Investment Thesis
Anika Therapeutics 5-year share price performance. Source: TradingView
Anika Therapeutics' (ANIK) share price has dealt in peaks and troughs over the past couple of years after a 5-year period of exceptional growth - the stock grew by 2000% between 2013 and 2018.
A poor set of Q118 results and the voluntary recall of 3 products (HYALOFAST, HYALOGRAFT-C and HYALOMATRIX) sent Anika's share price tumbling in mid 2018, before the failure of knee osteoarthritis treatment CINGAL in a phase 3 clinical trial in the US wiped another 21% from its value.
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