The following is a summary of the MediWound Ltd. (MDWD) Q4 2023 Earnings Call Transcript:

Financial Performance:

• MediWound reported full year 2023 revenue of $19 million, driven largely by sales of NexoBrid in the U.S., Japan, and India.

• Projection for the fiscal year 2024 is estimated around $24 million and the revenues are expected to hit $39 million in 2026.

• The Q1 2023 revenue was $5.3 million, a decrease from Q1 2022's $11.6 million in revenue. The primary reason was the absence of the BLA approval milestone payment from Vericel.

• The company triggered an operating loss of $3.9 million in Q1 2023, compared to an operating profit of $2.1 million in Q1 2022.

• Net loss for Q1 2023 was $1.7 million or $0.19 per share, a decrease from a net loss of $7.5 million in Q1 2022 due to a favorable adjustment from the revaluation of warrants.

Business Progress:

• A Phase III trial for EscharEx is imminent. This product targets a $2 billion market and has shown superior performance over the current market leader in Phase II studies.

• MediWound gained approval for NexoBrid for pediatric use in Europe and is under FDA review for similar approval in the U.S.

• Expanded manufacturing facilities due to a surge in demand for NexoBrid. The expansion is scheduled to complete by mid-2024.

• Research collaborations have been initiated with 3M, Mölnlycke, and MIMEDX for the upcoming EscharEx Phase III study.

• The company secured a total of $23 million in R&D funding from the U.S. Department of Defense and from BARDA for the ongoing development of NexoBrid.

• A project funded by DoD at $13 million is underway to transition the product to room temperature storage, which would simplify supply chains and administration.

• Upcoming meetings with the FDA to discuss the development path and potential commercial activities under a license agreement with Vericel.

More details: MediWound IR

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