UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
Form 8-K
_____________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported): February 10, 2020
Anika Therapeutics
(Exact Name of Registrant as Specified in Charter)
| Delaware | 000-21326 | 04-3145961 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
| 32 Wiggins Avenue, Bedford, Massachusetts 01730 |
| (Address of Principal Executive Offices) (Zip Code) |
(781) 457-9000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | ||
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.01 per share | ANIK | NASDAQ Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Interim Chief Executive Officer On January 29, 2020, we announced that our board of directors had appointed an Office of the President, comprised of three of our executive officers, to provide ongoing leadership and oversight of day-to-day operations following the death of Joseph Darling, our President and Chief Executive Officer, earlier on that date. On February 12, 2020, we announced that the board had appointed Cheryl R. Blanchard, one of our directors, to serve as our Interim Chief Executive Officer, in lieu of the continuation of the Office of the President, effective February 10, 2020. The previously appointed Office of the President was dissolved as of that date. Biography of Cheryl R. Blanchard Cheryl R. Blanchard, age 55, has been one of our directors since August 2018. Until her appointment as Interim Chief Executive Officer, Dr. Blanchard was serving as a member of the compensation committee and governance and nominating committee of our board of directors. She has served as a director of Neuronetics (NASDAQ:STIM) since February 2019 and a director of Daré Bioscience, Inc. (NASDAQ:DARE) since November 2019. Dr. Blanchard received her Ph.D. and M.S. in Materials Science and Engineering from the University of Texas at Austin, and her B.S. in Ceramic Engineering from Alfred University. · From 2014 to November 2019, she was President and Chief Executive Officer of Microchips Biotech, Inc., a venture-backed biotechnology company developing regenerative medicine and drug delivery products. · Since 2012 she has been Principal at Blanchard Consulting, LLC, a provider of scientific, regulatory, and business strategy consulting services to medical device companies and private equity clients. · From 2000 to 2012, she held various offices, including Senior Vice President and Chief Scientific Officer of Zimmer, Inc., and General Manager of Zimmer Biologics of Zimmer, Inc., a medical device company focused on musculoskeletal products.
Item 7.01. Regulation FD Disclosure.
On February 12, 2020, we issued a press release entitled “Anika Therapeutics Names Board Member Dr. Cheryl Blanchard as Interim CEO.” A copy of the press release is furnished as Exhibit 99.1 to this report. The information contained in this Item 7.01 and in the press release furnished as Exhibit 99.1 to this report shall not be incorporated by reference into any filing of the registrant with the Securities and Exchange Commission, whether made before, on or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing. The information contained in this Item 7.01 and in the press release furnished as Exhibit 99.1 to this report shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section or Section 11 or 12(a)(2) of the Securities Act of 1933.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit Number Description 99.1 Press release dated February 12, 2020
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Anika Therapeutics | ||
| Date: February 14, 2020 | By: | /s/ Sylvia Cheung |
| Sylvia Cheung | ||
| Chief Financial Officer | ||
EXHIBIT 99.1
Anika Therapeutics Names Board Member Dr. Cheryl Blanchard as Interim CEO
BEDFORD, Mass., Feb. 12, 2020 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK) today announced that Dr. Cheryl Blanchard, a member of the Company’s Board of Directors since August 2018, has been named interim Chief Executive Officer, effective immediately, while the Board continues its search to identify a new CEO following the recent passing of Joseph Darling. In connection with Dr. Blanchard’s appointment, the previously announced interim Office of the President has been dissolved.
“We are pleased that Dr. Blanchard, a seasoned executive who has previously served as a biotech President and CEO, has agreed to step in as our interim CEO as we search for Anika’s next leader,” said Dr. Joseph Bower, Chairman of Anika's Board of Directors. “With Dr. Blanchard’s experience, as well as her service on our Board since August 2018, we expect this to be a smooth transition. Given her experience in leading orthopaedic device, joint preservation and restoration businesses, we are fortunate to be able to call on her to help build on Anika’s strong foundation and continue its evolution into a leader in joint preservation and restoration. We are confident in Anika’s prospects and the strong and deep leadership team we have in place as we continue to enhance value for our shareholders, customers and other stakeholders.”
“We are all saddened by Joe’s sudden passing, but we also share a commitment to carrying out the initiatives crafted by him and the rest of the executive team and Board. I step into this interim role confident in the team’s ability to continue the successful execution of Anika’s five-year strategic plan,” said Dr. Blanchard. “Since joining the Board, I have developed a deep appreciation for the Company’s proprietary offerings and exceptional talent. Anika is well-positioned in its markets and has significant growth prospects. I look forward to leveraging my past experiences and collaborating with the team to maintain the high level of operating discipline while solidifying an expanding position and share in the $7 billion sports and regenerative medicine market.”
The Company plans to issue its fourth-quarter and full-year 2019 financial results after the close of the market on February 20, 2020 and will hold its investor conference call on the same day, February 20, 2020, at 5:00 p.m. ET to discuss its financial results, business highlights, and outlook.
About Cheryl R. Blanchard, Ph.D.
Dr. Blanchard joined the Board of Directors of Anika Therapeutics in August 2018. She served as President and Chief Executive Officer of Microchips Biotech, Inc., a venture-backed biotechnology company developing regenerative medicine and drug delivery products, from 2014 until its sale to Daré Bioscience, Inc. in November 2019. From 2000 to 2012, she served in various officer positions of Zimmer, Inc. (now Zimmer Biomet), a medical device company focused on musculoskeletal products, including as the Senior Vice President, Corporate Chief Scientific Officer and General Manager of its Biologics Business. She was also a member of Zimmer’s executive committee and founded, built and led Zimmer’s Joint Preservation/Regenerative Medicine business. Prior to joining Zimmer, Dr. Blanchard built and led the medical device practice at Southwest Research Institute. Dr. Blanchard received her M.S. and Ph.D. in Materials Science and Engineering at the University of Texas at Austin and received her B.S. in Ceramic Engineering at Alfred University. Dr. Blanchard is a member of the National Academy of Engineering.
Until her appointment as Interim Chief Executive Officer, Dr. Blanchard was serving as a member of Anika’s Compensation Committee and Governance and Nominating Committee. She has served as a director of Neuronetics (NASDAQ: STIM) since February 2019 and a director of Daré Bioscience, Inc. (NASDAQ: DARE) since November 2019. Dr. Blanchard also serves on the Board of a privately held company in the life sciences industry.
About Anika Therapeutics, Inc.
Anika Therapeutics, Inc. (NASDAQ: ANIK) is a global, integrated biomedical joint preservation and regenerative therapies company based in Bedford, Mass. Anika is committed to delivering therapies to improve the lives of patients across a continuum of care from osteoarthritis pain management to joint preservation and restoration. The company has more than two decades of global expertise commercializing more than 20 products based on its proprietary hyaluronic acid (HA) technology platform. For more information about Anika, please visit www.anikatherapeutics.com.
Forward-Looking Statements
This press release includes 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, as amended, concerning, but not limited to, the establishment of an Office of the President and the management leadership structure of the Company. The Securities and Exchange Commission ("SEC") encourages companies to disclose forward-looking statements so that investors can better understand a company’s future prospects and make informed investment decisions. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as "will," "likely," "may," "believe," "expect," "anticipate," "intend," "seek," "designed," "develop," "would," "future," "can," "could," and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans, and objectives are forward-looking statements. Please refer to the factors set forth under the heading "Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC, as may be amended or supplemented in subsequently filed Quarterly Reports on Form 10-Q for important factors that we believe could cause actual results to differ materially from those in our forward-looking statements. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
| For Investor Inquiries: Anika Therapeutics, Inc. Sylvia Cheung, 781-457-9000 Chief Financial Officer investorrelations@anikatherapeutics.com | For Media Inquiries: W2O Group Jeremy Berrington, 312-241-1995 jberrington@w2ogroup.com |