<SEC-DOCUMENT>0001157523-18-000386.txt : 20180221
<SEC-HEADER>0001157523-18-000386.hdr.sgml : 20180221
<ACCEPTANCE-DATETIME>20180221173032
ACCESSION NUMBER:		0001157523-18-000386
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180221
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180221
DATE AS OF CHANGE:		20180221

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:		18629658

	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>a51762181.htm
<DESCRIPTION>ANIKA THERAPEUTICS, INC. 8-K
<TEXT>
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      <font style="font-size: 16pt; font-family: Times New Roman">UNITED STATES</font><font style="font-size: 16pt; font-family: Times New Roman"><br style="font-size: 16pt; font-family: Times New Roman"></font><font style="font-size: 16pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font><br><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-size: 16pt; font-family: Times New Roman">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-size: 11pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported): February 21, 2018</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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          <p style="margin-top: 0px; margin-bottom: 0px">
            Massachusetts
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          <p style="margin-top: 0px; margin-bottom: 0px">
            000-21326
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          <p style="margin-top: 0px; margin-bottom: 0px">
            04-3145961
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            <i>(State or other jurisdiction of</i><br><i>incorporation or
            organization)</i>
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        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Commission file number</i>
          </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(I.R.S. Employer<br>Identification No.)</i>
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    <p>

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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>
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    </table>
    </div>
    <p style="text-align: center; white-space: nowrap">
      <br>
      (<font style="font-size: 10pt; font-family: Times New Roman">781)-457-9000</font><br><i><font style="font-size: 10pt; font-family: Times New Roman">Registrant&#8217;s
      telephone number, including area code:&#160;&#160;&#160;</font></i><br><br>
    </p>
    <p style="text-align: center">
      Not Applicable<br><i><font style="font-size: 10pt; font-family: Times New Roman">(Former
      name or former address, if changed since last report)</font></i><br>
    </p>
    <hr style="width: 15%; text-align: center; color: #000000; height: 1.0 pt">


    <p>

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">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><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <p>
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
      &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
      &#167;240.12b-2).<br>Emerging growth company&#160;&#160;&#160;<font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;&#160;<font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
    </p>
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    <p style="white-space: nowrap">
      <b>Item 2.02.&#160;&#160;Results of Operations and Financial Condition.</b>
    </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 21, 2018, Anika Therapeutics, Inc. issued a press release
      announcing its financial results for the fourth quarter and twelve
      months ended December 31, 2018.&#160;&#160;The full text of the press release is
      furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01.&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="white-space: nowrap">
      (d)&#160;&#160;Exhibits.
    </p>
    <p style="white-space: nowrap">
      99.1&#160;&#160;Press Release of Anika Therapeutics, Inc. dated February 21, 2018.<br><br><br><br><br><br>
    </p>
    <p style="text-align: center">
      [Remainder of page left blank intentionally]<br><br>
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    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">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.
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            &#160;
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            Dated: February 21, 2018
          </p>
        </td>
        <td style="width: 3%; text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          By:
        </td>
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            /s/ Sylvia Cheung
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            &#160;
          </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            Sylvia Cheung
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            &#160;
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          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
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    <p>

    </p>
    <p style="text-align: center">
      Exhibit Index<br><br>
    </p>
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            <a href="a51762181ex99_1.htm">99.1</a>
          </p>
        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51762181ex99_1.htm">Press Release of Anika Therapeutics,
            Inc. dated February 21, 2018.</a>
          </p>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51762181ex99_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-size: 12pt; font-family: Times New Roman"><b>Anika
      Reports Fourth Quarter and Full Year 2017 Financial Results</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>MONOVISC
      Global Revenue Increased 21% Year-over-Year for Fourth Quarter of 2017;</b></font></i><b><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 12pt"></font><i><font style="font-size: 12pt; font-family: Times New Roman">Total
      Revenue Increased 10% for Full Year of 2017</font></i></b>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      BEDFORD, Mass.--(BUSINESS WIRE)--February 21, 2018--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, 2017, along with business
      progress in the periods.
    </p>
    <p>
      &#8220;2017 was a year of significant achievement for Anika, highlighted by
      double-digit revenue growth, expansion of MONOVISC&#174; and CINGAL&#174; into new
      international markets, completion of the CINGAL Phase III trial
      enrollment ahead of schedule, and the strengthening of our executive
      team,&#8221; said Charles H. Sherwood, Ph.D., Chief Executive Officer. &#8220;As we
      look to 2018, we are poised to complete the CINGAL Phase III trial and
      submit a New Drug Application to the FDA. Our strategic objectives are
      focused on global commercial expansion, pipeline advancement, and the
      development of a direct commercialization capability in the U.S. to
      accelerate our revenue and earnings growth in the years ahead and to
      create sustained value for our shareholders.&#8221;
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>Fourth Quarter and Full Year Financial Results</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Total revenue for the fourth quarter of 2017 was $29.4 million,
        compared to $28.7 million for the fourth quarter of 2016. Total
        revenue for the full year of 2017 grew 10% to $113.4 million, compared
        to $103.4 million for the full year of 2016. Total revenue for the
        full year of 2017 included $5.0 million in milestone revenue earned in
        the second quarter as a result of MONOVISC achieving $100 million in
        U.S. end-user sales within a consecutive 12-month period ending in
        June 2017.
      </li>
      <li style="margin-bottom: 10.0px">
        Product revenue increased 2% year-over-year in the fourth quarter of
        2017. MONOVISC revenue grew 21% year-over-year in the fourth quarter
        of 2017, which was partially offset by the decline in ORTHOVISC&#174;
        revenue in the same period, following the industry shift from multiple
        to single injection therapies. For the full year of 2017, product
        revenue increased 5% and MONOVISC global revenue grew 29%, which was
        the primary overall revenue growth driver.
      </li>
      <li style="margin-bottom: 10.0px">
        International Orthobiologics revenue increased 22% for the full year
        of 2017, due primarily to the global expansion of MONOVISC, as well as
        the growth of CINGAL in international markets. Domestically, ORTHOVISC
        and MONOVISC continued to maintain a combined market-leading position.
      </li>
      <li style="margin-bottom: 10.0px">
        Total operating expenses for the fourth quarter of 2017 were $19.7
        million, compared to $16.0 million for the fourth quarter of 2016. The
        increase in total operating expenses was due primarily to higher
        research and development investments required to advance the Company&#8217;s
        growing pipeline towards regulatory approvals and to expand the
        commercial team in anticipation of those product launches. Total
        operating expenses for the full year of 2017 were $67.7 million,
        compared to $52.8 million for the full year of 2016.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income for the fourth quarter of 2017 was $8.1 million, or $0.53
        per diluted share, compared to $8.1 million, or $0.54 per diluted
        share, for the fourth quarter of 2016. Net income for the fourth
        quarter of 2017 included a one-time tax benefit of $2.3 million, or
        $0.15 per diluted share, resulting from the recently enacted U.S. tax
        reform legislation. Net income for the full year of 2017 was $31.8
        million, or $2.11 per diluted share, compared to $32.5 million, or
        $2.15 per diluted share, for the full year of 2016.
      </li>
    </ul>
    <p>
      <b>Recent Business Highlights</b><br>The Company made key commercial,
      operational, pipeline, and financial advancements, including:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Expanding CINGAL and MONOVISC international presence, with MONOVISC
        product approvals and related commercial launches in India, Australia,
        and Taiwan.
      </li>
      <li style="margin-bottom: 10.0px">
        Advancing its product pipeline with completion of patient enrollment
        in the CINGAL Phase III clinical study, and continued progress on
        enrolling patients in the FastTRACK Phase III HYALOFAST&#174; Study for
        cartilage repair.
      </li>
      <li style="margin-bottom: 10.0px">
        Expanding Anika&#8217;s regenerative medicine portfolio with 510(k)
        clearance from the FDA for its injectable HA-based bone repair
        treatment.
      </li>
      <li style="margin-bottom: 10.0px">
        Expanding its strategic collaboration with the Institute for Applied
        Life Sciences at the University of Massachusetts Amherst to continue
        the development of an innovative therapy for the treatment of
        rheumatoid arthritis, and with the Institute of Integrative Biology at
        the University of Liverpool to collaborate on research to develop an
        injectable mesenchymal stem cell therapy for the treatment of
        osteoarthritis.
      </li>
      <li style="margin-bottom: 10.0px">
        Completed all planned activities related to the consolidation of the
        Company&#8217;s global manufacturing operations at Anika&#8217;s Bedford,
        Massachusetts corporate headquarters.
      </li>
    </ul>
    <div style="text-indent: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; 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>Full Year 2018 Corporate Outlook</b><br>Looking forward to 2018, the
      Company expects total revenue growth to be around the mid-single digit
      percentage range for the full year of 2018. Licensing, milestone and
      contract revenue is expected to be $5 million for the year. The Company
      also anticipates continued headway on several key initiatives including:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Completion of the Phase III clinical trial of CINGAL, and the
        submission of a New Drug Application to the FDA for CINGAL;
      </li>
      <li style="margin-bottom: 10.0px">
        International expansion of MONOVISC and CINGAL;
      </li>
      <li style="margin-bottom: 10.0px">
        Continued progress toward the development of a direct
        commercialization capability in the U.S.; and
      </li>
      <li style="margin-bottom: 10.0px">
        Expanding Anika&#8217;s regenerative medicine pipeline with a new product
        candidate for rotator cuff repair.
      </li>
    </ul>
    <p>
      <b>Conference Call Information</b><br>Anika&#8217;s management will hold a
      conference call and webcast to discuss its financial results and
      business highlights tomorrow, Thursday, February 22 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="text-indent: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; 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><br>Anika Therapeutics, Inc.
      (NASDAQ: ANIK) is a global, integrated orthopedic medicines company
      based in Bedford, Massachusetts. Anika is committed to improving the
      lives of patients with degenerative orthopedic diseases and traumatic
      conditions with clinically meaningful therapies along the continuum of
      care, from palliative pain management to regenerative cartilage repair.
      The Company has over two decades of global expertise developing,
      manufacturing, and commercializing more than 20 products based on its
      proprietary hyaluronic acid (HA) technology. Anika's orthopedic medicine
      portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain
      and restore joint function by replenishing depleted HA, and HYALOFAST, a
      solid HA-based scaffold to aid cartilage repair and regeneration. For
      more information about Anika, please visit <u>www.anikatherapeutics.com</u>.
    </p>
    <p>
      <b>Forward-Looking Statements</b><br><i>The statements made in the last
      sentence of the second paragraph and those made in the section titled
      &#8220;Full Year 2018 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
      completion of the Company&#8217;s CINGAL clinical trial and associated
      regulatory submission, the Company&#8217;s development of, and goals
      associated with, its direct commercial capability, the Company&#8217;s
      expectations regarding its 2018 financial performance, the international
      expansion of the Company&#8217;s viscosupplementation product lines, and the
      expansion of the Company&#8217;s regenerative medicine portfolio. 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, but not limited to, (i) the Company&#8217;s
      ability to successfully commence and/or complete clinical trials of its
      products 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; (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 operates 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="text-indent: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; 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 cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td colspan="19" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="19" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td colspan="19" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(in thousands, except per share data)</b>
        </td>
      </tr>
      <tr>
        <td colspan="19" style="text-align: center; padding-left: 0.0px" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="top">
          <b>For the Three Months Ended December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>For the Twelve Months Ended December 31,</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Product revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          28,884
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          28,296
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          107,783
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          102,932
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Licensing, milestone and contract revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          504
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          430
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,637
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          447
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Total revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          29,388
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          28,726
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          113,420
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          103,379
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Cost of product revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,716
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          7,539
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          27,364
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          24,027
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Research and development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          4,266
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,959
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          18,787
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          10,732
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Selling, general and administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,678
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,488
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          21,540
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          18,013
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Total operating expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          19,660
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,986
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          67,691
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          52,772
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          9,728
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          12,740
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          45,729
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          50,607
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Interest income, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          138
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          49
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          473
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          263
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          9,866
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          12,789
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          46,202
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          50,870
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,799
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          4,704
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,386
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          18,323
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,067
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,085
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          31,816
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          32,547
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Basic net income per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          0.56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2.18
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2.22
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Basic weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,596
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,538
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,575
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,682
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Diluted net income per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          0.54
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2.11
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2.15
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Diluted weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,141
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          14,979
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,068
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,116
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; 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 cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td colspan="12">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="12" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="12" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td colspan="12" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(in thousands, except per share data)</b>
        </td>
      </tr>
      <tr>
        <td colspan="12" style="text-align: center; padding-left: 0.0px" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>December 31,</b>
          </p>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current assets:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          133,256
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          104,261
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          24,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          20,500
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accounts receivable, net of reserves of $1,914 and $194 at December
          31, 2017 and December 31, 2016, respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          23,825
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          27,598
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Inventories, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          22,035
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          15,983
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          3,211
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,098
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          206,327
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          170,440
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          56,183
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          52,296
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,254
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          10,635
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          10,227
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,218
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          7,214
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          282,617
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          240,246
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,747
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,303
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Accrued expenses and other current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,326
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,496
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Total current liabilities
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          13,073
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,799
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          660
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,126
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,393
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          6,548
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Preferred stock, $0.01 par value; 1,250 shares authorized, no shares
          issued and outstanding at December 31, 2017 and December 31, 2016,
          respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Common stock, $0.01 par value; 60,000 shares authorized, 14,688 and
          14,627 shares issued and outstanding at December 31, 2017 and
          December 31, 2016, respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          146
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Additional paid-in-capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          68,617
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          61,735
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          (4,784
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          (7,317
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Retained earnings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          199,511
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          168,209
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="top">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          263,491
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          222,773
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Total liabilities and stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          282,617
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          240,246
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; 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 cellspacing="0" style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
      <tr>
        <td colspan="31">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="31" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="31" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Supplemental Financial Data</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="31" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Revenue by Product Line and Product Gross Margin</b>
        </td>
      </tr>
      <tr>
        <td colspan="31" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(in thousands, except percentages)</b>
        </td>
      </tr>
      <tr>
        <td colspan="31" style="text-align: center; padding-left: 0.0px" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="top">
          <b>For the Three Months Ended December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="top">
          <b>For the Twelve Months Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Product Line:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2017</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2016</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2017</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2016</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Orthobiologics
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          25,131
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          24,376
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          86
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          93,816
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          89,695
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          87
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Surgical
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          867
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,590
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,262
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,427
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Dermal
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,519
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,114
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,755
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,759
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,367
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          1,216
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          4
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,950
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5,051
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          5
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 15.0px" valign="top">
          Product Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          28,884
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          28,296
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          107,783
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          102,932
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          20,168
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          20,757
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          80,419
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          78,905
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          70
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          73
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          75
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          77
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td colspan="2">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="31" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Product Revenue by Geographic Region</b>
        </td>
      </tr>
      <tr>
        <td colspan="31" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(in thousands, except percentages)</b>
        </td>
      </tr>
      <tr>
        <td colspan="31" style="text-align: center; padding-left: 0.0px" valign="top">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="top">
          <b>For the Three Months Ended December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="12" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="top">
          <b>For the Twelve Months Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2017</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2016</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2017</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          <b>2016</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Geographic Region:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          United States
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          23,783
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          22,940
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          87,290
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          83,972
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          82
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,692
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,696
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          12,435
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          10,953
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          10
        </td>
        <td style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,409
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          9
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          2,660
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          9
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,058
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          7
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8,007
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          8
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px; border-bottom-width: 1.0pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 15.0px" valign="top">
          Product Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          28,884
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          28,296
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          107,783
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          102,932
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          100
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-left: 0.0px; border-bottom-width: 2.25pt; white-space: nowrap; padding-right: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Anika Therapeutics, Inc.<br>Charles H. Sherwood, Ph.D., CEO<br>Sylvia
      Cheung, CFO<br>Tel: 781-457-9000
    </p>
    <p>

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
