Anika Therapeutics stockholders approve an amendment to the company’s 2017 Omnibus Incentive Plan at the annual meeting held Friday. The amendment increases the number of shares of common stock reserved under the plan by 475,000, raising the total from 5,285,000 to 5,760,000 shares. All authorized shares may now be granted as incentive stock options under Section 422 of the Internal Revenue Code. No other provisions of the plan were changed.

At the meeting, stockholders also elected Cheryl R. Blanchard, Ph.D., Joseph H. Capper, and Glenn R. Larsen, Ph.D., as Class II directors to serve until the 2028 annual meeting and until their successors are elected or they resign or are removed.

The voting results for the director elections were as follows:
Cheryl R. Blanchard, Ph.D.: 8,754,717 votes for, 2,139,215 against, 51,074 abstain, 1,406,800 broker non-votes.
Joseph H. Capper: 10,521,730 for, 387,385 against, 35,891 abstain, 1,406,800 broker non-votes.
Glenn R. Larsen, Ph.D.: 8,712,940 for, 2,202,441 against, 29,625 abstain, 1,406,800 broker non-votes.

Stockholders ratified the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, with 12,076,726 votes for, 248,610 against, and 26,470 abstain.

In a non-binding advisory vote, stockholders approved compensation for the company’s named executive officers, with 8,374,076 votes for, 2,529,081 against, 41,849 abstain, and 1,406,800 broker non-votes.

A total of 12,351,806 shares were present or represented by proxy at the meeting, representing 86.13% of the company’s outstanding common stock entitled to vote.

In other recent news, Anika Therapeutics reported its financial results for the first quarter of 2025, which fell short of expectations. The company posted an earnings per share (EPS) of -$0.06, missing the forecasted -$0.04, while revenue came in at $26.17 million, below the expected $28.13 million. This represents a revenue decline of 10% year-over-year, with the OEM channel experiencing a significant 23% drop. Despite these challenges, Anika’s commercial channel showed resilience, growing by 18% year-over-year. The company is facing pricing pressures in the U.S. viscosupplementation market, which may impact future profitability. Looking ahead, Anika expects its commercial channel revenue to grow by 12-18% in 2025, while the OEM channel is projected to decline by 16-20%. The company remains optimistic about its product innovations, including the Integrity Implant System and HYALOFAST, which are expected to drive future growth. Additionally, Anika continues to explore distribution options for CINGAL and has sufficient cash reserves to complete regulatory processes.

Anika Therapeutics stockholders approve incentive plan amendment and elect directors

Anika Therapeutics stockholders approved an amendment to the company’s 2017 Omnibus Incentive Plan, increasing reserved shares and expanding grant options. Directors Cheryl R. Blanchard, Joseph H. Capper, and Glenn R. Larsen were elected, with Deloitte & Touche LLP appointed as auditors. The company reported Q1 2025 financial results below expectations, including negative EPS and revenue shortfalls, while highlighting resilience in the commercial channel and future growth opportunities.