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Anika Therapeutics (ANIK) develops, manufactures, and commercializes therapeutic products for tissue protection, healing, and repair. Its products are based on hyaluronic acid (HA), a naturally occurring biocompatible polymer found in the body.
The companys products include ORTHOVISC, ORTHOVISC mini, and MONOVISC for the treatment of osteoarthritis of the knee and various other joints; Hyalofast, a biodegradable support for human bone marrow mesenchymal stem cells that is used in connection with soft tissue regeneration; Hyalonect, a woven gauze used as a graft wrap; Hyaloss, HYAFF fibers used to mix blood/bone grafts to form a paste for bone regeneration; and Hyaloglide, an ACP gel used in tenolysis treatment.
It also provides wound care products that comprise Hyalomatrix and Hyalofill, for treatment of complex wounds, such as burns and ulcers; and Hyalograft 3D and Laserskin scaffolds for use in connection with the regeneration of skin, as well as ELEVESS, an aesthetic dermatology product for facial wrinkles and scar remediation. In addition, the company offers AMVISC, AMVISC Plus, STAARVISC-II, Optivisc, AnikaVisc, and AnikaVisc Plus that are injectable HA products used as viscoelastic agents in ophthalmic surgical procedures, such as cataract extraction and intraocular lens implantation. Further, it provides Hyalobarrier, a post-operative adhesion barrier; INCERT, a HA product for the prevention of spinal post-surgical adhesions; and Merogel, a woven fleece nasal packing, as well as Merogel Injectable, a viscous hydrogel.
Additionally, the company offers HYVISC, an injectable HA product used for the treatment of joint dysfunction in horses. Anika Therapeutics, Inc. markets its products directly, as well as through a network of distributors in the United States, Europe, and internationally.
Shares have formed a bullish "flag" after the Food and Drug Administration gave marketing approval for the drug Monovisc for osteoarthritis of the knee. According to Anika's press release, Monovisc "is a single injection supplement to synovial fluid of the osteoarthritic joint, used to treat pain and improve joint mobility in patients suffering from osteoarthritis of the knee." The injection will be marketed in the U.S. by DePuy Synthes, a subsidiary of Johnson & Johnson. Anika Therapeutics announced today that Genzyme and Anika filed a joint motion with the U.S. District Court for the District of Massachusetts to lift a stay and dismiss a patent infringement lawsuit concerning MONOVISC.We expect higher share prices for this stock.
52-Week Trading Range: $12.26 - $52.49
Entry Point: $42.50
Stop Loss: $40.35
Target Price: $46.75
ANIK fell below our stop loss. Position closed at $40.30.
