MediWound price target raised to $63 from $9 at Oppenheimer

Oppenheimer analyst Francois Brisebois raised the firm’s price target on MediWound to $63 from $9 to reflect the 1:7 reverse stock split, while keeping an Outperform rating on the shares. The analyst notes the company reported "encouraging" progress in its NexoBrid global expansion and positive data from its Phase 1/2 open-label study for Basal Cell Carcinoma. In particular, Brisebois is "pleased to see" market approval gained in India and Switzerland, with anticipated launch in France in Q3 2023. Moreover, he views the recent positive data from MW005 Phase 1/2 demonstrating safety and tolerability, as well as efficacy as a real positive, as it supports the earlier POC IIT trial. The analyst still looks forward to NexoBrid’s target PDUFA, potential Japan approval by year-end 2022 and the EscharEx pivotal Phase 3 start in the first half of 2023.