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Mediwound
(NASDAQ:MDWD)
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Rating:46Neutral
Price Target:
$13.50
▼(-5.13% Downside)
Action:Reiterated
Date:08/18/26
The score is held down primarily by weak financial performance (declining revenue, low margins, ongoing losses, and sustained cash burn) and bearish technical signals (price below key moving averages with negative MACD and weak RSI). The latest earnings call provides partial support via reaffirmed 2026 guidance and government/MSA-linked catalysts, but near-term execution, funding, and manufacturing timeline risks remain material; valuation is also constrained by ongoing losses (negative P/E).
Positive Factors
EscharEx Phase III progress
Advancing the pivotal VALUE trial creates a credible path toward a second commercial product in chronic wound care. Successful execution could broaden MediWound beyond burns, diversify revenue, and support a larger long-term addressable market.
Negative Factors
Declining revenue and weak margins
Sharp revenue contraction and persistent margin compression show that current commercial scale is insufficient to absorb the cost base. Reliance on timing-sensitive program revenue makes results less predictable until product demand and mix improve.
Read all positive and negative factors
Positive Factors
Negative Factors
EscharEx Phase III progress
Advancing the pivotal VALUE trial creates a credible path toward a second commercial product in chronic wound care. Successful execution could broaden MediWound beyond burns, diversify revenue, and support a larger long-term addressable market.
Read all positive factors
Mediwound (MDWD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$175.21M
Dividend YieldN/A
Average Volume (3M)83.89K
Price to Earnings (P/E)―
Beta (1Y)0.94
Revenue Growth-40.26%
EPS Growth39.18%
CountryUS
Employees121
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.60
Shares Outstanding12,845,664
10 Day Avg. Volume97,082
30 Day Avg. Volume83,890
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)4.81
Price to Sales (P/S)12.38
P/FCF Ratio-10.48
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$28.60Price Target Upside100.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-2.2
Revenue Forecast (FY)$23.67M
Mediwound Business Overview & Revenue Model
Company Description
MediWound Ltd., a biopharmaceutical company, develops, manufactures, and commercializes novel, bio-therapeutic, and non-surgical solutions for tissue repair and regeneration in the United States, Germany, Italy, Spain, and internationally. The com...
How the Company Makes Money
MediWound makes money primarily through sales and distribution of its approved product NexoBrid, with revenue generated from commercial supply to partners and/or customers in regions where it is marketed. The company has also historically generate...
Mediwound Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Neutral
The call presented meaningful strategic and operational milestones — advancing EscharEx Phase III enrollment, an expanded $1.05B U.S. market assessment, a new MSA with Vericel tied to BARDA funding, government-sponsored next-generation NexoBrid programs, and strengthened U.S. commercial signals for NexoBrid. However, the company reported sharp year-over-year revenue declines (Q2 down ~45.6%, H1 down ~52.6%), substantial margin compression, rising R&D and operating losses, a notable cash decline to $36M and $20M H1 cash burn, and ongoing manufacturing capacity constraints with regulatory-tied timelines. Overall, positives around pipeline progress and government-backed programs are balanced by near-term financial weakness and execution/timing risks.Positive Updates
Progress on EscharEx Phase III (VALUE) Trial
Active enrollment ongoing in global Phase III VLU trial targeting 216 patients across ~40 sites (U.S., Europe, Israel); two key milestones (prespecified interim sample size reassessment and completion of enrollment) expected by end of Q1 2027. Company emphasizes VALUE as top priority and key long-term value driver.
Negative Updates
Sharp Revenue Decline Year-over-Year
Q2 2026 revenue was $3.1M versus $5.7M in Q2 2025, a decline of ~45.6%. First half 2026 revenue was $4.6M versus $9.7M in H1 2025, a decline of ~52.6%, primarily reflecting timing of BARDA-funded development revenue.
Read all updates
Q2-2026 Updates
Positive
Negative
Progress on EscharEx Phase III (VALUE) Trial
Active enrollment ongoing in global Phase III VLU trial targeting 216 patients across ~40 sites (U.S., Europe, Israel); two key milestones (prespecified interim sample size reassessment and completion of enrollment) expected by end of Q1 2027. Company emphasizes VALUE as top priority and key long-term value driver.
Read all positive updates
Company Guidance
MediWound reaffirmed full‑year 2026 revenue guidance of $24–$26 million, saying revenue will be weighted to H2 2026 as it begins recognizing MSA/Vericel and other government‑funded program contributions (Vericel’s BARDA award is up to $197 million with ~ $6 million BARDA procurement revenue expected in H2; a Department of War–funded room‑temperature NexoBrid program has an $18.3 million budget). Key clinical and program milestones include the EscharEx VALU Phase III (216 patients across ~40 sites) with a prespecified interim sample‑size reassessment and enrollment completion both expected by end‑Q1 2027, an investigator‑initiated pressure‑ulcer study (10–15 patients) and a DFU Phase II randomized 50‑patient (1:1) study both planned to start in Q4 2026. Manufacturing and regulatory timing: EMA‑requested facility modifications to be completed Q4 2026, with commercial supply from the expanded facility expected in H2 2027. Recent financials: Q2 revenue $3.1M (Q2 2025 $5.7M), Q2 gross profit $0.3M (10.9% margin) vs $1.3M (23.5%), Q2 R&D $5.9M, Q2 SG&A $3.9M, Q2 operating loss $9.5M, Q2 net loss $7.4M ($0.57/sh); H1 revenue $4.6M, H1 adjusted EBITDA loss $15.3M, cash ~$36M as of June 2026 after $20M H1 cash burn (plus $0.8M from warrants/options in H1 and $1.1M post‑quarter).Mediwound Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.86M | 16.96M | 20.22M | 18.69M | 26.50M | 23.76M |
| Gross Profit | 1.83M | 3.25M | 2.63M | 3.58M | 13.16M | 8.77M |
| EBITDA | -19.00M | -21.47M | -27.93M | -4.80M | -18.25M | -11.38M |
| Net Income | -20.18M | -23.88M | -30.22M | -6.72M | -19.60M | -13.55M |
Balance Sheet | ||||||
| Total Assets | 71.88M | 86.25M | 73.50M | 66.46M | 50.02M | 19.74M |
| Cash, Cash Equivalents and Short-Term Investments | 35.34M | 53.14M | 43.16M | 41.54M | 33.90M | 11.05M |
| Total Debt | 9.54M | 8.15M | 6.93M | 6.35M | 846.00K | 1.39M |
| Total Liabilities | 27.45M | 42.62M | 42.34M | 34.86M | 39.10M | 24.33M |
| Stockholders Equity | 35.64M | 43.63M | 31.15M | 31.59M | 10.91M | -4.58M |
Cash Flow | ||||||
| Free Cash Flow | -28.39M | -20.04M | -19.90M | -16.93M | -12.44M | -9.40M |
| Operating Cash Flow | -22.00M | -14.53M | -13.62M | -10.46M | -11.88M | -8.92M |
| Investing Cash Flow | -4.28M | -19.54M | -8.40M | -34.32M | -481.00K | 3.55M |
| Financing Cash Flow | 29.41M | 29.62M | 19.39M | 22.92M | 35.76M | -1.05M |
Mediwound Technical Analysis
Negative
14.23
Price Trends
14.30
Negative
15.32
Negative
16.59
Negative
Market Momentum
-0.25
Positive
40.11
Neutral
16.16
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDWD, the sentiment is Negative. The current price of 14.23 is above the 20-day moving average (MA) of 14.09, below the 50-day MA of 14.30, and below the 200-day MA of 16.59, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 40.11 is Neutral, neither overbought nor oversold. The STOCH value of 16.16 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MDWD.
Mediwound Risk Analysis
Mediwound disclosed 58 risk factors in its most recent earnings report. Mediwound reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Mediwound Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $194.96M | -1.54 | -87.05% | ― | ― | -29.66% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $161.60M | -1.44 | -938.20% | ― | 159.29% | -7.39% | |
47 Neutral | $80.40M | -2.87 | -444.44% | ― | 106.21% | 79.84% | |
46 Neutral | $175.21M | -8.49 | -67.22% | ― | -40.26% | 39.18% | |
45 Neutral | $354.99M | -8.59 | 21.48% | ― | ― | 33.25% | |
45 Neutral | $93.51M | -4.08 | -53.14% | ― | ― | 54.84% |
* Healthcare Sector Average
MDWD
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Mediwound Corporate Events
MediWound Q2 2026 Results Highlight EscharEx Trial Progress and New NexoBrid BARDA Agreement
Aug 13, 2026
On August 13, 2026, MediWound reported second-quarter 2026 results, highlighting continued progress in its key programs EscharEx and NexoBrid alongside a wider operating loss. The Phase III VALUE trial of EscharEx in venous leg ulcers is enrolling...
MediWound Q1 2026 Results Highlight EscharEx Trial Progress and BARDA Boost for NexoBrid
May 27, 2026
On May 27, 2026, MediWound reported first-quarter 2026 revenue of $1.5 million, down from $4.0 million a year earlier, mainly due to BARDA revenue timing and conflict-related shipment delays, while reaffirming full-year revenue guidance of $24 mil...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.