898437--3/9/2006--ANIKA_THERAPEUTICS

related topics

{acquisition, growth, future}

{product, liability, claim}

{stock, price, share}

{regulation, change, law}

{operation, international, foreign}

{product, candidate, development}

{cost, regulation, environmental}

{property, intellectual, protect}

{personnel, key, retain}

{provision, law, control}

{cost, contract, operation}

{operation, natural, condition}

{competitive, industry, competition}

{customer, product, revenue}

{product, market, service}

Our business is subject to comprehensive and varied government regulation and, as a result, failure to obtain FDA or other governmental approvals for our products may materially adversely affect our business, results of operations and financial condition. Substantial competition could materially affect our financial performance. We are uncertain regarding the success of our clinical trials. We are dependent upon marketing and distribution partners and the failure to maintain strategic alliances on acceptable terms will have a material adverse effect on our business, financial condition and results of operations. Our future success depends upon market acceptance of our existing and future products. We may be unable to adequately protect our intellectual property rights. Our manufacturing processes involve inherent risks and disruption could materially adversely affect our business, financial condition and results of operations. Our financial performance depends on the continued growth and demand for our products and we may not be able to successfully manage the expansion of our operations If we engage in any acquisition as a part our growth strategy, we will incur a variety of costs, and may never realize the anticipated benefits of the acquisition. Sales of our products are largely dependent upon third party reimbursement and our performance may be harmed by health care cost containment initiatives. We may seek financing in the future, which could be difficult to obtain and which could dilute your ownership interest or the value of your shares. We could become subject to product liability claims, which, if successful, could materially adversely affect our business, financial condition and results of operations. Our business is dependent upon hiring and retaining qualified management and scientific personnel. We are subject to environmental regulation and any failure to comply with applicable laws could subject us to significant liabilities and harm our business. Our future operating results may be harmed by economic, political and other risks relating to international sales. Our stock price has been and may remain highly volatile, and we cannot assure you that market making in our common stock will continue. Our charter documents contain anti-takeover provisions that may prevent or delay an acquisition of us. Our revenues are derived from a small number of customers, the loss of which could materially adversely affect our business, financial condition and results of operations. Additional costs for complying with recent and proposed future changes in Securities and Exchange Commission, Nasdaq Stock Market and accounting rules could adversely affect our profits. With new rules, including the Sarbanes-Oxley Act of 2002, we may have difficulty in retaining or attracting directors for the board and various sub-committees thereof or officers. We may have difficulty obtaining adequate directors and officers insurance and the cost for coverage may significantly increase.

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898437--3/9/2006--ANIKA_THERAPEUTICS_INC