Oppenheimer analyst Francois Brisebois lowered the firm’s price target on MediWound to $36 from $63 given continued difficult market conditions, while keeping an Outperform rating on the shares. The firm notes MediWound’s Q2 top line of $4.8M beat both its estimate of $3.9M and the Street’s $4.2M. On the EscharEx front, Oppenheimer is pleased by the progress in the pivotal Phase 3 trial. On the NexoBrid front, the recent launch in Japan is encouraging, and the firm awaits India launch soon. While U.S. launch by partner Vericel is expected in Q1 2024, management reaffirmed that it expects no impact on 2023-2024 revenues.
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