ANIKA THERAPEUTICS, INC.

(ANIK)
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Anika Therapeutics : Piper Sandler Healthcare Conference Presentation

11/22/2021 | 10:55am EDT

ANIKA THERAPEUTICS

PIPER SANDLER HEALTHCARE CONFERENCE

NOVEMBER 22, 2021

ANIKA. RESTORE ACTIVE LIVING.TM

SAFE HARBOR STATEMENTS

Cautionary Note on Forward-looking Statements

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect the current beliefs, expectations, and assumptions of Anika Therapeutics, Inc. (the "Company") regarding the future of its business, including its commercial capabilities, initiatives and production, its product pipeline and associated timelines, its upcoming corporate milestones, and its growth strategy, growth targets and projections. The words "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "expect," "estimate," "seek," "predict," "future," "project," "potential," "continue," "target" and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this presentation are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this presentation, including, without limitation, risks associated with: (i) the Company's ability to successfully commence and/or complete clinical trials of its products on a timely basis or at all; (ii) the Company's ability to obtain pre-clinical or clinical data to support domestic and international pre-market approval applications, 510(k) applications, or new drug applications, or to timely file and receive FDA or other regulatory approvals or clearances of its products; (iii) that such approvals will not be obtained in a timely manner or without the need for additional clinical trials, other testing or regulatory submissions, as applicable; (iv) the Company's research and product development efforts and their relative success, including whether we have any meaningful sales of any new products resulting from such efforts; (v) the cost effectiveness and efficiency of the Company's clinical studies, manufacturing operations, and production planning; (vi) the strength of the economies in which the Company operates or will be operating, as well as the political stability of any of those geographic areas; (vii) future determinations by the Company to allocate resources to products and in directions not presently contemplated; (viii) the Company's ability to successfully commercialize its products, in the U.S. and abroad; (ix) the Company's ability to provide an adequate and timely supply of its products to its customers; and (x) the Company's ability to achieve its growth targets. Additional factors and risks are described in the Company's periodic reports filed with the Securities and Exchange Commission, and they are available on the SEC's website at www.sec.gov. Forward-looking statements are made based on information available to the Company on the date of this press release, and the Company assumes no obligation to update the information contained in this press release.

Cautionary Note on Non-GAAP Financial Measures

This presentation includes financial measures which are not prepared in accordance with generally accepted accounting principles ("GAAP"). These non-GAAP financial measures, which included adjusted gross margin and adjusted EBITDA, should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. For a reconciliation of these non-GAAP financial measures to the most directly comparable financial measures prepared and presented in accordance with GAAP, please see the reconciliation tables as an appendix to this presentation and the Company's quarterly press releases and the reconciliation available under the "Quarterly Results" tab in the Investor Relations section of the Company's website at www.anika.com.

Note: this document contains proprietary information of Anika Therapeutics, Inc. Unauthorized use, duplication, dissemination or disclosure to third parties is strictly prohibited. © 2021 Anika Therapeutics, Inc.

All rights reserved. AcTiFlip, Anika, Arthrosurface, ATLAS CMC, Cingal, Draw Tight, HYAFF, Monovisc, NanoFx, Orthovisc, OVO, OVOMotion, Parcus Medical, PF Wave, Restore Active Living, SpeedSpiral,

Synd-EZ, Tactoset, ToeMotion, Wave Kahuna, WristMotion are trademarks or registered trademarks of Anika Therapeutics, Inc. or its subsidiaries. This document also contains trademarks and service marks that

2

are the property of other companies, including certain trademarks licensed to us. The use of third-party trademarks does not constitute an endorsement or imply a relationship or other affiliation.

ANIKA SNAPSHOT (NASDAQ: ANIK)

Company Background

  • 30+ years of global expertise in HA-basedproducts; 20+ years in bone preserving joint technologies and sports medicine
  • #1 Position in HA-based osteoarthritis (OA) pain management in U.S.
  • Diversified and innovative joint preservation portfolio
    • Joint pain management
    • Regenerative solutions
    • Soft tissue repair
    • Bone preserving joint technologies
  • Full new product development pipeline including Hyalofast ® and Cingal® clinical trials in the U.S.

Key Statistics

Founded

1992

Headquarters

Bedford, MA

$650M

Market Cap1

Total Employees

~295

Countries Served

75+

2020

Adj. EBITDA2 Margin

18%

2020

Cash & Investments

$98M

Revenue Diversification

~14% YoY Growth

20192020

6%

2%8%

30%

$115M$131M

64%

90%

Joint Pain Management

Joint Preservation & Restoration

Other

RESTORING ACTIVE LIVING FOR PEOPLE AROUND THE WORLD

1 As of 11/5/2021. 2 Non-GAAP measure; see reconciliation schedule at the end of this presentation.

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ONE BUSINESS WITH TWO MODELS

JOINT PAIN MANAGEMENT

JOINT PRESERVATION & RESTORATION

STEADY, HIGHLY PROFITABLE CASH GENERATOR

ABOVE MARKET GROWTH WITH LARGE TAM

~1% CAGR Market Growth1

~5-7% CAGR Market Growth1

$1B Global Addressable Market2

$7B Global Addressable Market2

Strong Profitability

Strong Double-digitRevenue Growth

Significant Cash Generation to Fuel Growth

Significant Value Creation

Cingal Growth Opportunity in U.S. Post 2024

Hyalofast Growth Opportunity in U.S. Post 2024

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1 2019 to 2024; SmartTRAK and Anika internal estimates; 2 Combination of iData, SmarTRAK, and internal estimates.

NEW, SEASONED LEADERSHIP FUELING PROFIT, GROWTH, AND IMPACT

Mike Levitz

David Colleran

Anne Nunes

Jim Loerop

Tom Finnerty

EVP, CFO & Treasurer

EVP, General Counsel &

VP, Operations

EVP, Business Development &

EVP, Human Resources

2020

Corporate Secretary

2021

Strategic Planning

2017

2020

2019

Cheryl R. Blanchard, Ph.D.

President & CEO

Joined: 2020

James Chase

Ben Joseph

Steve Ek

Kevin Stone

Mira Leiwant

SVP, International

VP, U.S. Commercial &

VP, Research & Development

VP & GM, Sports Medicine

VP, Regulatory, Quality &

Sales & Marketing

Global Brand Management

2020

2021

Clinical Affairs

2018

2020

2019

90% Appointed to New Position within Last 2 Years

DECADES OF EXPERIENCE LEADING ORTHOPEDIC, REGENERATIVE MEDICINE, & MEDICAL DEVICE COMPANIES

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Disclaimer

Anika Therapeutics Inc. published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 15:54:02 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 154 M - -
Net income 2022 -11,0 M - -
Net Debt 2022 - - -
P/E ratio 2022 -28,7x
Yield 2022 -
Capitalization 316 M 316 M -
Capi. / Sales 2022 2,04x
Capi. / Sales 2023 1,85x
Nbr of Employees 297
Free-Float 98,2%
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Managers and Directors
Cheryl Renee Blanchard President, Chief Executive Officer & Director
Michael L. Levitz Chief Financial Officer, Treasurer & EVP
Jeffery S. Thompson Chairman
Mira Leiwant VP-Quality, Regulatory & Clinical Affairs
Steven W. Ek Vice President-Research & Development
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