Anika Therapeutics Inc. · NASDAQ:ANIK
Anika Therapeutics — Q4 2014 Earnings Presentation
10 slides from Anika Therapeutics's earnings presentation, Feb 26, 2015
Slide 1: Fourth Quarter 2014 Investor Conference Call
Anika Therapeutics, Inc. Fourth Quarter 2014 Investor Conference Call February 26, 2015 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement The statements made in this presentation that are not statements of historical fact are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve known an
Slide 3: Overview
Overview Record full-year financial results Achieved operational and strategic milestones • Growth and improved profitability Total revenue up 41% to $105.6M Product revenue up 5% to $75.5M Operating income up 88% to $61.4M Net income up 86% to $38.3M, or $2.51 per diluted share • Concluded 2014 wit
Slide 4: Income Statement Highlights
Income Statement Highlights Top- and bottom-line growth in Q4 and 2014 Q4 Q4 FY FY %∆ %∆ 2013 2014 2013 2014 Total Revenue $21.3 $23.3 9% $75.1 $105.6 41% Product Gross Margin 69% 69% - 68% 72% - Operating Expenses $10.8 $11.2 3% $42.5 $44.1 4% Operating Income $10.4 $12.1 16% $32.6 $61.4 88% Net In
Slide 5: Balance Sheet Highlights
Balance Sheet Highlights Strong cash and working capital position (In millions) 12/31/13 12/31/14 $44M cash increase • U.S. Monovisc® milestone Cash and Investments $63.3 $106.9 payments earned in 2014 • Strong cash from operations Working Capital $85.3 $133.1 • Exercise of employee stock Stockholde
Slide 6: Viscosupplementation Highlights
Viscosupplementation Highlights Orthovisc® and Monovisc® achieves ~21% U.S. Market Share • Positive clinical customer response to U.S. Monovisc® launch Monovisc® achieves ~2% U.S. market share Minimal Orthovisc® cannibalization • Received unique J-Code assignment for Monovisc® in Q4 2014 Effective J
Slide 7: Viscosupplementation Highlights
Viscosupplementation Highlights Continued global expansion Clinical and regulatory progress on Cingal® • Orthovisc® and Monovisc® geographic expansion in targeted markets • Completed bio-statistical data analysis and submitted CE Mark application in Dec. 2014 • Filed Cingal® PMA with FDA ahead of sc
Slide 8: Product Pipeline
Product Pipeline Increased focus on regenerative medicine • Fourth-generation injectable Osteoarthritis product in early development stage • Progress on development of HyalofastTM • Completed pre-submission package for the FDA in 2014 • Remain on track to commence Phase III study in 2H 2015 • Early
Slide 9: 2015 Business Outlook
2015 Business Outlook Strongly positioned financially and operationally • Unique CMS J-Code and market momentum position Monovisc® for significant growth • Building and maintaining strong viscosupplementation position in the U.S. and expanding internationally • Cingal® and HyalofastTM advancing towa
Slide 10: Fourth Quarter 2014 Investor Conference Call
Anika Therapeutics, Inc. Fourth Quarter 2014 Investor Conference Call February 26, 2015 10