Regulatory milestones

Anika Therapeutics Inc. (NASDAQ:ANIK) fell $2.53 (21%) to $9.42 on Wednesday after FDA upheld a 2010 non-approvable letter for Monovisc to treat osteoarthritis of the knee following an appeal from the company. Anika said it plans to request a meeting with the agency to determine next steps. Last year, Anika granted the DePuy Mitek Inc. subsidiary of Johnson & Johnson (NYSE:JNJ) exclusive rights in the U.S. The product is marketed in the EU and Canada.