<SEC-DOCUMENT>0001157523-19-000413.txt : 20190221
<SEC-HEADER>0001157523-19-000413.hdr.sgml : 20190221
<ACCEPTANCE-DATETIME>20190221160520
ACCESSION NUMBER:		0001157523-19-000413
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190221
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190221
DATE AS OF CHANGE:		20190221

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:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14027
		FILM NUMBER:		19621863

	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>a51944222.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-family: Times New Roman; font-size: 16pt"></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, 2019</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>
    </p>
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          &#160;
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            Delaware
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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
          </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(State or other jurisdiction of</i><br><i>incorporation or
            organization)</i>
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        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Commission file number</i>
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(I.R.S. Employer<br>Identification No.)</i>
          </p>
        </td>
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    </div>
    <p>

    </p>
    <div style="text-align:center">
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        <td valign="top" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            32 Wiggins Avenue, Bedford, MA 01730
          </p>
        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(Address of principal executive offices) (Zip code)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center; white-space: nowrap">
      <br>
      (<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="text-align: center; height: 1.0 pt; color: #000000; width: 15%">


    <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, 2019, Anika Therapeutics, Inc. issued a press release
      announcing its financial results for the fourth quarter and twelve
      months ended December 31, 2018. The full text of the press release is
      furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
    </p>
    <p>

    </p>
    <p style="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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press Release of Anika Therapeutics, Inc. dated
      February 21, 2019.
    </p>
    <p style="margin-left: 60.0px; white-space: nowrap">

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    </p>
    <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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          <p style="margin-top: 0px; margin-bottom: 0px">
            Anika Therapeutics, Inc.
          </p>
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            &#160;
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        <td style="width: 20%">

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        <td style="width: 27%">

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          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated: February 21, 2019
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px; width: 3%">
          By:
        </td>
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            /s/ Sylvia Cheung
          </p>
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        </td>
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        </td>
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            &#160;
          </p>
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 25.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Sylvia Cheung
          </p>
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            &#160;
          </p>
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 25.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
          </p>
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    <p>

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    <p style="text-align: center">
      Exhibit Index<br><br>
    </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51944222ex99_1.htm">99.1</a>
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 88%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51944222ex99_1.htm">Press Release of Anika Therapeutics,
            Inc. dated February 21, 2019.</a>
          </p>
        </td>
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    </div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51944222ex99_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 2018 Financial Results</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Strong
      Bottom Line Performance with $0.54 Diluted EPS for Fourth Quarter of 2018</b></font></i>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>MONOVISC
      and CINGAL Global Revenue Increased 14% for Full Year of 2018</b></font></i>
    </p>
    <p>
      BEDFORD, Mass.--(BUSINESS WIRE)--February 21, 2019--Anika Therapeutics,
      Inc. (NASDAQ: ANIK), a global, integrated orthopedic and regenerative
      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, 2018, and provided
      an update on its business progress in the periods.
    </p>
    <p>
      &#8220;Anika continued to deliver strong earnings and cash flow in the fourth
      quarter, entering 2019 well-positioned to further build on the
      foundation that will drive the Company&#8217;s next phase of growth,&#8221; said
      Joseph Darling, President and Chief Executive Officer of Anika
      Therapeutics. &#8220;During the quarter, MONOVISC and CINGAL end user demand
      remained strong. We also successfully expanded the reach of our
      orthobiologics business in Europe, Asia, Africa and South America with
      the addition of eight new international distributors during the year. We
      were pleased to resume global production and distribution of HYALOFAST,
      HYALOGRAFT-C and HYALOMATRIX, and look forward to benefitting from our
      full complement of products in 2019. We believe 2019 will be a
      transformational year for Anika and we will continue to take advantage
      of the multiple levers available to advance our long-term goal of
      returning to annual double-digit revenue growth. We are focused on solid
      execution and increasing efficiency and productivity, as we address our
      challenges and continue to expand our commercial reach, advance our
      pipeline and drive value for our shareholders.&#8221;
    </p>
    <div style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

        </div>
      </div>
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        <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 2018 was $27.0 million,
        compared to $29.4 million for the fourth quarter of 2017. Total
        revenue for the full year of 2018 was $105.6 million, compared to
        $113.4 million for the full year of 2017. The decrease in revenue for
        the quarter and full year of 2018 was due primarily to the impact from
        the voluntary recall and lower U.S. viscosupplement pricing. 2017
        results also included the achievement of $5.0 million of milestone
        revenue as a result of MONOVISC reaching $100 million in U.S. end-user
        sales within a consecutive 12-month period.
      </li>
      <li style="margin-bottom: 10.0px">
        Global Viscosupplement revenue increased slightly for the full year of
        2018. Global MONOVISC and CINGAL revenue increased 14% for the full
        year of 2018, providing evidence of strong favor toward the Company&#8217;s
        innovative treatments.
      </li>
      <li style="margin-bottom: 10.0px">
        Total operating expenses for the fourth quarter of 2018 were $17.2
        million, compared to $19.7 million for the fourth quarter of 2017. The
        year-over-year decrease in total operating expenses for the fourth
        quarter of 2018 was due primarily to lower cost of product revenue.
        Total operating expenses for the full year of 2018 were $83.8 million,
        compared to $67.7 million for the full year of 2017. The increase in
        total operating expenses for the full year of 2018 was due primarily
        to a one-time charge of $8.4 million in the first quarter, which
        consisted mainly of non-cash stock-based compensation expense
        associated with the retirement of Anika&#8217;s former Chief Executive
        Officer, approximately $2.0 million of non-recurring CINGAL U.S.
        pre-launch market research activities in the first half of 2018, and
        increased personnel and professional service costs.
      </li>
      <li style="margin-bottom: 10.0px">
        Net income for the fourth quarter of 2018 was $7.7 million, or $0.54
        per diluted share, compared to $8.1 million, or $0.53 per diluted
        share, for the fourth quarter of 2017. Net income for the full year of
        2018 was $18.7 million, or $1.27 per diluted share, compared to $31.8
        million, or $2.11 per diluted share, for the full year of 2017. The
        decline in net income for the full year of 2018 was due primarily to
        the decrease in total revenue and increase in operating expenses
        previously discussed.
      </li>
      <li style="margin-bottom: 10.0px">
        Cash, cash equivalents and investments were $159.0 million as of
        December 31, 2018, compared to $149.0 million as of September 30,
        2018. Cash provided by operating activities was $10.0 million for the
        fourth quarter of 2018 and approximately $35.0 million for the full
        year of 2018.
      </li>
    </ul>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
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        <div style="text-align: left">

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        </div>
      </div>
    </div>
    <p>
      <b>Recent Business Highlights</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Resumed global distribution of HYALOFAST, HYALOGRAFT-C and HYALOMATRIX
        in the fourth quarter after a voluntary, non-safety related recall in
        the second quarter of 2018.
      </li>
      <li style="margin-bottom: 10.0px">
        Expanded the international commercial reach of the orthobiologics
        business in Europe, Asia, Africa and South America with the addition
        of eight new international distributors.
      </li>
      <li style="margin-bottom: 10.0px">
        Completed a product prototype of the Company&#8217;s Rotator Cuff repair
        therapy as planned.
      </li>
      <li style="margin-bottom: 10.0px">
        On-track to complete a 5-year strategic plan in the first half of 2019.
      </li>
      <li style="margin-bottom: 10.0px">
        Continued evaluation of potential partnership opportunities for the
        Company&#8217;s product pipeline, which is an important element of its
        5-year strategic plan.
      </li>
    </ul>
    <p>
      <b>CINGAL FDA Update</b><br>Anika recently met with the U.S. Food and
      Drug Administration (FDA) to discuss the totality of available CINGAL
      data, including information from the 17-02 extension study and real
      world evidence from physicians in Canada and Europe, to gain additional
      guidance on the pathway for CINGAL approval in the U.S. Based on that
      meeting, it has become clear that Anika will need to conduct another
      Phase III clinical trial before it can obtain approval for CINGAL in the
      U.S. The Company plans to continue to work with the FDA and pursue the
      most expeditious path to FDA approval for CINGAL. The Company will
      provide updates on its progress on this initiative at appropriate
      intervals moving forward.
    </p>
    <p>
      <b>Full Year 2019 Corporate Outlook</b><br>For the full year of 2019,
      the Company expects total revenue to be approximately 3% to 6% below the
      prior year level due primarily to continued pricing pressures on its
      U.S. viscosupplement business. Licensing, milestone and contract revenue
      is expected to be flat for the year. Total operating expenses are
      anticipated to be in the high $70 million to $80 million range. Adjusted
      EBITDA is expected to be in the low $30 million range, which is based on
      anticipated U.S. GAAP net income in the mid-teen to around $20 million
      range. Capital expenditures are expected to be between $5 million and $8
      million. In 2019, the Company plans to continue advancing key ongoing
      initiatives, including:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Complete and begin implementation of Anika&#8217;s 5-year strategic plan.
      </li>
      <li style="margin-bottom: 10.0px">
        Transform from a pure distributor model business by establishing a
        hybrid commercial model in the U.S., with the goal to launch the
        Company&#8217;s first HA-based, surgically-delivered regenerative therapy
        for bone repair procedures in the second half of 2019.
      </li>
      <li style="margin-bottom: 10.0px">
        International expansion of Orthopedics and Dermal product portfolios.
      </li>
      <li style="margin-bottom: 10.0px">
        Develop and finalize a regulatory strategy for CINGAL in the U.S.
      </li>
      <li style="margin-bottom: 10.0px">
        Pursue strategic acquisitions and partnerships to augment organic
        growth.
      </li>
    </ul>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>Non-GAAP Outlook</b><br>The Company is stating its expectations
      regarding, and will report, its 2019 financial results with respect to
      Adjusted EBITDA, which is a non-GAAP financial measure and should not be
      considered an alternative to net income or other measurements under
      generally accepted accounting principles (GAAP). The Company believes
      that Adjusted EBITDA provides additional useful information to investors
      in their assessment of its operating performance as it is a metric used
      by management to evaluate the Company's performance. Adjusted EBITDA is
      not calculated identically by all companies, and therefore the Company&#8217;s
      measurements of Adjusted EBITDA may not be comparable to similarly
      titled measures reported by other companies.
    </p>
    <p>
      Adjusted EBITDA is defined by the Company as GAAP net income excluding
      depreciation and amortization, interest and other income (expense),
      income taxes, and share-based compensation expense. The Company is not
      providing a quantitative reconciliation of projected Adjusted EBITDA to
      the corresponding GAAP information because the GAAP measures that the
      Company excludes from its projected Adjusted EBITDA are not available
      without unreasonable effort on a forward-looking basis due to their
      unpredictability, high variability, complexity, and low visibility.
      These excluded GAAP measures include interest and other income, income
      taxes, and other charges. Because these charges may vary materially,
      they will have an unpredictable, and potentially significant, impact on
      our future GAAP results.
    </p>
    <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 today, Thursday, February 21 at 5:00 pm 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>
    <p>
      <b>About Anika Therapeutics, Inc.</b><br>Anika Therapeutics, Inc.
      (NASDAQ: ANIK) is a global, integrated orthopedic and regenerative
      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
      tissue 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<sup>&#174;</sup>,
      MONOVISC<sup>&#174;</sup>, and CINGAL<sup>&#174;</sup>, 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>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>Forward-Looking Statements</b><br><i>The statements made in the fifth
      and sixth sentences of the second paragraph, the fourth bullet point in
      the section captioned &#8220;Recent Business Highlights,&#8221; the third sentence
      in the section captioned &#8220;CINGAL FDA Update,&#8221; and those made in the
      section captioned &#8220;Full Year 2019 Corporate Outlook&#8221; of this press
      release, which are not statements of historical fact, are
      forward-looking statements within the meaning of Section 27A of the
      Securities Act of 1933, as amended, and Section 21E of the Securities
      Exchange Act of 1934, as amended. These statements include, but are not
      limited to, those relating to the Company&#8217;s long-term strategies and
      growth plans, the status and completion of the Company&#8217;s 5-year
      strategic plan, the Company&#8217;s expectations with respect to its 2019
      financial performance, the Company&#8217;s U.S. and international commercial
      efforts, the Company&#8217;s plans related to, and the development and
      finalization of a regulatory pathway for, CINGAL, and the Company&#8217;s
      pursuit of strategic acquisitions and partnerships. 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) quarterly sales
      volume variation experienced by the Company, which can make future
      results difficult to predict and period-to-period comparisons
      potentially less meaningful; (x) the Company&#8217;s ability to provide an
      adequate and timely supply of its products to its customers; and (xi)
      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="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </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 colspan="8" valign="top" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>For the Three Months Ended December 31,</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          26,950
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          105,531
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          107,783
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; padding-bottom: 2.0px">
          Licensing, milestone and contract revenue
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          5,637
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Total revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          26,956
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          105,555
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          7,001
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          31,280
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            27,364
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Research &amp; development
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          4,064
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          18,190
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            18,787
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; padding-bottom: 2.0px">
          Selling, general &amp; administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          6,129
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          34,336
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          21,540
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Total operating expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          17,194
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          83,806
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          9,762
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21,749
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          45,729
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px">
          Interest and other income, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          551
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          1,458
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          10,313
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          23,207
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          46,202
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          2,596
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          4,485
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          14,386
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          7,717
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          8,067
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          18,722
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.30
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.18
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px">
          Basic weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          14,168
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          14,442
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          14,575
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Diluted net income per share:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.27
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.11
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px">
          Diluted weighted average common shares outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          14,299
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          14,689
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </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 colspan="3">

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Consolidated Balance Sheets</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>(in thousands, except per share data)</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="text-align: center; padding-left: 0.0px">
          (unaudited)
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2018</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px">
          Cash, cash equivalents and investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          159,014
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          157,256
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          20,775
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21,300
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; padding-bottom: 2.0px">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          1,854
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 40.0px">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          202,943
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          54,111
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          4,897
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          9,191
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          7,851
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          278,993
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3,143
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px; padding-bottom: 2.0px">
          Accrued expenses and other current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          8,146
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 40.0px; padding-bottom: 2.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          11,289
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          550
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3,542
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Preferred stock, $0.01 par value
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Common stock, $0.01 par value
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          50,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; white-space: nowrap; padding-right: 0.0px">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (5,526
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          218,233
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 40.0px; padding-bottom: 2.0px">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          263,612
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; padding-bottom: 4.0px">
          Total liabilities and stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          278,993
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-left: 0pt; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; width: 100%">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; font-size: 8pt; margin-bottom: 10.0px; width: 100%">
      <tr>
        <td colspan="33" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Anika Therapeutics, Inc. and Subsidiaries</b>
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Supplemental Financial Data</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Revenue by Product Line and Product Gross Margin</b>
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>(in thousands, except percentages)</b>
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="top" style="text-align: center; padding-left: 0.0px">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </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 colspan="14" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>For the Three Months Ended December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="14" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>For the Twelve Months Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Product Line:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2017</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2017</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Orthobiologics
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          23,778
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          88
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          93,556
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          87
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Surgical
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1,814
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          5,514
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Dermal
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          233
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          396
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          1,125
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          6,065
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          5,950
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 4.0px">
          Product Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          26,950
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          100
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          105,531
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          100
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          19,949
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          74,251
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            74%
          </p>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </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 colspan="2">

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Product Revenue by Geographic Region</b>
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>(in thousands, except percentages)</b>
        </td>
      </tr>
      <tr>
        <td colspan="33" valign="top" style="text-align: center; padding-left: 0.0px">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </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 colspan="14" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>For the Three Months Ended December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="14" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>For the Twelve Months Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Geographic Region:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2017</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>2017</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          United States
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21,974
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          85,351
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          81
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Europe
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2,709
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          11,730
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          12
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 2.0px">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          2,267
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          8,450
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          8,058
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; padding-bottom: 4.0px">
          Product Revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          26,950
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          100
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          105,531
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          100
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; border-bottom-color: black">
          %
        </td>
        <td>

        </td>
        <td>

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

    </p>
    <p>
      CONTACT:<br>Anika Therapeutics, Inc.<br>Joseph Darling, President &amp; CEO<br>Sylvia
      Cheung, CFO<br>Tel: 781-457-9000
    </p>
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</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
