ANIK - Earnings call transcript Q2 2024 | Anika Therapeutics, Inc.

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Operator

Good afternoon, ladies and gentlemen, and welcome to Anika's Second Quarter 2024 Earnings Conference Call. [Operator Instructions] I will now turn the call over to Mark Namaroff, Vice President, Investor Relations, ESG and Corp. Communications.

Mark Namaroff

Thank you for joining us for Anika's Second Quarter 2024 Conference Call and Webcast.

Our Q2 earnings press release was issued after the close of the market today and is available on our Investor Relations website located at anika.com as our as our supplementary PowerPoint slides that will be used for the discussion today. call Dr. the on me today are With Cheryl Griffin, Officer Executive and Chief and and Steve Executive Officer; Vice Blanchard, President Treasurer. President, Chief Financial and Please to a moment open slide take and slide presentation #X. the refer

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

an Cheryl and I'd like over the quarter presentation and in several may second now adjusted press reconciliation end of Blanchard. per share, to way GAAP the they adjusted measures, addition In EBITDA, presented with comparable CEO, provide earnings accordance income financial XXXX of release. more adjusted We addition, call financial of used margin, of during financial and the the financial to the And adjusted gross turn we GAAP business. the of net the refer which provide an which adjusted adjusted even non-GAAP call, Dr. measures considered include to believe measures, are performance. A measures non-GAAP deck viewing of in are measures. reconciliation at aspects But our President and and our available that complete GAAP understanding operations results measurements to GAAP our our when most results additional with or non-GAAP to

Cheryl Blanchard

to Please everyone, X. Good slide joining for and us. thanks turn afternoon,

greatest our progress results great accelerate the making and XXXX, to value areas strategy through on Now the midway our our profitability. to refocus the drive the shareholders on deliver business of we're to execution path that that

of full Our the of as the year. release completed the the regenerative our year efforts have expense beyond rest first initiatives integrity, operating we newest the this XXXX cost of for market savings announced and our realize to and in stage half savings significant set product

new speak as System, launches, Regenerative in units Let highlights key Steve me or to we're new of for to of meaningful quarter, the our Implant through X-Twist turn timing we more a in EBITDA Orthovisc for as that and â„¢ walk the the lower very X% financials Integrity was of second pleased HA-based our very results we X% U.S. then quarter seeing XXXX. due the Acid the call review our strategy progress delivered and business path the revenue making adjusted XX% I'll and joint by refocused growth quarter XXXX. to the strong we're our margins the and during the quarter and profitability. which restoration, delivered In guidance particularly say over to second you our to Hyaluronic moment. healthy to Monovisc Overall ordered of of I'll I'm in on product preservation

tremendous maintained of year-to-date. U.S. international driver expansion Cingal, new be all choice as OUS becoming both Sports market continued ] with to continues marking despite and country X our position quarter, up a conjunction revenue last while This to for normalize. and and Society Orthovisc, surgeon OA was price Integrity Medicine, continued offset XX% our important step the higher cash a Monovisc U.S. in market an Meeting expected year, Monovisc leadership business, updates, business well. Pain to and the partner full is Orthopedic as International with drive balancing the of or across key as countries, expansion been the growth we dynamics legislation July by of This Orthovisc. Portfolio of volume. market continue The many AOSSM In ASP U.S. value growth, Anika very sales Management is softer which marketing well and announced perform remains profitability will we as as works of [ treatment In regenerative across brands our on in American strong of pricing Orthovisc to Monovisc in other by as Pain key market has foundation OA strong impact share X% the and and access, flow begins Cingal release OA our to key Pain Annual lower in we the driven with by improve gains growth our portfolio. interest

market originally the the from pull the strong new of This the more marketplace with and During the for half the expected. foundation surgeons have in the surgeries used our Integrity limited response space representing completion customers the the to limited spaces, double market release in ankle the over across shoulder who XX% foot demonstrates the during XX expectations second surgeons and XXXX. about than Customer our we exceeded regenerative with release, completed with XXX Anika. cases of setting than of growth over

adding Integrity fact, success focused from With trend regenerative XX% XXXX. on increase a focus who growth to regenerative continue excited specifically solutions. to this our limited on we new cases more and still we expect and in our ongoing also Anika's distributors great differentiated In have than through QX, about products, in we saw growing are initial release, in QX while seen

the and is continue clinical Integrity, very presence developing we important, expansion for build market to As both market high-quality adoption. evidence for in a surgeon

MDR support our the to prospective provide study pain, to Investigator of such, the end start plans on data study for will the assess Integrity launch cuff ultimately, and identified well the multicenter As as to as to positioning strategy been needed of the EU U.S. year. and the enrollment expected is a MRI This in sites filing, our rotator in outcomes-based started clinical tendon by reinforce and initiating we Integrity the process function clinical healing. have

them In will that Implant on addition, will Hyalofast, to of remain by post-market track studies significant next Anika's best ourselves we position Integrity end effective papers the modular Integrity from the on obtained our drive order FDA file also the positive pleased PMA system ongoing yield data. PMA with year. year. With submission part that clinical The an results of first the have clinical to presentation to review. I'm report the respect closely near-term we for currently regarding in recently follow-up portfolio. We'll as of module process work feedback of growth regenerative for this we to

represent choice. remains Cingal, driver work more by NDA. the aim make key With key by We their submit required than received our OA requests. we data strategy FDA year. additional U.S., Cingal sold the outside we in feedback next-generation to growth Our market pain to respect a further before can from now provide as regenerative we an as the FDA on regulatory the We non-opioid meeting end a integrity enabler Anika's countries XX of the are on continue to the XXXX. updates planning bring and product and to required communications prepare for progress to of the technologies clarify of the are Hyalofast launch nonclinical and the for on with regular having

see We in continue truly U.S. our will a when increases the that it international to approved strong game that confidence Cingal growth changer be is

on delivering our slide, focus this reiterate like value to I'd on Lastly, shareholders. our to

program. including value, deploy profitability continue new in taken shareholder of OA to strategic improve share generate enable and ] We position explore outsized to to highest combined Management focus our capital our to profitability deliver These areas strategy highest value. into alternatives to for strategic all our shareholder investments accelerate Anika shareholders of refocusing our million investments, continued opportunities. business We've a our XXXX Please through the returning turn growth business towards cost with slide actions while to actions to to significant our regenerative that X. and capital assessment alternatives, [ $XX Pain buyback solutions

quarter, OUS shareholder including and value our of drive therapy to I essential call and moving to a the innovation HA-based forward. will at review franchise Monovisc drive Orthovisc, our a Cingal market XX-plus grower for and is of our Steve Before it's like next-generation representing year billion gel product heritage, strategy pain differentiated $X turn with Management HA portfolio, Anika's with U.S. and the form is be I'd injection the strong results OA core in the Pain HA the review products. to value OA what a Cingal, pain OA regenerative over continuing to to to addressable and and our

proven. are us allow transform various technologies regenerative HA Importantly, highly that though, our clinically into forms proprietary uniquely our to HA already

of into a HA forms technology regenerative [ technology, it which that biopolymer. modify our ] numerous turn is to products. This those resorbable allows develop One us Hyaff is to we

products For Hyalofast. with done even that other Integrity fibers to and to and example, we've nonwoven create with we are can as net, as be Hyaff such that materials use woven used woven create

about and surgeons with for data the patients coming regenerative now. we've give product the treat. we and both driven Our proprietary that sold HA have future, the of our what both XX we of and OA in and with leverages Using Hyaff create needs technology, recognize We'll success over clinical cartilage products detail innovation Integrity pain XX-year talk countries in technology new clinical to is they unmet spaces, in meaningful real done clinically soon. the one but over in that pipeline now abilities I'll products Hyalofast, our single-stage product proven more with solve our you transformed have XX unique solutions Hyalofast. repair publications highlight by We the pipeline our already

has use commercial and feedback additional additional to of we're from by wait currently with engagement up the repairs are tell with to initiatives. integrity the Anika configurations unmet now needs will shapes, to brought and you as team. technologies Anika our With Steve we thrilled we're to wrap repair tendon body. ]. will specifically He's to pull that our different speed made with [ on designed be I'm I These working up HA to the in coming all fresh the an Integrity, the be products surgeons, Hyaff-based on business key driving a eyes about same [indiscernible] will our portfolio getting that more over seeing saying of how and tremendous set proprietary sizes future. have part treat structure real-time tendon direct progress but address into immense leadership exciting I'll expand can't forward

over our for review Now the him to financial to I'll XXXX. call turn guidance and results

Stephen Griffin

patient leadership in same This second international to million. Management June. timing in at in the great overview I'll quarter, primarily In second to sales the commercializing was million down quarter sales family, of that the OA team due on second $X.X Orthovisc, as Anika and the results I'd partner was enter line quarter by decreased share growth of Please HA and with on growth OA passionate reflect Integrity attention representing This on programs early generation this the our with driven the new limited million. sales to as I XXXX, X-Twist, offset and energized built Joint generated of XX%, quarter to and of next orders. release brands, by second more market about opportunity the in revenue Anika Cingal impressive management U.S. the where of Anika the this result from on as X exists well I've partially the an history lower unlocking Revenue begin developing world. exciting revenue lower contributions because increased X% the our and as of join markets as around quarter, we walk joined after all of full opportunity and an Each in It's U.S. team online mature Anika. highest meet X in moment refer the technology Restoration to I $XX.X impressions largest Preservation to prior with is outcomes. to quarter, shareholder in to and we quarter like products here pain to to with a to our $XX.X products. international in second Before by of returning led Pain period our continue in Monovisc, XXXX regenerative expectations, in the had by the the as million the of and rich patients deliver XXXX. mission-oriented employee of grew X% distributors. total a the for solutions our with technologies gain compared value take higher-than-normal product shipments my presentation, disclosed. of in as the joining to of time slide $XX.X these an previously refocus through

Our continues to an revenue we revenue regenerative expect avenue solutions portfolio, the into as growth second including growth to XXXX. be total half Integrity, of important see for continued

prior line the points mix versus product Gross in XX% the change quarter Lastly, the by quarter, prior by was XXXX. our year the non-orthopedic was in Pain to mature by margin sales. gross was first XX% $X.X adjusted guidance, quarter operations. improved driven year revenue driven with U.S. in stabilized lower the Year-over-year, margin from Sequentially, margins primarily margin of the the XXXX, prior with the down sales and period. Management in basis gross XX% of million, XX line decreased second in XX%, in given in gross OA

moving EBITDA lower activities timing primarily Now $XXX,XXX U.S. in line U.S. The as XXXX. net with restructuring OA million million totaled $XX Adjusted sales quarter. in track remains in $X.X an expenses year initiatives. was second expense lower million the operating these cost cost million, to to restructuring in in income XXXX. quarter Pain the million adjusted second the loss generated Management profile in with loss offset of net generated the taken OA savings the quarter million, $X.X quarter of compared down expenses. $XX.X operating the $X.X of $X.X on income of was XXXX. actions net for the full from Anika to of the company year. and The net million, the Operating prior Management the from This quarter benefit down includes savings a cost the the quarter associated recent orders the of second due Pain in a to achieve first $X.X from the from was of prior quarter adjusted in quarter

the used used the facilities our solutions liquidity. result quarter In regenerative capital. second primarily working and we a $X.X Now support $X.X to and an of cash in cash quarter, Capital turning Pain based growth were million, $X.X Management as operating and XXXX, versus $X.X as lower million in improved expenditures to in our investments we flow to as the up improvement in of profitability continue make million Bedford, OA Massachusetts HA manufacturing portfolio. million

in As of repurchase million XXbX-X Cheryl referenced, quarter, the we $X.X initiated a second stock purchased stock. plan in May. common And we

purchased debt. As the we our cash XXXX, million no second line of prior million $XX.X $X $XX repurchase complete share We with the to before ended cumulatively week, in initial with expect in and June this have approximately million year-to-date plan quarter and commitments.

Now year turning for to full I'll provide slide review of XXXX. X. a our financial outlook

Management contributions expected prior XX% XXXX million, expectations guidance. anticipate legacy Non-orthopedic of decrease of revenue X% lower of by XXXX. and to now million stronger to first the lower as between full adjusted track sales. by initial million year OA offset half be up for the shift the estimate full our million of OA the softer growth in $XXX and million, change higher-margin sales, flat modestly X% towards previously pain range $XX to performance to revenue XX% result Pain international deliver X% line to million of pricing, integrity, user pain product $X million below sales We on sales. sales. U.S. Joint XX%, market and and roughly to remains $XXX OA be of a provided. lower, and deliver million end slightly of $XXX lower-margin by revenue, Management X% $XX Preservation This $XX end revenue mix XXXX. million We versus of partially with of the versus total result to is to release growth Restoration a a by is remains EBITDA to million, $X.X $XX.X on versus with between U.S. international as OA expectations $XXX Pain are stronger driven a are anticipated between maintaining to track from offset offset

be our year projected to to this of from gross EBITDA We XX%. margin Please adjusted metric as expect decided remove adjusted predictability of dependent we note have guidance and approximately between the is highly full mix margins that the framework products sold upon international. U.S.

value. the investments Integrity, for portfolio. products, to long-term as for highly our which our the performance In key call half shareholder from With with focus HA I'll grow profitability the cost We in the opportunities in on continue turn market-leading over to the profitability international total second will work Management summary, growth that, as and solutions the portfolio, realization year and deliver a strength to outsized second including regenerative the our demonstrates for to quarter we Cheryl. OA products the focus sales improve Pain company the of that to of continue of revenue back savings now this our differentiated measurement in

Cheryl Blanchard

of the slide full their to demonstrated quarter regenerative the strong, to turn customers, pain X. commitment Please The generation patients shareholders second delivering closing, advancing next technology. was where for management while that Anika to develop a and In release enables and differentiated and our to provides engage that highly product access of control Integrity to surgeon us new customers care. with orthopedic directly early intervention our market with advance market products we continue

for and opportunity set of growth ahead Management lies foundational the Pain U.S. recent franchise and our international OA in that pillar Our value Anika Cingal a remains the demonstrates

value all creation refocused continue our strategically opportunities. initiatives, on highest strategy clarity provides ROI we assess business to Our while

forward our the possible more the work, and team. up to our look without about questions... sharing their Anika member progress in and hard proud coming I'm open line of wouldn't resilience of Lastly, With be we'll that, progress months. every we the for date to

Operator

gentlemen, first Thank from comes will [Operator you. Sidoti Ladies Your now Jim from session. question and the question-and-answer Instructions] Company. we begin Sidoti

James Sidoti

headwinds So those for it there's internationally the those like enough in growth that to products? U.S. offset business. some on headwinds? the pain sounds Is management the Is

Stephen Griffin

The short answer is yes.

are reaffirming here outsized of or the we the really, the of that We continue will the XX%, really some in revenue first done up second well, has but half will the growth total how referenced Pain. first our quarter that year, see you'll half, saw offset OA expect And on it able we guidance this and into on performed softness somewhat moderately be it side. quarter, that, first to the lower the that than you in U.S. that do

James Sidoti

then And couple next distribute you Cingal, comments that how expect of and to have Hyalofast new for you of products? to the some plan years, the in initial any like products on those

Cheryl Blanchard

Yes, a me that the on starting publications, the that core have early about so call product excited Hyalofast, put regenerative that very intervention obviously that's sell, product And we're portfolio a process, for FDA It's of product. and XX to lots as on data that has about, we engage we've already talk very that year. to as together. strong data, XX-year this you will we're with clinical we heard really have a

to on you So expect Hyalofast. hear us I can think from more

pain and model announced we I clearly relative States. But different that we Management that consider we a other more Cingal, the United OA Regarding anything OA products. deploy fits haven't is have product a would today portfolio, distributing with that into our how think, that, to we in that obviously Pain

to on that to more I come Cingal. relative think

James Sidoti

these Were quarter? it initiatives in a we have like any expect onetime the difference. really And forward? the should cost savings levels seems cost Or going made savings there

Stephen Griffin

the a when basis, see the on items, by in Yes. to year-over-year actions. about will on your look just here, you conclusion able of of Those think you seeing look the adjustments We're back quarter. forward driven is it taken a $X we real I release, out, nonrecurring move at the you those but onetime continue I OpEx at when take driven the first right. been lines press million by mean cost that savings as those were actions the you've

Operator

Stephens. comes The Parsons Harrison from question from next

Unknown Analyst

the is from just more segment. Preservation Joint just percentage are Restoration products growth mature in of little products to declining? Or that do wanted that the make they you're your dig it about those? slower seeing a those and bit comments I segment up? around What And

Cheryl Blanchard

largely quarters. products couple declining. of legacy are We are products about in growth, of It's of some for it I them talked sure. We percentages the today. by a about certainly There have prior we've that all talked and Integrity broken newer JPR out with any to haven't say, being in like kind some, obviously them either not would kind X-Twist flat, this that business offset that's and products as higher

the acid. products going the at So continuing I of new to focus think forward, got the as lot we hyaluronic where really on products leverage is our that you'll a made here And see we've really we've investments. Anika us expertise around new

report we out forward So look the growth of on particular. to the new to continuing to relative in products that business

Stephen Griffin

well, only is, the might is as that's the you're to and tell, start going see through. quite to really add thing to JPR benefits I can where the that the come of of specifically, you Integrity regenerative And performing the launch business piece

now saw and to as the the So up we that first of year, we part pick of second the in that into the year. we half portfolio head growth coming from expect mid-teens regenerative half the of

Unknown Analyst

segment, just year that of guide? And on and to get full dig into beyond you wanted just that to Integrity driving -- staying to are the I kind any products X-Twist then just growth that

Cheryl Blanchard

full market Integrity. are rotator full just other just chosen Integrity We obviously month version into it's I X-Twist got about fixation are And There the in but we're million-plus release allows because cuff on days, are tissue soft X-Twist to think that focus driving to those that growth, market market on early newer of full on the now but to side. address us of the Sure. release products the biocomposite we've that and $XXX now products. a

portion if out. the will way, those portions forward. to tell obviously think would we the So go of we chose continue part you are of Hyalofast that and well. that business want though Tactoset, those about products piece also to X growing is and JPR JPR is the We'll business doing update the X I regenerative includes business, you which as say, of point higher that that that a I to why very it of really,

Operator

from next Barrington from comes Petusky question Research. Mike Your

Michael Petusky

Cheryl, growth guys were the expansion, for of and international that recently them you any in enter and guess, OA out country second countries which new or you of the said called I sort did guys you quarter?

Cheryl Blanchard

Yes, I'll tell we've you, a business, of country certainly America country, that say but the I'll Mike, I to we Europe When kind typically launch don't forward. will going And break you happens, a regions our expand to material out in to I it's tell specifically continued the haven't when new America, we unless that and into let know. you South would change really going expanded numbers we that's Latin new in materially.

sell. of distributors even from that I share up really has come countries the we continued it get we a bigger country, the a good And the of of of in for think new ground and and bit is market feet their little on news those capture when time already portion the running. in growth get kind that to takes which launch

really have growth some we're what in much countries, impact with think in OUS I launch that products actually very that really markets. the see as That's significant to It's the grounded they number really and we're seeing get of and to business. of chance drive into propel So new exciting us. for starting we those a nice

Michael Petusky

regular where the to much got days that the communication there of lot called there? terms we're okay, is XX -- communication of, out, dialed additional last there needs we've has this going to Cingal, you still FDA happen in pretty say, to that On need guess, Or what you in, so are I or learnings with I mean, do? there the a

Cheryl Blanchard

a questions would feedback. to ahead with We it's it And with We they great another and from us quarter some that they constant them to a had went and questions the to communication FDA. in We're that out additional last gave reported love schedule have go those Yes, it's back come back meeting. topic us be feedback some was faster. going with question. we

we're before of sure starting just in say, testing. we nonclinical progress represents around the process that topics begin really to, any So we want to in we're I we would like we additional get because feel that. good full make hone on doing the that clarification And

we providing So progress a thinking about being of to is how timing. the made, we're forward fulsome the relative update to there and by look more year end that

Michael Petusky

that U.S., you And make understand, to then I and to your is what for for on what for I study that is proposition also can and you strengthen -- for confirm you the want sure understand -- what of the guys primary I guess, value are the understand understand I I motivation and what that think time the want first Integrity MDR enroll the costs filing, I just the I planning reason guess, guys, all, just but this or in for frame? to then that over I to do that is, make sure and motivation

Cheryl Blanchard

Yes, absolutely.

study It's filing as be been we've twofold. market is been stages going. is market this technology. So get set III we limited to know We that to that in Class to really planning the Europe access in need a clinical release. good high-quality this marketing, the in clinical drive we're to really in which data is the excited for the superior have prior possible a used than we it MDR have be. now, States know way But different in able device, we to of It data high-quality to United with is because that

started. though, I of to to next it's studies year. clinical that it excited again, going United So the in are some twofold ongoing get we in really post-market tell couple already publications have yield nature. we're And States a you will

for for to data to begin marketing what going that need have we'll get data kind higher-quality the the U.S. coming MDR So of some purposes before and out filing. we access the market we're consider would clinical clinical to I

Stephen Griffin

year year will to of cost breakdown that the the don't half of this we continue and expense in on It to next I'd of an for little offset be what of the say some into necessarily cost Yes, but and we'd savings line. a second it expect as start well. study, each share bit on seen the details the operating is the we've

of while the that work earlier, quarter but So take some eat cost will bit into will the $X about fourth a expense of the out to operating here study play to it mentioned a I quarter those as a -- against number we've of million into in degree associated It way savings, little as seen expense. drag savings we with our alone. years overall some this second of

Michael Petusky

patient sense number? Any of enrollment

Cheryl Blanchard

you in I'll tell it what, from excitement timing. line very in I'm forward clinical looks those clinicaltrials.gov, make And clear the around bit the to posted, like, going going as more a details with number have details. study on design trial look I'll complexities a as have and get to to any all of in a better detail to we patients that's you soon once enroll. clinicians that posted about going It's little position through for be we to provide It it enrollment. doesn't difficult get a of that what to we sight

Michael Petusky

XX some share market? the been cases done X it's days or you been limited very, of, in already curious, I early you surgeons Integrity till long release that X, weeks, the understand can terms just last can long launched? just mean, the hey, there release, I terms XX full Integrity, however market of has Is totally or days last in in XX is these you very, share of I'm were there anything very guys however but have X, of they've in in anything market full

Cheryl Blanchard

really are even construct the all something that I'm streamlined track it's technique a Yes, They're all, it posting that play absolutely. regenerative outlets. They're it's the excited the times factoids first that We're of a getting I wet, are to. They they're and or about multiple surgeons fact some fact that it. a to out has patients when videos seeing on the that It's that share. we're using I day and an clinically. not there and other I'd of healing are tremendous. are about feedback arthroscopic getting and be increased media rehabilitating interesting is mean, that social rapidly LinkedIn happy strength that and I of instrumentation capacity appreciative talking allograft. the xenograft surgical that higher excited think

and ability us our are like exciting terribly really our like a constrained focused all that's I'll different the the And the real to like tendon. you heard you fact I'd immediately getting of The a we increased that fact tell we're 'boy, where investments me expertise here. regenerative and make release market of pipeline geometry. a really XX% in that this this products. that are a And confidence some development surgeons we're use lot real from there's regen I even feedback to really the that I'd a where right which these we in a the But in distributors, HA the from around of and So shape proprietary we're Anika These way supply, things us from for in again, is ROI even The sign. the has product portfolio on the had leverages this technology, QX, community. some different mention signing new to is I'd think, factor.' some are getting. surgeon limited to give that on that win. our with a QX is feedback distributors pull saying,

Michael Petusky

in terms of cases actually done market? have numbers the Any since surgeons that full

Cheryl Blanchard

the in I [ would script. I say Elmar surgeons mentioned had in ]. that yes. XX over -- We've it Oh,

Michael Petusky

the -- was wasn't it or That in market limited

Cheryl Blanchard

release, market right. that's limited the In

that XX% think I mentioned XX% that at also fact Anika. looking the you -- we're are new about quarter-over-quarter and growth the of about If surgeons to

You at doing think this week just of it month, way. very a new beginning just beginning customers good can I have about month. seen the of number this the at of the already that cases

with level different of it's customers So new and pull type again, totally different product to a a of Anika.

Stephen Griffin

a XX% experienced short what to here what The for and growth continue time. is period of we sequential we've expect

more excited back to get share year. So of we're to we the as the half

Michael Petusky

surgeons? And make cases, sure understand I that's correct? just to I want Or

Cheryl Blanchard

XX% is cases.

Operator

time. call. you at gentlemen, for Ladies today's and conference no are concludes There this Thank questions further participation. your this

You may now disconnect.

Anika Therapeutics (ANIK) 8 Aug 242024 Q2 Earnings call transcript