Anika Therapeutics, Inc.: management transactions · United States · SEC (Form 4)

About Anika Therapeutics, Inc.

Anika Therapeutics, Inc. is a U.S.-based company listed on the Nasdaq market (ticker: ANIK), making it a closely watched small-cap healthcare name for investors focused on orthopedics and medical technology in the United States. Headquartered in Bedford, Massachusetts, United States, the company was founded in 1992 as a spin-off of MedChem Products. Over time, Anika has built its identity around hyaluronic acid (HA) science, using that technology platform to develop products aimed at joint preservation, early-intervention orthopedics, and osteoarthritis pain management. ([sec.gov](https://www.sec.gov/Archives/edgar/data/898437/000117184324001380/anik20231231_10k.htm?utm_source=openai)) Anika’s business is centered on two main product families. The first is regenerative solutions for orthopedic repair: Integrity™ is an HA-based scaffold for rotator cuff and tendon repair, Hyalofast® is a single-stage cartilage repair scaffold, Tactoset® is an injectable HA-enhanced bone substitute, and NanoFx® supports advanced bone marrow stimulation. The second pillar is osteoarthritis pain management, led by Cingal® (a next-generation HA plus corticosteroid injection), Monovisc® and Orthovisc®, both HA-based viscosupplements used to relieve knee OA pain. This portfolio gives Anika a focused position in orthobiologics and joint-preservation care, rather than a broad hospital-supply or general orthopedics model. ([anika.com](https://anika.com/products/?utm_source=openai)) Commercially, the company combines direct and partner-led distribution. Anika highlights an international footprint, with certain products such as Cingal available in more than 45 countries through a global distributor network. In the U.S., Monovisc and Orthovisc are marketed and sold exclusively through J&J MedTech, while outside the U.S. they are sold through Anika’s commercial partners. That structure gives the company leverage in some markets while also limiting direct control in others, which is an important feature for investors assessing revenue mix and operating margin potential. ([anika.com](https://anika.com/about-anika/?utm_source=openai)) Recent company updates have been centered on pipeline progress and a more disciplined cost structure. In 2025, Anika reported positive developments for Hyalofast, including the filing of the third and final PMA module with the FDA, and continued work toward an NDA submission for Cingal. Management also announced a $15 million share repurchase program in 2025 and, in early 2026, described actions to reduce general and administrative expenses as part of a broader operational transformation. The latest results also pointed to improving commercial momentum in its direct channel and continued focus on profitability. Overall, Anika remains a specialized orthopedic platform story, with value creation tied to regulatory execution, product adoption, and the conversion of its HA pipeline into durable growth. ([ir.anika.com](https://ir.anika.com/2025-11-05-Anika-Reports-Third-Quarter-2025-Financial-Results?asPDF=1&utm_source=openai))