisting of its cross-linked HA material combined with a fast-acting steroid. Its Joint Preservation and Restoration product family consists of its portfolio of orthopedic regenerative solutions products: Integrity, Tactoset, and Hyalofast; its line of sports medicine solutions repairs and reconstructs damaged ligaments and tendons, and its Arthrosurface portfolio of bone preserving joint technologies, including partial joint replacement, joint resurfacing, and minimally invasive and bone sparing implants. Its Non-Orthopedic product family provides orthopedic applications, including adhesion barrier product, advanced wound care products, and ear, nose and throat products.