MediWound Ltd. (MDWD) reported its financial results for the first quarter of 2026, reflecting a revenue decline, and reaffirmed the full-year revenue guidance.
Company Profile
MediWound is a biopharmaceutical company focused on developing solutions for tissue repair and regeneration. The company markets FDA-approved NexoBird biologic for the enzymatic removal of eschar burns in patients with thermal burns. The firm is also developing EscharEx, a late-stage investigational product for the debridement of chronic wounds.
First Quarter Results
The total revenue for the first quarter of 2026 totalled $1.5 million, representing a 62.5% decrease from $4 million in the year-ago quarter. The company states that the decrease is attributable to BARDA-related revenues and postponed shipments related to the regional conflict.
MediWound reported a wider net loss of $3 million, or $0.23 per share, from a net loss of $0.7 million, or $0.07 per share, in the prior year.
Adjusted EBITDA loss expanded to $7 million this quarter, compared to a loss of $4 million in the same period last year.
As of March 31, 2026, cash, cash equivalents, and deposits totalled $45 million.
2026 Guidelines
The company reaffirmed its guidance for full-year 2026, projecting revenue growth of $24 million to $26 million, primarily supported by expected revenue from government-related development services in the second half of 2026.
MDWD has traded between $14.9 and $22.5 over the last year. Shares closed down 14.09% on Wednesday at $14.33.
Operational Milestones Ahead
Enrollment continues for the EscharEx global Phase III VALUE study in venous leg ulcers, targeting 216 patients across 40 sites in the U.S, Europe, and Israel. The pre-specified interim assessment and enrollment completion are expected by the end of the first quarter of 2027.
Medline joined the EscharEx clinical development program through a research collaboration agreement with MediWound.
Vericel was awarded a ten-year BARDA contract for NexoBird procurement at a value of up to $197 million. The procurement activity is expected to begin in the second half of 2026. MDWD is trading up 3.42% to $14.82 in the after hours market.
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