The law firm of Kirby McInerney LLP reminds investors its investigation on behalf of Anika Therapeutics, Inc. ("Anika" or the "Company") (NASDAQ:ANIK) investors concerning the Company's and/or members of its senior management's possible violation of the federal securities laws or other unlawful business practices.

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 contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

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Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website.

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Kirby McInerney LLP

Lauren Molinaro, Esq.

212-699-1171

https://www.kmllp.com

https://securitiesleadplaintiff.com/

investigations@kmllp.com

ANIK Investigation: Investors Encouraged to Contact Kirby McInerney LLP