ANIK - Earnings call transcript Q1 2021 | Anika Therapeutics, Inc.

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Operator

Good evening, ladies and gentlemen, and welcome to Anika's First Quarter 2021 Earnings Conference Call. [Operator Instructions] I will now turn the call over to Mark Namaroff, Executive Director of Investor Relations and Corporate Communications. Please proceed.

Mark Namaroff

Thank you. Good evening or good afternoon, everyone, and thank you for joining us for Anika's first quarter conference call and webcast.

as press today issued our using and website at earnings of the Investor for quarter PowerPoint located market supplementary the is www.anika.com, the first discussion release we'll after was close Relations slides today. Our that the be of available on me With the today call on Dr. is, Chief President Treasurer. and and our and Blanchard, Officer Executive Officer; Michael Financial Levitz, Cheryl Chief Executive Vice President,

well key as Anika's call, our first will quarter business Cheryl highlights, results financial today's XXXX. as During of review with discuss view and XXXX Mike

Slide So to please take slide presentation a X. moment and and welcome I refer number to

anticipated Before or about from our current our Company's factors future and presented statements please are that as future results beliefs and statements events recent with and during statements the Act made that forward-looking the filings differ we financial risks that differ of and uncertainties. by most The materially Please our for XX-K also These occur begin, Exchange XX-Q expectations, of today. and Securities including results, certain call Anika affect statements to COVID on defined of subject Form respect constitute on understand data impact statements our certain make based from achievements. no today to forward-looking actual XXXX. information to these performance. performance SEC any or update obligation more see We could the statements are could risk

used reconciliation earnings GAAP slides viewing complete press Accepted per financial way accordance measures the during We our EBITDA to of with adjusted income, business. Principles. Blanchard. which measures that which net of understanding most considered to number the now measures, performance, are operations includes end to GAAP results adjusted addition, a CEO, and quarter of our of call adjusted in provide In and available with and non-GAAP financial I'd believe available results when Accounting but call, more first measures, an and in to the or President And non-GAAP even GAAP in Generally or Cheryl the non-GAAP we additional the provide they aspects at refer may and Dr. addition A share, adjusted our presentation of Cheryl? of like GAAP financial these of our to over turn comparable an are release. the adjusted measurements reconciliation presented

Cheryl Blanchard

Thanks procedures clinicians start restrictions. measures and Mark. that Good more everyone, with elective vaccines safety off the good albeit to to perform freely, with continued enable to evening, start it promise COVID feels XXXX will

We growth transformational rate. compounded where support to our products, and to mid-teens in processes active we living. the ultimate restore continue digit to to we patients will day recognize there in uncertainty that rearview range of That behavior, leading and double Today growth every to said, environment. is COVID rates variance helping on be company revenue emerge And our are vaccine continue single spikes focused preservation continue for mirror, vision COVID shown to and joint goal as to digit doubling We're from recent XXXX the growth of we're that I'm the systems the viewing scaling people's of by high XXXX. has we revenue cause globally. and making business some strategy, positioned now in the year that with our ongoing XXXX on longer history goals our is continue track the we're us investments likely excited low as XXXX new achieve the

winter storms surge first we rates in and whole. progressed quarter some the start of post-holiday due first me for QX We as a February through improved we did to with you industry began turn to X. in the headwinds can country that if the highlights and Let that to COVID quarter, procedure the the Slide see the impacted as series experience

side On organic Joint last growth year drive XX% increased the transformative continue revenue mix Arthrosurface to business, with from with Preservation the revenue Medical, over surgical of and the and shift. along Parcus Restoration which the addition of

Preservation our for and and Restoration XX% Joint and for the view to into win Restoration we products quarter, ambulatory in and of very surgical revenues have joint particularly We're setting. last Preservation from believe total a invasive the XX% driver. and orthopedic significantly fact Anika and excited the strong We In and global represented a regenerative to as integration surgeons continue we as of key Arthrosurface see Joint about joint favorably, our portfolio growth in the center minimally our progress demand year. right Parcus business increasing preservation preservation view

joint XXXX XX% by was inventory sales Mitek, last due down pre-COVID levels, ongoing management business expected. continues from as Our to our from year's partner primarily marketing pain which and management J&J

products We COVID. to partnership last are and recovery market Overall, in viscosupplement the revenue X% pleased the continued decreased J&J XXXX. positioned for have to US from a due to of the impact our Mitek be through leading with year, with strong

positive to preservation. the last to on volumes, impact primarily the Parcus in EBITDA On the Arthrosurface COVID's and acquisitions and the delivered for investments we're accelerate due we adjusted growth year, joint line, bottom our related of making than quarter, growth lower

strong million a show in to with financial $XX position cash almost and investments. continue We

like to see turn Please over review financial Mike Slide to walk to of the shaping how remainder the call the I'd up. details, hand X. through I you XXXX Before we to

pipeline with goals. provide adjusted also how we of and our more financial to X, our Mike. with portfolio, strategy, We'll stated presenting we We're scheduled in detail and planning Investor team look our product me of June members with plan discuss also for double the process ahead, Investor we commercial goal Day XXXX R&D achieve alongside where the EBITDA currently additional and specifics our management you objectives we achieving more Day As will some XXXX doubling on XXXX from growth. Virtual our by of of on our the revenue in digit focused remain company XXXX

when our the compared more and provide support positive with joint choice flow osteoarthritis in markets. our orthopedic soft have traditional opportunity medicine, in OrthoVisc we total management And management the Anika leverage now global care, billion legacy market cash joint for sports reminder, US. one early technologies. the intervention solutions, regenerative pain areas to opportunity and tissue MonoVisc and pain higher repair preservation with a goes these replacement strong the faster growing $X position well an business. that to grow bone innovation as orthopedic for combined strength joint solutions us our investments beyond that includes remaining of well the commercial continue These We'll and As preserving business number and osteoarthritis

worldwide platform technologies joint using HA invasive is at clinical preservation to US faster. surgical study that impact, studies support our for to deliver and clinicians, resume Hyalofast of clinical with surgical Our prevent Cingal to trials call our so those travel our clinical continue outside on our from other especially enrollment now organization commercial COVID we'll to the And aspects and point. respect organization to patients US regenerative including living in active differentiated leverage the our and rely can efforts, established restrictions both team having surgeries traveling commercial where With the invest sites. our continues an ongoing products based to developing innovative products, the minimally further meaningful solutions

and in details our updates We regular to on plan Day trials X. Investor will Slide refer Please to provide more during these continue June. give to

opportunity previously last course the I the the As of to market of Arthrosurface with Parcus, and mentioned, $X months. XX expanded acquisitions over our now has billion over

joint and in Hyalofast pipeline and repair our the includes opportunity in States more by is through mentioned. detail. with an the with the in US additional for is expertise $X combination products driver in pain progressed catalyst Mitek how some with The needed. HA which acquisition the in sell sell as is with XX joint addressing distributors over you more provide outside bone foundation we be internationally. includes through Anikavisc call for and me an osteoarthritis OrthoVisc in legacy technologies where portfolio planning coming OA continue to Let technology the products our osteoarthritis outside which will of be the over injectables market call is opportunity in point HA leading process that preservation is period. solution larger on Tactoset Cingal the market our entered and XX addressed management point. over bone-sparing steroid of and sale very supporting future center second-generation in billion also enhanced and for space, with unmet once product we a countries disease fractures the countries is driving outside our represents making MonoVisc late growing business for in our We're legacy Leveraging pleased the XXXX ambulatory preserving that acquisition we that a our It both Anika preservation United and and J&J market medicine, This will pain sold comprised US In growth XXXX joint faster HA we our is growth management entered $X solution sales single in previously R&D the for that US, billion our Hyalofast it than is repair joint Arthrosurface, products. in insufficiency already surgeons once XXXX. HA the need cartilage of of of our Tactoset also with playing the regenerative billion Anika $X of years, billion Parcus key HA in sale in approved US market, in based we're surgical period. solution years. released soft is I approved stage the tissue progress areas innovator which today portfolio further our and focused outside over the implant leverages for the $X solutions XX the the includes treat of And The broad sports to as a in respect our lastly, interest to than

and Mike? invasive minimally the in in intervention, highlight the multiple hand, I'd provide over and are review bone comments. ankle. that focused and quarter and some spaces addressable some first joints, why to turn implants and opportunities joint financials treat specialized shoulder, like the color and I'll preservation that, the The market. orthopedic Our call With elbow of within on remainder provide foot market significant large our early we're then Mike wrist about progressive preserving closing and to including larger XXXX this osteoarthritis to the

Michael Levitz

walk XXXX. will of Thank you, you Cheryl. for through first the results now our quarter I

was last If decrease you X% from quarter due reflective million, for $XX.X year. progress pre-COVID in quarter would ordering of early revenue QX of and of we a over X% turn impact was primarily January in management Arthrosurface The primarily Slide COVID Restoration $XX.X begins to quarter in Joint year. decreased Joint lift quarter, last impact full by increase and year-over-year the both the as acquisitions million the from sales decrease the please and revenues volumes, the million the to from and results of X, making revenue around last associated organic in $XX.X year, on XXXX quarter to COVID offset of year's to for end to Parcus are to XX% due the market. of which on Arthrosurface patterns. to the Parcus, the growth the first of XX% last due primarily and pain of the injectables in-office numbers and the impact first occurred rose Preservation COVID revenues the of

through Mitek J&J last of to had to levels by quarter inventories end down quarter. the leaner reminder, a the historic and purchased expected year the second the pre-COVID had levels As of fourth

first than from to purchases higher time, to line same have COVID However, J&J they stabilized. inventory first At the the quarter end-user headwinds, are in continues of with this our impact consistent us normal sales year-end. our their based were the expectation that XXXX still US which quarter Mitek, due quarter royalties this of year. our And on back are this through at the viscosupplement from post-holiday with

increasing mix million products, first Restoration care joint legacy the of the to and last continued quarter from Arthrosurface significantly of As XX% period total Parcus the $X up wound last overall mentioned, result the revenue to acquisitions million our $X.X sale with same compared and due revenue year. Anika's shift in to continued for to Joint Preservation Other as revenue year, momentum our a of preservation products. up was and Cheryl of revenue, product of

sales quarterly are can family the As a basis. reminder, other our product distributors be and through on lumpy

that on and periods of one an related is Our associated up the amortization expenses to based expenses. cost point, the gross million quarter was related margin prudently. fair improved QX impact which acquisition as accounting a in while From or acquisition margins and point first compared standpoint, variances of accounting operating XX%, Parcus. manage non-cash unfavorable step includes with we year spending value continue expenses non-cash Gross $X.X included both XX favorable our to last Arthrosurface

meet are We investing systems and processes objectives. our intentionally in growth to product development,

expenses of acquisitions as and Our million research the compensation, totaled XXXX, SG&A up million to additional spending period future together from and first as our development organizations. the incentive-based Arthrosurface commercial related support growth, in and $XX.X well same as of Parcus, in the reflecting quarter, and increased primarily such in $XX.X investments support

milestones primarily consideration reduce certain associated a $X.X first liability benefit with be the net we quarter, Arthrosurface Parcus, likelihood our of due also decrease contingent fair million to of will that acquisitions During of recorded the met. a to the value and

estimated we of its Anika contingent last a of unfolding. evaluate the value consideration the based benefit quarter consideration contingent first As recorded quarter estimated year in $XX.X every on as initial of in reduction fair was reminder, COVID million a and

Our of effect in XX% of effective XXX%, year, value the tax the last same a compared of primarily consideration. benefit for to was the the tax change due to effective fair in quarter contingent the of an estimated rate period rate

for or or net compared income share, first million last in net the $X.XX of year. diluted Our was quarter per to of $X.X million $X.XX share $X.X diluted per the income quarter

adjusted earnings net both charges well or primarily with last online EBITDA $X.X release the period year. investments of Similar million other COVID of share, Excluding addition for compared quarter was $X.XX presentation, income or per the achieved $X.XX We first discussed unfavorable in in the the and and share impact, to due diluted same earnings $XXX,XXX non-cash we of adjustments growth. the in future to $X.X profitability supporting decrease quarter, per to the of $X.X compared our diluted generated and our Parcus as earlier in our adjusted described last as last quarter million, million incremental Arthrosurface first and year. the

flow strong $XX.X Lastly, first sheet the remains the end with million investments capital in cash regards our at our structure, with cash and to of balance and quarter.

cash valued liabilities. have at quarter, within customer Arthrosurface with used $XX.X a operating We had liability to We remaining contingent collections tax associated in $X.X payments. to $XX.X million for primarily of the which certain million of million Parcus, activities and current consideration of due acquisitions included the Please is net timing turn of X. during Slide

like our XXXX. would directional I to review for Now outlook

quarter COVID due As the continued last associated global we uncertainty discussed the to in with market.

We are to this directionally and year would our and At detailed the we the with expectations the time, for at quarter full share like insights for financial not same qualitative you quantitative guidance year. into providing time.

potential rollouts, and variance. timing additional second for that very of believe We and and dynamics and the XXXX, on dynamics continue to COVID recovery half in point our nature to These and the other globally as remain results a the have trends such impact vaccine material on States depending fluid could spike United market are the a in of expectations. COVID

in organic Preservation demonstrated quarter Restoration as results of first and first last our Joint revenues, year. the growth compared to pre-COVID The quarter in our

As COVID lifts. a impact result of momentum growing as of the

XXXX. Joint growth For growth to the XX% Restoration full-year we revenue Preservation in over upper the low expect XX% and XXXX,

and other the showing products. for XXXX. percent than legacy Joint XXXX our stabilizing sales therefore On to We and business better of between first the Pain Pain with on XXXX company the single consistent expect earnings digits, call and consistent the signs on to grow of double Joint the low the compared gross some digits the With of March. expect families, between March in gross growth we have expect we during XXXX. and strong our impact last of excluding main Joint digits other believe Arthrosurface quarter timing what that's XXXX, revenue high margin, to the XXXX, directional mid-single continue call, revenues, over provided rest fairly guidance with we to as Management regards we consistent percent, in market decline of Parcus in we year, to to out laid as we revenues which we enable as XXXX due revenues investment XXXX in to the our the single remain outside margins performance other recovery in And into recovery. to we In is support acquisition expenses, continue to a as expect regards and also grow. increasing gradual commercial and gradual legacy and Joint mentioned, for we With will our including Management based in related scale, expect that in us incurred We second systems on the we Pain the last XXXX basis, low and capabilities, spending, seen transformation are lower year we our total growth is Management those of processes to double-digit Preservation, such revenues charges, year. quarter people, product and infrastructure in therefore of to continue compared product digit non-recurring

discussed marketing Overall, the as in will growth ahead invest continue Investor COVID of also pipeline restrictions growth targets. and as will and associated at development we the we've Day profitability longer-term research Further in sales-related and according of further discuss support lift, to our June. to and to expenses invest we We expect increase our in with product accordingly.

EBITDA now adjusted Cheryl. over turn our doubling and double increase revenues XXXX growth revenue. profitability. for as by XXXX XXXX percentage to our a of delivering off XXXX on the of multi-year to I focused base transformative growth and will back targets call digit expenses of our track laser operating over on expect We We remain

Cheryl Blanchard

we In Joint turn early ability execute HA have and us into the scale on Preservation to Slide efficiently to we opportunities closing, new continue the technology to business. orthopedic solutions. invest innovative X. that Mike. in Please will and allow intervention and for believe in unique growth infrastructure We and our that proprietary strategy space leverage products our to Regenerative Thanks

we're product described, legacy in franchise. first the make beyond Mike product, in to has the viscosupplement channel, in the to substantial the to value As now and to generate continue progress the process people XXXX we new shareholder step we'll and years the Anika the come. company making HA grow the pipeline view the as sales the continue to

take like opportunity Anika. take I'd at questions, the I the Before thank to to team

the We very our have and bring folks to protocols, customers group to much of June Anika all take a We dedicated have diligently We're our team. Thank you great to and very COVID Anika. questions a X. by safety of attention carefully products that through hard you worked big Day Investor thank now. you to during following work your at forward support on happy seeing for your look to

Operator

[Operator with from Instructions] comes Company. Sidoti Sidoti Jim Our first question &

Jim Sidoti

you Hi, well. evening. are guys good Glad to hear, doing

you First on update your question inventory that with because script the mentioned I into is QX? was high Any COVID. where at on going that QX, in of J&J, had of start

Michael Levitz

did expect forward single we expectations of are big low didn't end It coming a COVID as of a noticed, spike growth. to not we Jim, first the to the the we are it's be bit continue as but quarter, as digit year out Mike. wasn't Yes, impact and of at inventories that to here. the year. - for change Hi, surprise we going into we big go that - storms we I don't you inventories alluded continuing the an we the last and the given see year as we that of our so expect does

I the a because So related we're absolutely just year quarters, full end the given to guidance the has from changed same. But said COVID it. for has and as uncertainty year and the perspective, nothing remained from giving not guidance,

Jim Sidoti

in I right to year. that don't coming be historically, too some and QX other push the going full in you QX. but your to want high as said not know year, you I'm had - rest All of and might up the I specific product get sales know is from you generally not

think think So And QX as as should QX? high do trend? you XXXX, to that's change that at enough you for be least

Michael Levitz

Mike is Yeah, Jim, this again.

are we the first lift things to and second in expected year. half. being historic be one further That COVID the than to of dynamics is as is that dynamics, there don't that's just normal second quarter half said, signal where tried been to we've bigger that half recognize be pattern, to So the do is this expect we generally expect and the quarter second the COVID that here the bigger the first different do the than

Jim Sidoti

new I we on level Is well Okay. higher. then as would looks base - that about And R&D forward? Is it a that to be little expect what - going assume well, that the expenses, should operating it's XX bit million? the

Michael Levitz

Jim. sorry, I'm question? the repeat you Could

Jim Sidoti

SG&A there expense? onetime Was any XX million a Is expense expense going the in SG&A for forward? good baseline

Michael Levitz

I'm you. didn't Thank hear sorry, I it.

of of lighter to little terms compensation was timing upon QX the based at incentive year-end just QX the spending, SG&A bit accruals. saw things in And there was QX QX. In is one than we from

look related of that $XXX,XXX And in a to about growth. quarter. first so normal trend forward in to the There legacy a also system if QX, at see item that was our first XX-Q write-off G&A you'll from generally the impacted in one there of quarter going impairment was the you

So trend year. apart the look you last when from to through start at that

things adjustments I a COVID not about, talked think there was year team investment SG&A lot it's a the fairly XXX% the with year. so straightforward. incentive are was of driving The is was we there at are in evolving growth things and clearly last in the that last compensation

up. we because and I specifically really your sure aside, clarify to terms just question expect things saying to sold the we something other expect out And On did called of amount answered back that remarks trends. I I things first is overall and to high - there's in in the what We nothing that between in a so we line that good these the than to an guidance. And effectively, in expect that go down. referring prepared do one our unusually revenue full-year you do so quarter legacy of basis, of want make were products quarter to first J&J the second down we've quarter. in quarter been we put with think I different be was but last those if go think to I want our you

So the of QX was relates the unusually normal but business of it as other, the to applies, high subject seasonality for rest course to COVID.

Jim Sidoti

Okay, on last a of me there? million one and down sales Or is about quarter, the Is then up. for the inventory sold is in the inventory, quality some $X there function other your it's dynamic were being that off? -

Michael Levitz

nothing on really There perspective. really there inventory. There's going from a nothing unusual is unusual in trend

nothing been that make adequate that inventory we so unusual side. but from different trying there have do inventory things is sure the to meet is quarter-to-quarter, on things to happening the of One different just demand, are mix we've that a and

Jim Sidoti

you. Thank Alright.

Operator

We'll Research. next Mike take our Barrington with question from Petusky

Mike Petusky

Hi guys.

Cheryl Blanchard

how today? are Hi, Mike, you

Mike Petusky

great, Few relative all have your parts may in estimating you're pre-COVID patient there? thanks. outset, What of volumes did terms levels? your at Cheryl, for the at speak you're I What sort of to out estimates the Doing key you to business. missed but hearing of this terms questions, of in I guess,

Cheryl Blanchard

activity, in surge about talking just product - purchasing You're

Mike Petusky

Well, on on the I sort surgeon of Management the and both guess Pain side?

Cheryl Blanchard

let speak Yeah, Yeah. me that. to

kind are happen regions and globally, spikes we COVID different recovery and especially moderated but seeing COVID definite by time. where we're different over what seeing of in So countries a

trend see to on quickly more that of half be getting we say COVID there side, that is I is then second, for more We increases to and the seeing on fronts. any urgent the tend they their I do the the and both different surgical I both the feel the pending surgeons think, solid patients strong that's But so and are bit speak we second if coming a injection about side back why that I more a could of there their injections. business in think of back, on definitely focused better and injections pretty focused is activities than a year, a see US think the that we surgeries return be recovering surgical dynamics.

So improve going again half think seeing are very of second knowing of sort forward. that to the the we year, moderation not into about COVID I happen results continuing what optimistic with could

Michael Levitz

that at or remarks numbers, so organic it in and were And the where was to and in Joint growth the as with encouraging very that the one see those to year. And the nice Management of my Restoration in numbers was above dynamics we Preservation royalties levels. saw of in QX side, were Pain on in they last the pre-COVID I line that prepared mentioned see

encouraging in to some direction or it's for laid what whether and these with the quarter it's hard see that consistent definitely this we've sign things So how from say year. what last pent-up is will is not an the to the or moving to trend of that going out go, but it's

Mike Petusky

guys how channel. product and introductions I new How growth products sort sort or you new top I got? from, you goal line between I now line coming - new then in sort mid of, range is already teen what mid-teens in guess growth you and Joint something long 'XX. sort like When 'XX of there. going you're of, seven Because much think that that talk top revenue longer-term how assumption to of assumes, how you toward the talk that's you've about launch area guys, is stuff of in And Preservation continue mean, the what's from 'XX. general I development? a to of still much and get around Obviously, about to mean products much assumption

Cheryl Blanchard

you, of couple primarily of to tell excellence would already I years and we've ahead us of question. which commercial products of have, commercial great that be we execution that, a it's just all, Yeah, at first we've you launched. first that's going the here some got if around only of look recently

with haven't Preservation the the medicine, implants. sports to regenerative continue products we And spot really preserving will hit growth solutions, curve of yet. they Joint side launch their So, bone on sweet with then with

late would show you'll launched toward start product And I yet, COVID the then the so we launching up recall in hit. just talked launched products XXXX of the Tactoset probably numbers launched Last products. we think we'll But say - new we K-clearance last XXXX. this because and year. that received, haven't year, a we And more risk to years out we about in that year, I in number

have and the of and really of products, in, continue a product as impact drive are are some timeframe. XXXX XXXX, we those to portfolio then next great that do products definitely significant we to So to recent going sort couple of going a have growth years launches existing launch of

Michael Levitz

And the we is would think smaller in - different folks of just sports now where a change only to - cadence add I a launches. product is medicine, that it's there I we're recognize for noticed just thing an fair to of cadence that increased

big really think focused latter I the contribution year, we've have an past, big in have, large the last about not may think it's talked products we're the in products on. how new more I and of demonstrate of these we're launched we of they as innovation they the impact, that indicative but XX the to half going - but individually

Cheryl Blanchard

a product new more solutions, launched, shorter cycle upside. innovation little have a tend on they so time Regenerative to for quicker have potentially those have to bit those. Yeah, and and turns development curve different with greater tend lifecycle with get times tend you The adoption take to that product when

XXXX. a will that through mix see it's So

Mike Petusky

the ops of free basically million overall for you a cash your question Mike. I some? is of, about for cash $X then about back numbers gave sort of cash Okay, first my quarter. and positive guys, $X.X then half? and all in free flow second The positive you from flow I cash round of quarter second sort ops generating million cash had positive - guess And flow question in guess from free that Thanks. what's the feeling flow

Michael Levitz

the year, mean, positive during flow I generated challenges this we we even to Yeah, last the that do think and we year demonstrated last I we expect cash year. same free COVID

that's and $X.X had pretty a quarter EBITDA There of to timing positive I adjusted and some payments You some good the we of quarter, in saw it flow. was think - indicator. we other million in have some cash some had are this payments that fund growth for tax the collections. first amount said the think, future. we cash timing first in I free positive generating be expect definitely to rental that But we flow we continue the year, What to reinvesting positive of is

preservation space. And what us really and make this for as is company year XXXX toward started in transformation the continuing a year so last more pivot that joint the key we

investments. So incremental we making are

We are positive a cash of in but the position still it, cash flow, free some we reinvesting where for year. taking that are flow free we expect

Mike Petusky

All thanks. right, good, very

Cheryl Blanchard

Thanks Mike.

Operator

the would additional any time. this remarks. no have at for turn to closing questions or to further like Blanchard I We Cheryl back conference

Cheryl Blanchard

like your I'd and thank interest Great, evening. and for to everybody today in great for have joining Anika a

Operator

today's We your conference you participation. thank does conclude for That call.

You may now disconnect.

Anika Therapeutics (ANIK) 9 May 212021 Q1 Earnings call transcript