MediWound Reports Third Quarter 2024 Financial Results and Provides Company Update
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MediWound Ltd. reported its Q3 2024 financial results, highlighting the FDA approval of NexoBrid for pediatric use and plans for EscharEx's IND submission by year-end. The company secured $25 million in financing and €16.25 million in EIC funding, bolstering its cash runway to profitability. NexoBrid's product revenue met expectations, with demand exceeding capacity as a new manufacturing facility is being commissioned.
November 26, 2024 | 12:15 pm
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MediWound Ltd. received FDA approval for NexoBrid for pediatric use, secured significant financing, and reported strong demand for NexoBrid, aligning with revenue expectations.
The FDA approval for pediatric use of NexoBrid is a significant regulatory milestone, likely to boost market confidence and demand. The $25 million financing and additional EIC funding strengthen the company's financial position, supporting its path to profitability. The strong demand for NexoBrid, despite capacity constraints, indicates robust market interest, which is positive for future revenue growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100