Anika Therapeutics Inc. · NASDAQ:ANIK
Anika Therapeutics — Q3 2019 Earnings Presentation
14 slides from Anika Therapeutics's earnings presentation, Oct 24, 2019
Slide 1: Third Quarter 2019 Earnings Call Presentation
Third Quarter 2019 Earnings Call Presentation October 24, 2019 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: Global Leader in Joint Preservation and Restoration
A New Day for Anika: Global Leader in Joint Preservation and Restoration TODAY TOMORROW OA Pain Management Joint Preservation & Restoration Existing Partnership Model Hybrid Commercial Model Office-Based Operating Room-Based Joint Fluid Meniscal Replacement Knee Ligaments Replacement: Cartilage Repl
Slide 4: Foundation for Long-Term Value Creation
Foundation for Long-Term Value Creation PEOPLE PRODUCTS PERFORMANCE 4
Slide 5: Building our Talent Base for Innovation
Building our Talent Base for Innovation Business Development Appointed an EVP of Business Development and Strategic Planning Regulatory, Quality, Clinical Appointed a VP of Regulatory Affairs, Quality, and Clinical Affairs Accelerating growth: Leveraging our financial strength to strategically inves
Slide 6: Hybrid Commercial Model
Hybrid Commercial Model Direct line of sight in the market with MISSION more favorable economic results Build Anika brand awareness in the Orthopedic and Sports Medicine marketplace ANIKA REGIONAL SALES DIRECTORS Onboarded four Regional Sales Directors Northeast Southeast Central West (RSDs) focused
Slide 7: Differentiated characteristics: First surgical procedure
Differentiated characteristics: • HA-enhanced bone repair therapy • Simplified mixing procedure • Faster setting time than current standard of care; increases operating room efficiency First surgical procedure successfully completed in August ~900,000 Patients1 $350M - $400M1 with bone defects in An
Slide 8: Rotator Cuff Regenerative Therapy
Rotator Cuff Regenerative Therapy Partial and Full-Thickness Rotator Cuff Repair Unique therapy complementing Anika’s growing regenerative therapy portfolio Leverages Anika’s proprietary solid HA technology for both partial and full-thickness rotator cuff tears Continued prototype refinement and sur
Slide 9: CINGAL: Next Generation Osteoarthritis Therapy
CINGAL Next Generation Osteoarthritis Therapy First-in-Class Combination HA & Steroid for Pain Associated with OA Continued strong performance from CINGAL in OUS markets with revenue growth of 35% in Q3 and 40% YTD Finalizing the newly designed clinical trial protocol which we will U.S. Market comme
Slide 10: HYALOFAST: Cartilage Repair Therapy
HYALOFAST Cartilage Repair Therapy Only HA-Based Scaffold Material Single-Step, Off the Shelf, Cost Effective Solution Continued the recruitment and initiation process to add U.S. Market new international sites Opportunity: Phase III trial ongoing for U.S. approval; enrollment in low 60% range Over
Slide 11: Q3 2019 Financial Highlights
Q3 2019 Financial Highlights Total Revenue Diluted EPS Product Gross Margin (Millions) 32% $0.64 80% Q3 Adjusted EBITDA1 $29.7 $0.53 69% $26.8 $173M Cash & Investments as of 9/30/2019; No debt Q3 2018 Q3 2019 Q3 2018 Q3 2019 Q3 2018 Q3 2019 Global Viscosupplement revenue increased 9% year-over-year
Slide 12: 2019 Guidance Update
2019 Guidance Update Prior Guidance Updated Guidance Total Revenue ~ 1% - 4% above FY 2018 ~ 6% - 7% above FY 2018 Operating High-$70 million range Mid-$70 million range Expenses Mid- to high- Net Income Mid-$20 million range $20 million range High-$30 million to Mid- to high- Adjusted EBITDA1 low-$
Slide 13: Business and Financial Objectives
Business and Financial Objectives Deliver PROFIT ACCELERATION AND GROWTH and SUSTAINABLE DOUBLE DIGIT REVENUE GROWTH Leverage differentiated product pipeline to DIVERSIFY REVENUE and enhance value capture Increase VITALITY INDEX to 25%+ by the end of five years Pursue STRATEGIC M&A to sustainably ac
Slide 14: 5-Year Strategic Plan for Growth
5-Year Strategic Plan for Growth Talent & R&D Culture Innovation Continue to foster a Invest in R&D to advance culture that encourages and expand joint innovation and positions preservation product the Company for pipeline with new, innovative therapies sustained growth Leader in Joint Preservation