<SEC-DOCUMENT>0001157523-13-005121.txt : 20131030
<SEC-HEADER>0001157523-13-005121.hdr.sgml : 20131030
<ACCEPTANCE-DATETIME>20131030160550
ACCESSION NUMBER:		0001157523-13-005121
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131030
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131030
DATE AS OF CHANGE:		20131030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ANIKA THERAPEUTICS INC
		CENTRAL INDEX KEY:			0000898437
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				043145961
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14027
		FILM NUMBER:		131179311

	BUSINESS ADDRESS:	
		STREET 1:		236 WEST CUMMINGS PARK
		CITY:			WOBURN
		STATE:			MA
		ZIP:			01801
		BUSINESS PHONE:		6179326616

	MAIL ADDRESS:	
		STREET 1:		236 WEST CUMMINGS PARK
		CITY:			WOBURN
		STATE:			MA
		ZIP:			01801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANIKA RESEARCH INC
		DATE OF NAME CHANGE:	19930309
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50739794.htm
<DESCRIPTION>ANIKA THERAPEUTICS, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2013 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table style="width: 100%; font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 11pt">UNITED STATES</font><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 11pt">SECURITIES
      AND EXCHANGE COMMISSION</font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 11pt">Washington, D.C. 20549</font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 11pt">FORM 8-K</font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 11pt">CURRENT REPORT</font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt">PURSUANT
      TO SECTION 13 OR 15(d)</font><br><font style="font-size: 11pt">OF THE
      SECURITIES EXCHANGE ACT OF 1934</font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt">Date
      of Report (Date of earliest event reported): October 30, 2013</font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt">Anika
      Therapeutics, Inc.</font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt">(</font><i><font style="font-size: 11pt">Exact
      name of registrant as specified in its charter</font></i><font style="font-size: 11pt">)</font>
    </p>
    <hr style="width: 20%; height: 1.0 pt; color: #000000; text-align: center">


    <p style="text-align: center">

    </p>
    <div style="text-align:center">
    <table style="width: 100%; font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Massachusetts
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 34%; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            000-21326
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 33%; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            04-314-5961
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(State or other jurisdiction of</i><br><i>incorporation or
            organization)</i>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 34%; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Commission file number</i>
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 33%; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(I.R.S. Employer<br>Identification No.)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table style="width: 100%; font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            32 Wiggins Avenue, Bedford, MA 01730
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>(Address of principal executive offices) (Zip code)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap; text-align: center">

    </p>
    <p style="white-space: nowrap; text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
      telephone number, including area code:&#160;&#160;&#160;</font></i><font style="font-family: Times New Roman; font-size: 10pt">781-457-9000</font><br><br>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report)</font></i><br>
    </p>
    <hr style="width: 20%; height: 1.0 pt; color: #000000; text-align: center">


    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="width: 100%; font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>Section 2--Financial Information</b>
    </p>
    <p style="white-space: nowrap">
      Item 2.02.&#160;&#160;Results of Operations and Financial Condition.
    </p>
    <p>
      The following information, including the exhibit attached hereto, is
      intended to be furnished and shall not be deemed &quot;filed&quot; for purposes of
      Section 18 of the Securities Exchange Act of 1934 (the &quot;Exchange Act&quot;)
      or otherwise subject to the liabilities of that section, nor shall it be
      deemed incorporated by reference in any filing under the Securities Act
      of 1933 or the Exchange Act, except as expressly set forth by specific
      reference in such filing.
    </p>
    <p>
      On October 30, 2013, Anika Therapeutics, Inc. issued a press release
      announcing its financial results for the third quarter ended September
      30, 2013.&#160;&#160;The full text of the press release is furnished as Exhibit
      99.1 hereto and is incorporated herein by reference.
    </p>
    <p>

    </p>
    <p style="text-align: center">
      <b>Section 9--Financial Statements and Exhibits</b>
    </p>
    <p style="white-space: nowrap">
      Item 9.01.&#160;&#160;Financial Statements and Exhibits.
    </p>
    <p style="white-space: nowrap">
      (d)&#160;&#160;Exhibits.
    </p>
    <p style="white-space: nowrap">
      99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press Release of Anika Therapeutics, Inc. dated
      October 30, 2013.
    </p>
    <p style="margin-left: 60.0px; white-space: nowrap">
      <br>
      <br>
      <br>
      <br>
      <br>

    </p>
    <p>

    </p>
    <p>

    </p>
    <p>

    </p>
    <p>

    </p>
    <p>

    </p>
    <p style="text-align: center">
      [Remainder of page left blank intentionally]
    </p>
    <p style="text-align: center">

    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURE</font>
    </p>
    <p>
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      registrant has duly caused this report to be filed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <p>

    </p>
    <div style="text-align:center">
    <table style="width: 100%; font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="width: 50%">

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Anika Therapeutics, Inc.
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td colspan="3">

        </td>
        <td style="width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; width: 50%; text-align: left; padding-bottom: 2.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated: October 30, 2013
          </p>
        </td>
        <td style="padding-left: 0.0px; width: 3%; text-align: left; padding-bottom: 2.0px" valign="top">
          By:
        </td>
        <td style="width: 4%; border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 23%; border-bottom: solid black 1.0pt; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Sylvia Cheung
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="padding-left: 0.0px; width: 3%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 23%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Sylvia Cheung
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="padding-left: 0.0px; width: 3%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; width: 23%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Financial Officer
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      Exhibit Index<br><br>
    </p>
<div style="text-align:left">
    <table style="width: 100%; font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; width: 15%; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="top">
          99.1
        </td>
        <td style="padding-left: 0.0px; width: 85%; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release of Anika Therapeutics, Inc. dated October 30, 2013.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
  </body>
</html>
<!--<!DOCTYPE html
     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
<!--<!DOCTYPE html     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50739794_ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2013 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Anika
      Therapeutics Reports 20% Total Revenue Growth and Record Third-Quarter
      Earnings</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Total
      Revenue Grows to $17.8 Million</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Net
      Income Rises to $5.0 Million and EPS Increase to $0.33</b></font></i>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      BEDFORD, Mass.--(BUSINESS WIRE)--October 30, 2013--Anika Therapeutics,
      Inc. (Nasdaq: ANIK), a leader in products for tissue protection, healing
      and repair, based on hyaluronic acid (&#8220;HA&#8221;) technology, today reported
      financial results for the quarter ended September 30, 2013.
    </p>
    <p>
      <b>Management Commentary</b>
    </p>
    <p>
      &#8220;This was another strong quarter for Anika, driven by continued product
      revenue growth in our Orthobiologics franchise,&#8221; said Charles H.
      Sherwood, Ph.D., President and Chief Executive Officer. &#8220;Net income and
      earnings per share rose to third-quarter record high levels, reflecting
      strong demand for our viscosupplementation products as well as our
      ongoing initiatives to improve performance across the business. These
      results measure against a weak set of financial comparatives in the
      third quarter of 2012, which reflected the temporary decline in product
      shipments that we experienced in that year-earlier period.&#8221;
    </p>
    <p>
      &#8220;Our growth in Orthobiologics continues to reflect solid demand for our
      flagship product, Orthovisc<sup>&#174;</sup>, in both domestic and
      international markets,&#8221; said Sherwood. &#8220;Our U.S. distribution partner,
      DePuy Mitek, is continuing to make strategic investments in patient and
      physician education and distribution channel support to expand the
      Orthovisc franchise and drive sales in high-potential areas of the
      viscosupplementation market. Paralleling these initiatives, our internal
      commercial and business development team was active this quarter in
      efforts to strengthen and expand our international Orthobiologics
      distribution network.&#8221;
    </p>
    <p>
      &#8220;This was also an active quarter for Anika on the product development
      front,&#8221; Sherwood said. &#8220;We continued to enroll patients in our
      multinational Phase III clinical study in support of our CE Mark
      application for Cingal. Our third-generation viscosupplementation
      product, Cingal, is a single-injection osteoarthritis treatment that
      includes a therapeutic anti-inflammatory agent. In connection with the
      International Cartilage Repair Society annual congress in Turkey, we
      hosted a well-received symposium on our Hyalofast&#8482; product as well as a
      regenerative product development advisory panel meeting with world
      renowned physicians in the orthopedic field.&#8221;
    </p>
    <p>
      &#8220;Given the positive demand outlook for our Orthobiologics products and
      the improved efficiencies in our business, we believe that Anika is
      well-positioned for continued growth and profitability improvement in
      the quarters ahead,&#8221; concluded Sherwood.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Revenue</b>
    </p>
    <p>
      Total revenue for the third quarter of 2013 was $17.8 million, compared
      with $14.8 million a year earlier. Anika&#8217;s revenue continues to be
      largely driven by increased domestic and international
      viscosupplementation product sales. The favorable comparison with the
      third quarter of 2012 also reflected lower product sales in that period.
      This was the result of a temporary scale-up issue at Anika&#8217;s Bedford
      manufacturing facility during that quarter, which resulted in uneven
      revenue patterns for the last two quarters of 2012.
    </p>
    <p>
      <b>Product Gross Margin</b>
    </p>
    <p>
      Product gross margin for the third quarter of 2013 improved to 68%, from
      49% in the third quarter last year. This improvement reflected the
      company&#8217;s ongoing initiatives to realize the planned operational
      efficiencies, as well as more favorable product mix and the elimination
      of the company&#8217;s unprofitable tissue engineering operations since the
      beginning of 2013. The improvement also reflected the higher cost of
      product revenue reported for the year-earlier quarter due to new
      manufacturing facility scale-up activities.
    </p>
    <p>
      <b>Operating Expenses</b>
    </p>
    <p>
      Research and development expenses for the third quarter of 2013 rose 33%
      from the third quarter a year earlier. The increase reflected expenses
      for the company&#8217;s Cingal clinical trial and other planned product
      pipeline initiatives. Selling, general and administrative expenses
      decreased 11% from the third quarter of 2012, primarily as a result of
      the company&#8217;s ongoing cost reduction initiatives, and certain
      non-recurring legal expenses last year.
    </p>
    <p>
      <b>Operating and Net Income</b>
    </p>
    <p>
      Operating income for the third quarter of 2013 was $7.8 million,
      compared with $2.7 million in the same period in 2012. Net income was
      $5.0 million, or $0.33 per diluted share, compared with $1.6 million, or
      $0.11 per diluted share, in the third quarter last year. Operating
      income, net income and earnings per share were higher, year-over-year,
      primarily due to the improvement in product gross profit.
    </p>
    <p>
      <b>Cash and Cash Equivalents</b>
    </p>
    <p>
      Anika&#8217;s cash and cash equivalents at September 30, 2013 increased to
      $64.1 million, from $44.1 million at December 31, 2012, driven primarily
      by higher income from operations, increased cash collections on accounts
      receivable and option exercises during the year.
    </p>
    <p>
      <b>Conference Call Information</b>
    </p>
    <p>
      Anika will hold a conference call to discuss its financial results,
      business highlights and outlook tomorrow, Thursday, October 31, 2013 at
      9:00 a.m. ET. In addition, the company will answer questions concerning
      business and financial developments and trends, regulatory activity
      related to Monovisc, and other business and financial matters affecting
      the company, some of the responses to which may contain information that
      has not been previously disclosed.
    </p>
    <p>
      To listen to the conference call, dial 877-280-4962 (international
      callers dial 857-244-7319) and use the passcode 26253796. Please call
      approximately 10 minutes before the starting time and reference Anika
      Therapeutics. In addition, the conference call will be available through
      a live audio webcast in the &#8220;Investor Relations&#8221; section of the Anika
      Therapeutics website, <u>www.anikatherapeutics.com</u>. An accompanying
      slide presentation also can be accessed via the Anika Therapeutics
      website. The conference call will be archived and accessible on the same
      website shortly after the conclusion of the call.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>About Anika Therapeutics, Inc.</b>
    </p>
    <p>
      Headquartered in Bedford, Mass., Anika Therapeutics, Inc.<u><b> </b></u>develops,
      manufactures and commercializes therapeutic products for tissue
      protection, healing, and repair. These products are based on hyaluronic
      acid (HA), a naturally occurring, biocompatible polymer found throughout
      the body. Anika&#8217;s products range from orthopedic/joint health solutions
      led by Orthovisc<sup>&#174;</sup>, a treatment for osteoarthritis of the
      knee; to surgical aids in the anti-adhesion and ophthalmic fields. The
      company also offers<u><b> </b></u>aesthetic dermal fillers for the
      correction of facial wrinkles. Anika&#8217;s Italian subsidiary, Anika S.r.l.,
      provides complementary HA products in orthopedic/joint health and
      anti-adhesion, as well as therapeutics in areas such as advanced wound
      treatment and ear, nose and throat care. Its regenerative technology
      advances Anika&#8217;s vision to offer therapeutic products and medical
      solutions that go beyond pain relief to protect and restore damaged
      tissue.
    </p>
    <p>
      <i>The statements made in this press release which are not statements of
      historical fact are forward-looking statements within the meaning of
      Section 27A of the Securities Act of 1933, as amended, and Section 21E
      of the Securities Exchange Act of 1934, as amended. These statements
      include, but are not limited to, those relating to (i) our ongoing
      initiatives to improve performance across the business, (ii) our efforts
      and ability to strengthen and expand our international Orthobiologics
      distribution network, (iii) the company&#8217;s plans to continue to drive
      efficiencies in operations and manufacturing, (iv) the prospects for the
      company&#8217;s product pipeline, including regenerative product development,
      (v) bringing Cingal to market, and (vi) expectations for future growth
      and profitability improvement in the quarters ahead.</i> <i>These
      statements are based upon the current beliefs and expectations of the
      company's management and are subject to significant risks, uncertainties
      and other factors.</i> <i>The company's actual results could differ
      materially from any anticipated future results, performance or
      achievements described in the forward-looking statements as a result of
      a number of factors including (i) the company's ability to successfully
      commence and/or complete clinical trials of its products on a timely
      basis or at all, obtain pre-clinical or clinical data to support
      domestic and international pre-market approval applications or 510(k)
      application, or timely file and receive FDA or other regulatory
      approvals or clearances of its products, or 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;
      (ii) the company's research and product development efforts and their
      relative success, including whether the company has any meaningful sales
      of any new products resulting from such efforts; (iii) the cost
      effectiveness and efficiency of our clinical studies, manufacturing
      operations and production planning; (iv) 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; (v) future
      determinations by the company to allocate resources to products and in
      directions not presently contemplated, (vi) the company&#8217;s ability to
      launch Monovisc in the U.S., if at all; (vii) the company&#8217;s ability to
      provide an adequate and timely supply of its ophthalmic, Orthovisc and
      other products to its customers, (viii) our ability to successfully
      manage and turnaround Anika S.r.l.&#8217;s business, and (ix) the company&#8217;s
      ability to achieve its stated growth targets.</i> <i>Certain other
      factors that might cause the company's actual results to differ
      materially from those in the forward-looking statements include those
      set forth under the headings &quot;Business,&quot; &quot;Risk Factors&quot; and
      &quot;Management's Discussion and Analysis of Financial Condition and Results
      of Operations&quot; in the company's Annual Report on Form 10-K for the year
      ended December 31, 2012, as well as those described in the company's
      other press releases and SEC filings.</i>
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          Condensed Consolidated Statements of Operations
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top">
          <b>Three Months Ended September 30,</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="7" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="top">
          <b>Nine Months Ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2013</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2012</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2013</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2012</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Product revenue
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          17,023,346
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,055,440
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          51,585,242
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          46,551,045
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Licensing, milestone and contract revenue
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          731,092
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          711,171
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,244,584
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,200,995
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Total revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          17,754,438
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,766,611
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          53,829,826
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          48,752,040
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Operating expenses:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Cost of product revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          5,377,568
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          7,221,028
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          16,530,070
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          21,718,735
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Research &amp; development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,618,012
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,217,086
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          5,029,974
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4,048,359
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Selling, general &amp; administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3,188,669
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3,601,737
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          10,536,462
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          11,061,256
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Restructuring charges
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (196,084
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (442,869
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Total operating expenses
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          9,988,165
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          12,039,851
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          31,653,637
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          36,828,350
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          7,766,273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,726,760
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          22,176,189
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          11,923,690
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Interest income (expense), net
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (32,816
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (45,161
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (108,755
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (145,493
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          7,733,457
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,681,599
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          22,067,434
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          11,778,197
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,776,199
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,036,349
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          8,147,282
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4,483,960
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4,957,258
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,645,250
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          13,920,152
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          7,294,237
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Basic net income per share:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.36
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1.03
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.55
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Basic weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          13,682,449
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          13,287,463
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          13,534,334
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          13,237,629
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Diluted net income per share:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.33
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.11
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.95
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            $
          </p>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          0.51
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 20.0px; text-align: left" valign="top">
          Diluted weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,958,965
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,459,154
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,673,879
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,357,791
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          Condensed Consolidated Balance Sheets
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>September 30,</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>December 31,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2013</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2012</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>ASSETS</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Current assets:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          64,055,438
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          44,067,477
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Accounts receivable, net of reserves of $369,989 and $337,459 at
          September 30, 2013 and December 31, 2012, respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          16,496,917
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          21,462,481
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          11,582,492
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          8,283,472
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Current portion deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,989,422
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,031,583
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Prepaid expenses and other
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          878,472
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,539,477
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          95,002,741
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          77,384,490
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Property and equipment, at cost
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          52,067,759
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          52,376,013
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Less: accumulated depreciation
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (18,805,895
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (17,263,032
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          33,261,864
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          35,112,981
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Long-term deposits and other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          145,563
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          171,053
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Intangible assets, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          19,197,226
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          20,334,636
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Goodwill
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          9,275,130
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          9,065,891
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total Assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          156,882,524
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          142,069,051
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Current liabilities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,136,679
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,341,838
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Accrued expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          5,228,399
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          5,837,044
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Deferred revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          850,067
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,875,067
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Current portion of long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,600,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,600,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Income taxes payable
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          542,302
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,798,669
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          10,357,447
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,452,618
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,172,099
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,541,124
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Long-term deferred revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,027,778
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,152,778
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Deferred tax liability
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          8,319,038
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          6,997,397
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          6,800,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          8,000,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Commitments and contingencies
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Stockholders&#8217; equity:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Preferred stock, $.01 par value; 1,250,000 shares authorized, no
            shares issued and outstanding at September 30, 2013 and December
            31, 2012, respectively
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Common stock, $.01 par value; 30,000,000 shares authorized,
            14,266,098 and 13,866,060 shares issued and outstanding at
            September 30, 2013 and December 31, 2012, respectively
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          142,661
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          138,659
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Additional paid-in-capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          70,281,179
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          65,431,424
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Accumulated currency translation adjustment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (2,147,511
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          (2,654,630
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          59,929,833
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          46,009,681
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          128,206,162
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          108,925,134
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total Liabilities and Stockholders&#8217; Equity
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          156,882,524
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          142,069,051
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td colspan="14" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Anika Therapeutics, Inc. and Subsidiaries</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="14" style="padding-left: 0.0px; text-align: center" valign="top">
          Supplemental Financial Data
        </td>
      </tr>
      <tr>
        <td colspan="14" style="padding-left: 0.0px; text-align: center" valign="top">
          Revenue by Product Line and Product Gross Margin
        </td>
      </tr>
      <tr>
        <td colspan="14" style="padding-left: 0.0px; text-align: center" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="10" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <b>Three Months Ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2013</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-bottom: 2.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="3" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2012</b>
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>% Change</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Orthobiologics
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          12,830,566
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          9,242,783
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          39%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Dermal
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          267,766
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          376,251
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          (29%)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Surgical
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,136,248
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,426,273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          (20%)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Ophthalmic
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,425,609
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,891,433
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          (25%)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Veterinary
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,363,157
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,118,700
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-bottom: 2.0px; padding-right: 0.0px" valign="bottom">
          22%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total Product Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          17,023,346
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,055,440
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-bottom: 4.0px; padding-right: 0.0px" valign="bottom">
          21%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Product gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          11,645,778
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          6,834,412
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Product gross margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          68
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          49
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="10" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <b>Nine Months Ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <b>2013</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-bottom: 2.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td colspan="3" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2012</b>
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>% Change</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Orthobiologics
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          40,620,339
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          30,262,991
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          34%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Dermal
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,066,409
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,033,302
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          3%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Surgical
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3,955,134
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3,874,405
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          2%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Ophthalmic
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,818,407
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          8,515,160
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          (67%)
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Veterinary
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3,124,953
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          2,865,187
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-bottom: 2.0px; padding-right: 0.0px" valign="bottom">
          9%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total Product Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          51,585,242
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          46,551,045
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-bottom: 4.0px; padding-right: 0.0px" valign="bottom">
          11%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Product gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          35,055,172
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          24,832,310
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Product gross margin
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          68
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          53
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="12" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="12" style="padding-left: 0.0px; text-align: center" valign="top">
          Supplemental Financial Data
        </td>
      </tr>
      <tr>
        <td colspan="12" style="padding-left: 0.0px; text-align: center" valign="top">
          Total Revenue by Geographic Region
        </td>
      </tr>
      <tr>
        <td colspan="12" style="padding-left: 0.0px; text-align: center" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <b>Three Months Ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>% Change</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          United States
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,485,821
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          12,628,612
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          15%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,656,656
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1,064,165
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          56%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          1,611,961
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1,073,834
          </p>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-bottom: 2.0px; padding-right: 0.0px" valign="bottom">
          50%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          17,754,438
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          14,766,611
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-bottom: 4.0px; padding-right: 0.0px" valign="bottom">
          20%
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <b>Nine Months Ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2013</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <b>% Change</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          United States
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            42,251,336
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          40,463,657
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            4%
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            5,226,619
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          3,993,708
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            31%
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            6,351,871
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          4,294,675
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-bottom: 2.0px; padding-right: 0.0px" valign="bottom">
          48%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          53,829,826
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: left; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; text-align: right; padding-right: 0.0px" valign="bottom">
          48,752,040
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-bottom: 4.0px; padding-right: 0.0px" valign="bottom">
          10%
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Anika Therapeutics, Inc.<br>Charles H. Sherwood, Ph.D.,
      781-457-9000<br>President and CEO<br>or<br>Sylvia Cheung, 781-457-9000<br>CFO
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
