MediWound Ltd. (MDWD)
MediWound Ltd. is an Israel-based biopharmaceutical company specializing in the development and commercialization of innovative therapies for burned and wounded skin, including its flagship product, NexoBrid, a new biological enzyme designed for the removal of eschar in burn patients. The company's technologies focus on tissue repair, wound care, and bio-surgical solutions.
Company News
The chronic venous insufficiency market is projected to grow from $2.1 billion in 2024 to a larger market by 2034, driven by emerging therapies, medical devices, and increasing prevalence of the condition in aging populations.
MediWound reported a 43% quarterly revenue increase to $5.7 million, improved gross margins, and advanced its Phase III EscharEx trial while establishing strategic partnerships with wound care leaders.
MediWound Ltd. has received a €16.25 million grant from the European Innovation Council, which is expected to accelerate the development of its product EscharEx for Diabetic Foot Ulcers. TD Cowen has maintained a Buy rating on MediWound's stock with a $25.00 price target.
Sharps Technology shares jumped 31.7% in pre-market trading after the company announced it received two purchase orders for a total of approximately one million SecureGard syringes for 2024 delivery. Several other stocks also saw significant pre-market movements.
MediWound (MDWD) delivered earnings and revenue surprises of 2.50% and 6.82%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?