<SEC-DOCUMENT>0001157523-16-004724.txt : 20160224
<SEC-HEADER>0001157523-16-004724.hdr.sgml : 20160224
<ACCEPTANCE-DATETIME>20160224160608
ACCESSION NUMBER:		0001157523-16-004724
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160224
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160224
DATE AS OF CHANGE:		20160224

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:		161451980

	BUSINESS ADDRESS:	
		STREET 1:		32 WIGGINS AVENUE
		CITY:			BEDFORD
		STATE:			MA
		ZIP:			01730
		BUSINESS PHONE:		(781) 457-9000

	MAIL ADDRESS:	
		STREET 1:		32 WIGGINS AVENUE
		CITY:			BEDFORD
		STATE:			MA
		ZIP:			01730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANIKA THERAPEUTICS INC
		DATE OF NAME CHANGE:	19970114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANIKA RESEARCH INC
		DATE OF NAME CHANGE:	19930309
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51286866.htm
<DESCRIPTION>ANIKA THERAPEUTICS, INC. 8-K
<TEXT>
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      <font style="font-family: Times New Roman; font-size: 16pt">UNITED STATES</font><font style="font-family: Times New Roman; font-size: 16pt"><br style="font-size: 16pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 16pt">SECURITIES
      AND EXCHANGE COMMISSION</font><br><font style="font-size: 11pt">Washington,
      D.C. 20549</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: 16pt">FORM
      8-K</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">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): February 24, 2016</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: 16pt">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>
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          &#160;
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          <p style="margin-top: 0px; margin-bottom: 0px">
            Massachusetts
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        <td style="padding-left: 0.0px; width: 34%; text-align: center; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            000-21326
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          <p style="margin-top: 0px; margin-bottom: 0px">
            04-314-5961
          </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(State or other jurisdiction of</i><br><i>incorporation or
            organization)</i>
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        <td style="padding-left: 0.0px; width: 34%; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Commission File Number</i>
          </p>
        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(I.R.S. Employer<br>Identification No.)</i>
          </p>
        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            32 Wiggins Avenue, Bedford, MA 01730
          </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(Address of principal executive offices) (Zip code)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center; white-space: nowrap">
      <br>
      <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><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: 40%; text-align: center; color: #000000; height: 1.0 pt">


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

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    <p>

    </p>
    <p style="text-align: center">
      <b>Section 2--Financial Information</b>
    </p>
    <p>

    </p>
    <p>
      Item 2.02.&#160;&#160;Results of Operations and Financial Condition.
    </p>
    <p>

    </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 February 24, 2016, Anika Therapeutics, Inc. issued a press release
      announcing its financial results for the fourth quarter and year ended
      December 31, 2015.&#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>

    </p>
    <p>
      Item 9.01.&#160;&#160;Financial Statements and Exhibits.
    </p>
    <p>

    </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;Press Release of Anika Therapeutics, Inc. dated February
      24, 2016.
    </p>
    <p style="white-space: nowrap; margin-left: 60.0px">

    </p>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">SIGNATURE</font><br>
    </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>
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            Anika Therapeutics, Inc.
          </p>
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            &#160;
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            Dated: February 24, 2016
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; width: 3%; text-align: left" valign="top">
          By:
        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Sylvia Cheung
          </p>
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            &#160;
          </p>
        </td>
        <td style="padding-left: 25.0px; width: 37%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Sylvia Cheung
          </p>
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        <td style="width: 10%">

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            &#160;
          </p>
        </td>
        <td style="padding-left: 25.0px; width: 37%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
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        <td style="width: 10%">

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    </p>
    <p style="text-align: center">
      Exhibit Index<br><br>
    </p>
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          99.1
        </td>
        <td style="padding-left: 0.0px; width: 2%; text-align: left" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; width: 88%; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release of Anika Therapeutics, Inc. dated February 24, 2016.
          </p>
        </td>
      </tr>
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    <p>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51286866ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Anika
      Therapeutics Delivers Strong Performance with Record Product Revenue for
      the Fourth Quarter and Full Year 2015</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Product
      Revenue Increased 43% Year-over-Year for Fourth Quarter of 2015</b></font></i>
    </p>
    <p>
      BEDFORD, Mass.--(BUSINESS WIRE)--February 24, 2016--Anika Therapeutics,
      Inc. (NASDAQ: ANIK), a global, integrated orthopedic medicines company
      specializing in therapeutics based on its proprietary hyaluronic acid
      (&#8220;HA&#8221;) technology, today reported financial results for the fourth
      quarter and full year ended December 31, 2015, along with business
      progress in the periods.
    </p>
    <p>
      &#8220;We ended 2015 and entered 2016 with strong momentum in all aspects of
      our business -- commercial, clinical, operational, and financial,&#8221; said
      Charles H. Sherwood, Ph.D., President and Chief Executive Officer.
      &#8220;First, product revenue increased 43% year-over-year for the fourth
      quarter, and our viscosupplementation franchise delivered robust
      performance and remained on track for market leadership in 2017. Second,
      we continued to advance our late-stage HA-based pipeline candidates,
      CINGAL and HYALOFAST, through the clinical development and regulatory
      channels. Third, as part of our strategic shift towards direct
      commercialization, we are consolidating our global manufacturing
      operations at our U.S. headquarters. Finally, we renewed our interest in
      strategic M&amp;A opportunities that could augment our thriving organic
      business, and create value for shareholders over the short and long
      terms.&#8221;
    </p>
    <p>
      <b>Fourth Quarter and Full Year Financial Results</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Product revenue grew 43% year-over-year for the fourth quarter of
        2015, and 16% for the full year of 2015. The Company saw normal
        inventory purchase growth patterns resume in the fourth quarter after
        the conclusion of an inventory rebalancing by its U.S. commercial
        partner.
      </li>
      <li style="margin-bottom: 10.0px">
        Total revenue for the fourth quarter of 2015 increased 33% to $30.9
        million, compared to $23.3 million for the fourth quarter of 2014. The
        increase was primarily driven by the continued growth in Anika&#8217;s
        viscosupplementation franchise worldwide. Total revenue for the full
        year of 2015 was $93.0 million, compared to $105.6 million for the
        full year of 2014. The decline was due to the receipt of $30 million
        of licensing, milestone and contract revenue related to MONOVISC
        product approval, launch, and achievement of a unique CMS
        reimbursement code in 2014, which was partially offset by $5 million
        of milestone revenue received in 2015 for the achievement of a target
        MONOVISC U.S. end user sales threshold.
      </li>
      <li style="margin-bottom: 10.0px">
        ORTHOVISC maintained its position as the leading multiple-injection
        product. MONOVISC continued to hold the number two position in the
        single-injection segment. Overall, there was a 24% increase in the
        combined U.S. viscosupplementation end-user revenue in 2015, with
        MONOVISC end-user sales more than tripling year-over-year domestically.
      </li>
      <li style="margin-bottom: 10.0px">
        The Company received a $5.0 million milestone payment in the fourth
        quarter of 2015 from its U.S. commercial partner as a result of
        MONOVISC achieving $50 million in end-user revenue in 2015.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income for the fourth quarter of 2015 increased 41% to $11.0
        million, or $0.72 per diluted share, compared to $7.8 million, or
        $0.51 per diluted share, for the fourth quarter of 2014. Net income
        for the full year of 2015 was $30.8 million, or $2.01 per diluted
        share, compared to $38.3 million, or $2.51 per diluted share.
        Full-year 2014 results reflected the favorable impact of the $30
        million of licensing, milestone and contract revenue previously
        discussed.
      </li>
    </ul>
    <div style="width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

        </div>
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          <hr style="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p>
      <b>Recent Business Highlights</b>
    </p>
    <p>
      The Company made key pipeline, commercial, operational, and financial
      advancements, including:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        The commencement of patient enrollment in the Company&#8217;s HYALOFAST
        FastTRACK study. HYALOFAST, a biodegradable scaffold, is used to
        enable cartilage regeneration in patients suffering from cartilage
        defects. The FastTRACK study is a prospective, randomized, active
        treatment-controlled, multicenter study to establish the superiority
        of a hyaluronan-based scaffold (HYALOFAST) with autologous bone marrow
        aspirate concentrate (BMAC) in the treatment of articular knee
        cartilage defect lesions.&#160;It will enroll approximately 200 patients at
        up to 30 sites in the&#160;U.S.&#160;and&#160;Europe. HYALOFAST is CE Marked in
        Europe and is available commercially in 18 countries with more than
        6,000 uses to date. European clinical data demonstrates that patients
        treated with HYALOFAST plus autologous BMAC in a one-step, minimally
        invasive arthroscopic procedure were able to successfully regenerate
        hyaline-like cartilage. We believe HYALOFAST is poised to take a
        market leadership position.
      </li>
      <li style="margin-bottom: 10.0px">
        The decision to pursue CINGAL approval in the U.S. through the New
        Drug Application pathway, and the approval of CINGAL by Health Canada
        for the treatment of pain associated with osteoarthritis of the knee.
      </li>
      <li style="margin-bottom: 10.0px">
        An agreement with a new commercial partner in China for the
        commercialization of both MONOVISC and CINGAL.
      </li>
      <li style="margin-bottom: 10.0px">
        Ongoing progress with full integration of the Company&#8217;s global
        manufacturing operations under one roof in Anika&#8217;s Bedford, Mass.
        global headquarters. This integration is intended to accelerate
        product development and to enable full control of the Company&#8217;s supply
        chain.
      </li>
    </ul>
    <p>
      <b>Full Year 2016 Corporate Outlook</b>
    </p>
    <p>
      Looking forward to 2016, the Company expects total revenue growth to be
      in the mid-teen percentage range. The Company also anticipates continued
      headway on several key initiatives including:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Resolution of open items for the submission of CINGAL New Drug
        Application.
      </li>
      <li style="margin-bottom: 10.0px">
        Approval of CINGAL in the E.U. and launch of CINGAL in Canada and
        Europe.
      </li>
      <li style="margin-bottom: 10.0px">
        Advancement toward full patient enrollment in the Company&#8217;s HYALOFAST
        FastTRACK study.
      </li>
      <li style="margin-bottom: 10.0px">
        Integration of global manufacturing operations in Anika&#8217;s Bedford,
        Mass. global headquarters.
      </li>
      <li style="margin-bottom: 10.0px">
        Initial occupation of the Company&#8217;s new Padua, Italy office, which
        will serve as its new European hub.
      </li>
      <li style="margin-bottom: 10.0px">
        Progress in the development of a direct commercialization capability
        in the U.S.
      </li>
    </ul>
    <p>
      <b>Conference Call Information</b>
    </p>
    <p>
      Anika management will hold a conference call and webcast to discuss its
      financial results, business highlights and financial outlook tomorrow,
      Thursday, February 25<sup>th</sup> at 9:00 am ET. The conference call
      can be accessed by dialing 1-855-468-0611 (toll-free domestic) or
      1-484-756-4332 (international). A live audio webcast will be available
      in the &quot;Investor Relations&quot; section of Anika&#8217;s website, <u>www.anikatherapeutics.com</u>.
      An accompanying slide presentation may also be accessed via the Anika
      website. A replay of the webcast will be available on Anika&#8217;s website
      approximately two hours after the completion of the event.
    </p>
    <div style="width: 100%; margin-bottom: 10pt; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p>
      <b>About Anika Therapeutics, Inc.</b>
    </p>
    <p>
      Anika Therapeutics, Inc. (NASDAQ: ANIK) is a global, integrated
      orthopedic medicines company based in Bedford, Mass. Anika is committed
      to improving the lives of patients with degenerative orthopedic diseases
      and traumatic conditions by providing clinically meaningful therapeutic
      pain management solutions along the continuum of care, from palliative
      care to regenerative medicine. The Company has over two decades of
      expertise developing, manufacturing and commercializing more than 20
      products, in markets across the globe, based on its proprietary
      hyaluronic acid (HA) technology. Anika&#8217;s orthopedic medicine portfolio
      is comprised of marketed (ORTHOVISC&#174; and MONOVISC&#174;) and pipeline
      (CINGAL&#174; and HYALOFAST&#174; in the U.S.) products to alleviate pain and
      restore joint function by replenishing depleted HA and aiding cartilage
      repair and regeneration. For more information about Anika, please visit <u>http://www.anikatherapeutics.com</u>.
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      <i>The statements made in the second paragraph, the first and fourth
      bullet points in the section captioned &#8220;Recent Business Highlights,&#8221; and
      the section captioned &#8220;Full Year 2016 Corporate Outlook&#8221; of 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 the Company&#8217;s direct commercialization
      capabilities, the Company&#8217;s interest in strategic M&amp;A transactions,
      enrollment rates in the HYALOFAST clinical study, the commercial
      potential of HYALOFAST, the integration of the Company&#8217;s manufacturing
      operations, the approval of CINGAL in the European Union, and the
      Company&#8217;s expected revenue growth. These statements are based upon the
      current beliefs and expectations of the Company&#8217;s management and are
      subject to significant risks, uncertainties, and other factors. The
      Company&#8217;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&#8217;s ability to successfully commence and/or complete
      clinical trials of its products, including for HYALOFAST, on a timely
      basis or at all; (ii) the Company&#8217;s ability to obtain pre-clinical or
      clinical data to support domestic and international pre-market approval
      applications, 510(k) applications, or new drug applications, or to
      timely file and receive FDA or other regulatory approvals or clearances
      of its products, including for CINGAL; (iii) 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;
      (iv) the Company&#8217;s research and product development efforts and their
      relative success, including whether we have any meaningful sales of any
      new products resulting from such efforts; (v) the cost effectiveness and
      efficiency of the Company&#8217;s clinical studies, manufacturing operations,
      and production planning; (vi) the strength of the economies in which the
      Company operate or will be operating, as well as the political stability
      of any of those geographic areas; (vii) future determinations by the
      Company to allocate resources to products and in directions not
      presently contemplated; (viii) the Company&#8217;s ability to successfully
      commercialize its products, in the U.S. and abroad; (ix) the Company&#8217;s
      ability to provide an adequate and timely supply of its products to its
      customers; and (x) the Company&#8217;s ability to achieve its growth targets.
      Additional factors and risks are described in the Company&#8217;s periodic
      reports filed with the Securities and Exchange Commission, and they are
      available on the SEC&#8217;s website at <u>www.sec.gov</u>.
      Forward-looking statements are made based on information available to
      the Company on the date of this press release, and the Company assumes
      no obligation to update the information contained in this press release.</i>
    </p>
    <div style="width: 100%; margin-bottom: 10pt; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Condensed Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>(in thousands, except per share data)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

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

        </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>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="5" valign="top">
          <b>Three Months Ended December 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="5" valign="top">
          <b>Year Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2014</b>
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            25,607
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          17,880
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          87,696
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          75,474
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Licensing, milestone and contract revenue
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            5,287
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            5,375
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          5,303
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          30,121
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Total revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          30,894
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            23,255
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          92,999
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          105,595
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Cost of product revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,290
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            5,511
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          21,053
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          20,930
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Research &amp; development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          3,016
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1,984
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,987
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,144
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" valign="top">
          Selling, general &amp; administrative
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            4,524
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            3,673
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          14,825
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          15,074
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Total operating expenses
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            13,830
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            11,168
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          44,865
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          44,148
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            17,064
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          12,087
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          48,134
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          61,447
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" valign="top">
          Interest income, net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          39
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          42
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          120
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          58
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            17,103
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          12,129
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          48,254
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          61,505
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" valign="top">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          6,061
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          4,313
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          17,496
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          23,186
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            11,042
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          7,816
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          30,758
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          38,319
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          0.74
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          0.53
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2.06
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2.61
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,965
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,801
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,934
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,678
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Diluted net income per share:
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          0.72
        </td>
        <td>

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

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2.01
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2.51
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Diluted weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,353
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,278
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,321
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,269
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <b>Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          <b>(in thousands, except share data)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="9" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; white-space: nowrap; padding-right: 0.0px" colspan="3" valign="top">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; white-space: nowrap; padding-right: 0.0px" colspan="3" valign="top">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: center" valign="top">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2014</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </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: 20.0px; text-align: left" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          110,707
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100,156
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          27,751
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,750
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Accounts receivable, net of reserves of $167 and $147 at December
          31, 2015 and 2014, respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          21,652
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          17,152
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,938
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          12,407
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" valign="top">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          1,385
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          1,371
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          176,433
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          137,836
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          64,648
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          53,620
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          (24,540
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          (21,951
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          40,108
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          31,669
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          69
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          69
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          11,656
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,895
        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          7,482
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          8,339
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Total Assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          235,748
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          192,808
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#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">
          <b>LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</b>
        </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: 20.0px; text-align: left" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,302
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,201
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Accrued expenses and other current liabilities
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          4,778
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          4,772
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" valign="top">
          Income taxes payable
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          4,198
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 40.0px; text-align: left" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          17,278
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          5,973
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          781
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          894
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          66
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          102
        </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; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,775
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          7,741
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Commitments and contingencies
        </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">
          Stockholders&#8217; equity:
        </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">
          Preferred stock, $.01 par value; 1,250,000 shares authorized, no
          shares issued and outstanding at December 31, 2015 and December 31,
          2014
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Common stock, $.01 par value; 30,000,000 shares authorized,
          15,036,808 and 14,851,703 shares issued and outstanding at December
          31, 2015 and 2014, respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          150
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          149
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Additional paid-in-capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          81,685
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          77,540
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          (6,649
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          (4,495
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          135,662
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          104,904
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 40.0px; text-align: left" valign="top">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          210,848
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          178,098
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Total Liabilities and Stockholders&#8217; Equity
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          235,748
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          192,808
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; margin-bottom: 10pt; text-indent: 0pt; 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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="29">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="29" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="29" valign="top">
          <b>Supplemental Financial Data</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="29" valign="top">
          <b>Revenue by Product Line and Product Gross Margin</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="29" valign="top">
          <b>(in thousands, except percentages)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="29" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="13" valign="top">
          <b>Quarter Ended December 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="13" valign="top">
          <b>Year Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2014</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2014</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Orthobiologics
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          21,530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          84
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          13,207
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          74
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          73,247
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          84
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          61,957
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          82
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Surgical
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,363
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,812
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,855
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Dermal
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,134
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          395
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,266
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,334
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            1,580
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          6
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          3,005
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          17
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          6,371
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          7
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          6,328
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          8
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 10.0px; text-align: left" valign="top">
          Total Product Revenue
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            25,607
          </p>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          17,880
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          87,696
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          75,474
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </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">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Product Gross Profit
          </p>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            19,317
          </p>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            12,369
          </p>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          66,643
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          54,544
        </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-top: 0px; margin-bottom: 0px">
            Product Gross Margin
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            75
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          69
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          76
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          72
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="29" valign="top">
          <b>Total Product Revenue by Geographic Region</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="29" valign="top">
          <b>(in thousands, except percentages)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="29" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="13" valign="top">
          <b>Quarter Ended December 31,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black" colspan="13" valign="top">
          <b>Year Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2014</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <b>2014</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Geographic Location:</b>
          </p>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          20,574
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          80
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,324
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          80
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          71,621
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          82
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          62,606
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          83
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,462
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          936
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,756
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,204
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8
        </td>
        <td style="padding-left: 0.0px; text-align: left; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 10.0px; text-align: left" valign="top">
          Other
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            2,571
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          10
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          2,620
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          15
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          7,319
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          8
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          6,664
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          9
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 10.0px; text-align: left" valign="top">
          Total Revenue
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            25,607
          </p>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          17,880
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          87,696
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          75,474
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; white-space: nowrap; border-bottom-color: black; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
    <p>

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