# EDGAR Filing Document

**Accession Number:** 0001727492
**File Stem:** 0000902664-25-005133
**Filing Date:** 2025-11
**Character Count:** 10410
**Document Hash:** dc6ffbc6415306488027844ce6996691
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000902664-25-005133.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0000902664-25-005133

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Anika Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0000898437
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 043145961
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-45573
- **FILM NUMBER:** 251504807

**BUSINESS ADDRESS:**
- **STREET 1:** 32 WIGGINS AVENUE
- **CITY:** BEDFORD
- **STATE:** MA
- **ZIP:** 01730
- **BUSINESS PHONE:** (781) 457-9000

**MAIL ADDRESS:**
- **STREET 1:** 32 WIGGINS AVENUE
- **CITY:** BEDFORD
- **STATE:** MA
- **ZIP:** 01730

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ANIKA THERAPEUTICS INC
- **DATE OF NAME CHANGE:** 19970114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ANIKA RESEARCH INC
- **DATE OF NAME CHANGE:** 19930309
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Caligan Partners LP
- **CENTRAL INDEX KEY:** 0001727492

**ORGANIZATION NAME:**
- **EIN:** 822603419
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE
- **STREET 2:** 30TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 718-570-6018

**MAIL ADDRESS:**
- **STREET 1:** 780 THIRD AVENUE
- **STREET 2:** 30TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 4)**

**Anika Therapeutics, Inc.**

*(Name of Issuer)*

**Common Stock, par value $0.01 per share**

*(Title of Class of Securities)*

**035255108**

*(CUSIP Number)*

**David Johnson**<br>Caligan Partners LP<br>780 Third Avenue, 30th Floor<br>New York NY 10017<br>(646) 859-8204

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**11/19/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **035255108** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Caligan Partners LP** | Name of reporting person<br>**Caligan Partners LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1435130.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1435130.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1435130.00** | Aggregate amount beneficially owned by each reporting person<br>**1435130.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.95%** | Percent of class represented by amount in Row (11)<br>**9.95%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **035255108** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**David Johnson** | Name of reporting person<br>**David Johnson** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1435130.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1435130.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1435130.00** | Aggregate amount beneficially owned by each reporting person<br>**1435130.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.95%** | Percent of class represented by amount in Row (11)<br>**9.95%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.01 per share

**(b) Name of Issuer:**
Anika Therapeutics, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
32 WIGGINS AVENUE, BEDFORD, MA, 01730

The following constitutes Amendment No. 4 ("Amendment No. 4") to the Schedule 13D filed by the undersigned on August 17, 2023 (as amended, the "Schedule 13D"). This Amendment No. 4 amends the Schedule 13D as specifically set forth herein. Capitalized terms used herein and not otherwise defined in this Amendment No. 4 have the meanings set forth in the Schedule 13D.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The first paragraph of Item 5(a) of the Schedule 13D is hereby amended and restated as follows:

See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of and percentages of the shares of Common Stock beneficially owned by each Reporting Person. The percentages set forth in this Schedule 13D are based upon 14,421,219 shares of Common Stock outstanding as of October 29, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the Securities and Exchange Commission (the "SEC") on November 5, 2025.

**(b)**
Item 5(b) of the Schedule 13D is hereby amended and restated in its entirety as follows:

See rows (7) through (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.

**(c)**
Item 5(c) of the Schedule 13D is hereby amended and restated in its entirety as follows:

No transactions in the shares of Common Stock have been effected by the Reporting Persons during the past sixty (60) days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of the Schedule 13D is hereby amended and restated in its entirety as follows:

The Caligan Fund and Caligan Accounts have entered into notional principal amount derivative agreements (the "Derivative Agreements") in the form of cash settled swaps with respect to an aggregate of 306,076 shares of Common Stock of the Issuer (collectively representing economic exposure comparable to 2.0% of the shares of Common Stock of the Issuer). The Derivative Agreements provide the Caligan Fund and Caligan Accounts with economic results that are comparable to the economic results of ownership but do not provide them or the Reporting Persons with the power to vote or direct the voting or dispose of or direct the disposition of the shares that are referenced in the Derivative Agreements (such shares, the "Subject Shares"). The Reporting Persons disclaim beneficial ownership in the Subject Shares.

Except as set forth herein, the Reporting Persons have no contracts, arrangements, understandings or relationships (legal or otherwise) with respect to any securities of the Issuer, including any class of the Issuer's securities used as a reference security, in connection with any of the following: call options, put options, security-based swaps or any other derivative securities, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Caligan Partners LP

**Signature:** /s/ David Johnson

**Name/Title:** David Johnson, Managing Partner

**Date:** 11/21/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** David Johnson

**Signature:** /s/ David Johnson

**Name/Title:** David Johnson, individually

**Date:** 11/21/2025