Anika Therapeutics Inc. · NASDAQ:ANIK
Anika Therapeutics — Q4 2019 Earnings Presentation
11 slides from Anika Therapeutics's earnings presentation, Feb 20, 2020
Slide 1: Fourth Quarter & Full Year 2019 Earnings Call Presentation
FOURTH QUARTER & FULL YEAR 2019 EARNINGS CALL PRESENTATION February 20, 2020 Nasdaq: ANIK
Slide 2: Safe Harbor Statements
SAFE HARBOR STATEMENTS Cautionary Note on Forward-looking Statements The statements made in, and during the course of, this presentation that are not statements of historical fact, including those related to the Company’s commercial capabilities, initiatives and production, its product pipeline and
Slide 3: A New Day for Anika: A Global Sports & Regenerative Medicine Company
A NEW DAY FOR ANIKA: A GLOBAL SPORTS & REGENERATIVE MEDICINE COMPANY YESTERDAY TODAY & TOMORROW OA Pain Management Joint Preservation & Restoration • ORTHOVISC P Biocomposites P Cartilage Replacement P TACTOSET • MONOVISC P Ligament Repair P Augmentation Rotator Cuff Repair • CINGAL P Meniscal Repla
Slide 4: Building Our Talent Base for Innovation & Performance
BUILDING OUR TALENT BASE FOR INNOVATION & PERFORMANCE • Business Development Appointed an EVP of Business Development and Strategic Planning • Research and Development Appointed a VP of R&D • U.S. Commercial Appointed a VP of U.S. Sales; added 4 Regional Sales Directors • Regulatory, Quality, Clinic
Slide 5: Parcus Medical & Arthrosurface: Building Commercial Capabilities
PARCUS MEDICAL & ARTHROSURFACE: BUILDING COMMERCIAL CAPABILITIES • Enhancing commercial talent and capabilities • Added ~40 sales reps, 150+ U.S. distributors, 70+ international distributors • Focused on achieving commercial scale quickly and efficiently • New capabilities provide direct line of sig
Slide 6: TACTOSET and Rotator Cuff Repair Therapy
TACTOSET AND ROTATOR CUFF REPAIR THERAPY TACTOSET BONE REPAIR THERAPY • Commenced full-scale launch at OSET in December 2019 • Onboarded 17 distributor agents to date • 2020 revenue expected to be approximately $3 million ROTATOR CUFF REPAIR THERAPY • Development progressing according to plan • Expe
Slide 7: CINGAL: Next Generation Novel Osteoarthritis Therapy
CINGAL: NEXT GENERATION NOVEL OSTEOARTHRITIS THERAPY CINGAL • 2019 revenue growth close to 30% • On track to initiate pilot study in 1H 2020 • Preparing for U.S. site initiation and patient enrollment • Expect the pilot study to take ~1 year to complete • U.S. market opportunity: Over $1B annually 7
Slide 8: HYALOFAST: Cartilage Repair Therapy
HYALOFAST: CARTILAGE REPAIR THERAPY HYALOFAST • Continuing patient recruitment and adding new international sites • Patient enrollment close to 70% complete • Expect to initiate 10 new trial sites in 1H 2020 • Expect to complete patient enrollment by the end of 2020 8
Slide 9: Parcus Medical and Arthrosurface Integrations
PARCUS MEDICAL AND ARTHROSURFACE INTEGRATIONS • Integration adds: • Parcus Medical’s sports medicine implant and instrumentation solutions • Arthrosurface’s less invasive partial joint replacement solutions • Growth story focused on adding capabilities • Key integration targets: • Deliver double dig
Slide 10: Q4 & FY 2019 Financial Highlights
Q4 & FY 2019 FINANCIAL HIGHLIGHTS Total Revenue Product Gross (Millions) $29.8 Diluted EPS Margin 27% $0.54 74% 71% FY19 adjusted EBITDA (1) $27.0 $0.28 $185M Cash & Investments as of Q4 2018 Q4 2019 Q4 2018 Q4 2019 Q4 2018 Q4 2019 12/31/2019; No debt • Global Viscosupplement revenue increased 11% f
Slide 11: 2020 Guidance & Key Initiatives
2020 GUIDANCE & KEY INITIATIVES Guidance(1) FY 2020 2020 is focused on: Total Revenue $160 – $165 million range Total Revenue: >40% vs. 2019 Operating Expenses $150 – $155 million range • Parcus Medical and Arthrosurface integrations Net Income $5 – $12 million range Additional key initiatives: Mid-