Most posts here suggest FDA approval as the event that will drive Anika stock up. In my opinion what will drive this stock up is institutional investors. Yes, institutional investors look at earnings when considering an investment. So, in my opinion this stock will begin a steady rise as profits start rolling in.
Notice that the agreement with Zimmer includes a minimum sales requirement during the 2Q98. That sales requirement is based on Canada sales. I think the recent interest is due to the imminent Canada launch by Zimmer. It is very likely that they will record some of those sales for the 1Q98. I think they could easily post earnings of 0.07/shr for 1Q98 with steady increase after that as they penetrate the Canada mkt for Orthovisc (approx $40M). Institutionla investors are therefor likely to be buying Anika pretty soon.