Anika Therapeutics will enter into an accelerated share repurchase program.
Here are three things to know:
1. The company plans to repurchase $25 million of its outstanding common stock.
2. Anika Therapeutics will enter into the accelerated stock repurchase agreement with Morgan Stanley & Co. pursuant to a Fixed Dollar Accelerated Share Repurchase Transaction.
3. The company expects the program will begin in late February, and it will be completed in the third quarter of 2016.