Anika Therapeutics, Inc. — Director's Dealing 2006

Jan 26, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANIKA THERAPEUTICS INC (ANIK)
CIK: 0000898437
Period of Report: 2006-01-24

Reporting Person: MCKAY SAMUEL F (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-01-24	Stock Option (Right to Purchase)	$14.33	D	1275	Disposed	2015-04-25	Common Stock (1275)	Direct
2006-01-24	Stock Option (Right to Purchase)	$14.33	A	1275	Acquired	2015-04-25	Common Stock (1275)	Direct

Footnotes

F1: The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on April 25, 2005 and has been amended so that exercise period of the option after termination of service as a director of the Company is extended until April 15, 2015, the expiration date of the option had Mr. McKay continued to serve as a director of the Company through such date.