Anika slumps after trial setback for cartilage repair product

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Anika Therapeutics (NASDAQ:ANIK) fell ~27% on Wednesday after the orthopedic product developer announced that its cartilage repair therapy Hyalofast failed to succeed in a U.S.-based pivotal trial.

Citing data from its FastTRACK study, Anika (NASDAQ:ANIK) said that while Hyalofast

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