Anika Therapeutics: Undervalued Biotech with Steady Loss Reductions and Moderate Growth Prospects

Anika Therapeutics (ANIK) is unprofitable but has steadily reduced losses at 6.5% per year for the past five years. Revenue is forecast to grow at 4.7%, trailing the US market's projected growth of 10.5%. Shares trade at a significant discount to estimated fair value, with valuation metrics favoring industry peers. Investors are cautious, awaiting proof of commercialization milestones and profitability.