Anika Therapeutics rises as shareholder asks drugmaker to sell itself
21/02/2023 17:52
** Shares of Anika Therapeutics ANIK.O up 2% at $31.1
** Caligan Partners, which has a 4% stake in co, urges ANIK to consider
strategic alternatives including a full sale, and is preparing to nominate
directors to the biotech company's board urn:newsml:reuters.com:*:nL1N35118T
** "Anika may be better positioned as a private company or as part of a
larger organization" - Caligan's managing partner
** Caligan expressed concern at management's decision in March 2022 to
withdraw financial targets it had announced less than a year earlier, and called
its joint preservation segment a drag on profitability
** "Anika's board and management team are confident that the continued
successful execution of our strategy will drive significant shareholder value,"
the company said in a statement.
** More than 53,172 shares change hands, more than 1.2 times the stock's
25-day average moving volume
** Stock up 5.2% YTD
(Reporting by Nandhini Srinivasan in Bengaluru)
((nandhini.srinivasan@thomsonreuters.com))