Anika Q1 2020 Earnings Report
Key Takeaways
Anika Therapeutics reported solid first-quarter results, with total revenue increasing by 43% year-over-year. The company completed the acquisitions of Parcus Medical and Arthrosurface and strengthened its executive leadership team. Due to the COVID-19 pandemic, Anika has withdrawn its full-year 2020 financial guidance but is well-positioned to manage through the challenges.
Total revenue increased 43% year-over-year.
Completed the acquisitions of Parcus Medical and Arthrosurface.
Withdrew full-year 2020 financial guidance due to COVID-19.
Drew down $50.0 million on its existing credit facility to strengthen liquidity.
Anika
Anika
Forward Guidance
Due to the evolving and uncertain impact of the COVID-19 pandemic, Anika is withdrawing its previously announced financial guidance for the full year of 2020.