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What Happened?

On July 30, 2025, Anika issued a press release announcing topline results from its clinical trial of Hyalofast, “a resorbable, hyaluronic acid scaffold used in conjunction with autologous bone marrow aspirate concentrate (BMAC) for cartilage repair.” The press release stated that “[w]hile Hyalofast demonstrated consistent improvements in treated patients across all measures of pain and function relative to microfracture, the study did not meet its pre-specified co-primary endpoints. The study was likely impacted by both a higher subject dropout rate in the microfracture arm and missed visits during COVID. This resulted in missing data, which reduced the evaluable sample size and complicated the statistical analysis.” On this news, the price of Anika shares declined by $3.06 per share, or approximately 27.42%, to close at $8.10 per share on July 30, 2025.

What Should I Do?

If you purchased or otherwise acquired Anika securities, have information, or would like to learn more about this investigation, please contactLauren Molinaro Kirby McInerney LLP investigations@kmllp.com

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