ANIKA THERAPEUTICS, INC.(Nasdaq: ANIK)
Rodman & Renshaw Global
Investment Conference
September 13, 2016
SAFE HARBOR STATEMENT
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 expanded commercial capabilities, product
pipeline and associated timelines, upcoming corporate milestones, and growth strategy and
projections, 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 and unknown risks, uncertainties, and other factors. The words “potential,” “develop,”
“promising,” “believe,” “will,” “would,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “likely,” and
other expressions, which are predictions of, or indicate future events and trends, and which do not
constitute historical matters, identify forward-looking statements, including, without limitation, those
statements related to the Company’s product pipeline, the regulatory status, including plans for
expanded indications, of the Company’s products, the market potential of the Company’s products,
and management’s discussion of the company’s growth and strategic plans. The Company'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, both known and
unknown, including, without limitation, future strategic decisions made by the Company, the results of
its research and development efforts and the timing of regulatory approvals.
2
A GLOBAL, INTEGRATED ORTHOPEDIC MEDICINES COMPANY
3
Committed to improving the lives of patients with degenerative orthopedic diseases by providing innovative and
differentiated therapeutic solutions along the continuum of care, from palliative care to regenerative medicine.
Experience in Product
Development, Manufacturing and Commercialization
Proprietary Hyaluronic Acid
TechnologyPlatform
Worldwide Product Approvals
25 Million+ Procedures
Performed Globally
4
HYALURONIC ACID (HA) TECHNOLOGY PLATFORM:INSPIRED BY NATURE, PERFECTED BY SCIENCE
Hyaluronic Acid is a Naturally-Occurring Biopolymer • Vital to Healthy Joint and Tissue Function
• Affects Cell Migration, Angiogenesis, and Cell Proliferation
Anika’s HA Technology Platform• Modification of HA to Address Range of
Palliative, Restorative, and
Regenerative Indications
• Basis for Current Commercialized
Products and Future Innovative
Therapies Yet to be Conceptualized
• Over 20 Commercialized Products
Across 5 Therapeutics Areas and a
Robust Pipeline
5
2015 + BEYOND
2004-2015
1992-2004
Building ViscosupplementationFranchise
Delivering Innovation & Growth
• Company Incorporated 1992• Primarily HA Biomaterials
• Direct Product Commercialization• Launch of CINGAL and HYALOFAST• Continued Pipeline Growth
Focus on Manufacturing
• Focused Development• Launch of U.S. Visco Business• ORTHOVISC and MONOVISC Achieve
Strong Market Positioning
REMARKABLE HISTORY AND EXCITING FUTURE
STRONG FOUNDATION DRIVING FUTURE GROWTH:PRODUCT REVENUE
6
₁ Multi-injection segment
$52.7M
$62.0M$68.0M $71.8M
$75.5M
$87.7M
ORTHOVISC® Market Leader
in U.S.1
MONOVISC® U.S. Launch
MONOVISC® #2 in U.S. Single-Injection Market
2010 2011 2012 2013 2014 2015 Beyond
Growing Visco. Franchise
Pipeline based on HA Technology Platform
Direct Commercial Capability and Other Investments
Strategic M&A
Q2 2016 FINANCIAL & BUSINESS HIGHLIGHTS
7
$26.6M
$112M
Total revenue, 16%
growth year-over-year
$8.6M Net income, 10% growth
year-over-year
Cash and investments
Commercially launched CINGAL in Canada and Europe
Advanced HYALOFAST FastTRACK and MONOVISC hip OA Phase III trials
Received FDA approval of IDE for tendinopathy Phase III trial
Continued $25M ASR program
Build-out of manufacturing operations on track
LONG-TERM GROWTH STRATEGY
8
Expanding Globally
Advancing Pipeline
Strengthening Infrastructure
Strategic M&A
VISCOSUPPLEMENTATION FRANCHISE WITH FORMIDABLE MARKET POSITIONING
• Superior properties: high HA concentration, ideal molecular weight, optimal dynamic viscosity
• #1 Multi-Injection Product in U.S.
• Performance Driven by Strong End-User Demand
• Growing Market Share
• Poised to be Leader of U.S. Viscosupplementation Market
• Highest dose of ultra-pure HA, and lowest volume in a single injection
• 1st and only FDA-approved single injection product with non-animal HA
• #2 Single-Injection Product in U.S.
9
DEEP & DIFFERENTIATED PIPELINE
10
Phase III
Phase III
In U.S. Regulatory Process
Product Candidate
Phase III to CommenceTendinopathy
IndicationStage of Development
(For U.S. Approval)
Market Opportunity
~$2 B
~$600 M
$500+ M
~$700 M
Knee Osteoarthritis
Hip Osteoarthritis
Cartilage Regeneration
Lateral Epicondylosis“Tennis Elbow”
Ex-U.S. Approvals
Approved in Canada & EU
Approved in Canada, EU &
Other Intl. Countries
Approved in EU & Other Intl. Countries
Research ~$16 BRheumatoid Arthritis
Research Collaboration
CINGAL AS NEXT GENERATION OA DRUG THERAPY
11
•1st Combination HA and Steroid in a Single Injection for Pain Associated with Knee OA
•Rapid and Long Lasting Relief of Pain Symptoms
•Approved in Canada and EU; In U.S. Regulatory Process
Market Opportunity: ~$2 Billion
CINGAL AS NEXT GENERATION OA DRUG THERAPY
CINGAL® shows highly statistical improvement compared to saline at all endpoints at 26 weeks
49%
Patient Global Assessment
67%58%
Evaluator Global Assessment
73%
53%
Total WOMAC
68%
50%
WOMAC Stiffness
66%
52%
WOMAC Physical Function
67%
Mea
nIm
pro
vem
en
t fr
om
Bas
elin
e (%
)
1 day 1 month 6 months
Rapid pain relief that lasts
SteroidsIntra-Articular
Viscosupplements
Lasts through 6 monthspost injection
Starts working withindays post injection
*Western Ontario and McMaster Universities Arthritis Index (WOMAC)
12
CINGAL AS NEXT GENERATION OA DRUG THERAPY
CINGAL® extends the proven benefits of Anika’s proprietary high concentration cross-linked hyaluronic acid formulation to a broader range of
patients across the spectrum of osteoarthritis management
0No Radiographic Evidence of OA
1No Joint Space Narrowing
(JSN) but Possible Osteophytic Lipping
2Definite JSN and Definite Osteophytes
3Moderate & Multiple Osteophytes, Definite JSN, Sclerosis, Possible
Bony Deformity
4Large Osteophytes, Marked JSN, Severe
Sclerosis, & Definite Bony Deformity
ACETAMINOPHEN
NSAIDs
STEROIDS
VISCOSUPPLEMENTATION
OPIOIDS
TKA
Kellgren & Lawrence Classification System of Knee Osteoarthritis Severity
13
EXPANDING INDICATION FOR MONOVISC
14
• Expanding Product Indication for Treatment of Hip OA Pain
• IDE Sponsored by U.S. Commercial Partner DePuy Synthes
• Potential to be First Therapy to Market for Hip OA Indication
• Phase III Trial Ongoing
Market Opportunity: ~$600M
ADVANCING REGENERATIVE MEDICINE WITH HYALOFAST FOR CARTILAGE REPAIR
15
* In Pipeline in the U.S.; Approved in E.U.
* • Non-woven HA Biodegradable 3D Scaffold for Cartilage Repair
• Cost-effective Single-step Procedure for the Repair of Articular Cartilage Defects
• Over 7,000 Treated with HYALOFAST Internationally
• FastTRACK Phase III Trial Ongoing for U.S. Approval
Market Opportunity: $500M+
LEVERAGING HA TECHNOLOGY PLATFORM
16
• New Program Leveraging Injectable HA Technology
• Received FDA Approval for IDE to Conduct Phase III Trial for Lateral Epicondylosis “Tennis Elbow”
• Patient Enrollment to Commence in Q4 2016
• Submitted CE Mark Application in Q1 2016
Market Opportunity: ~$700 Million
Tendinopathy: Repetitive Overuse Injuries to Soft and Connective Tissue Components of the Joint
KEY CORPORATE MILESTONES
17
• CINGAL FDA NDA Submission
• HYALOFAST U.S. Study Patient Enrollment Completion
• Relocation of Expanded European Hub in Padova, Italy
• Integration of Manufacturing Operations
Launch of CINGAL in Canada and EuropeCompleted
• Development of Direct Commercial Strategy
Product Developments
Operational Developments
Commercial Developments
TRACK RECORD OF SUCCESS
18
~280%3-Year Total
Shareholder Return
16% FY 2015 Product Revenue Growth
Strong Balance Sheet*
$112M in Cash & Investments No Debt
Solid HA Tech Platform with 50+ Patents Owned and Accessible
#2Overall Position in U.S. Visco. Market
$93MFY 2015
Total Revenue
55+ CountriesCommercial Presence in
FY 2013 FY 2014 FY 2015
Product Revenue Milestone Revenue
$75M
$106M$93M
* As of 6/30/2016
ANIKA THERAPEUTICS, INC.(Nasdaq: ANIK)
Rodman & Renshaw Global
Investment Conference
September 13, 2016