MDWD MediWound Ltd.
Price Chart
Executive Summary
MediWound reported Q1 2026 revenue of $1.5M (down 63% YoY from $4.0M) and a GAAP net loss of $0.23 per share (vs. -$0.07 a year ago), both well below consensus estimates of $3.4M revenue and -$0.66 EPS. The company reaffirmed full-year 2026 revenue guidance of $24-26M, implying a sharp ramp in H2, but the Q1 miss and slow EscharEx enrollment raise execution risk.
Key Financial Metrics
Actionable Insight
The Q1 revenue miss and slow EscharEx enrollment are the headline negatives, but the EPS beat on warrant revaluation is non-operational noise. The stock's reaction will hinge on credibility of the $24-26M guidance — if H2 BARDA procurement and manufacturing approvals slip, the cash runway ($45M) could become a concern. Watch for 6-K filings on EMA manufacturing facility status and any EscharEx enrollment updates.
Key Facts
- Q1 2026 revenue of $1.5M missed consensus of $3.4M by ~56% and declined 63% YoY from $4.0M
- GAAP net loss of $0.23 per share vs. consensus -$0.66 (beat on EPS due to $5.0M financial income from warrant revaluation, not operations)
- Operating loss widened to $8.0M from $5.2M YoY; R&D spend surged to $5.2M (from $2.9M) on EscharEx Phase III trial costs
- Cash burn of $9.6M in operating cash flow; cash and deposits fell to $45M from $54M at year-end 2025
- Full-year 2026 revenue guidance reaffirmed at $24-26M, implying ~$22-24M in H2 2026 — a massive sequential ramp dependent on BARDA procurement and manufacturing approvals
- EscharEx Phase III VALUE enrollment slower than anticipated; interim assessment and enrollment completion pushed to Q1 2027
- NexoBrid BARDA contract ($197M over 10 years) awarded to partner Vericel; initial procurement expected H2 2026
- EMA pre-audit of expanded manufacturing facility identified modifications; regulatory approval timeline uncertain
Financial Impact
Q1 revenue miss of ~$1.9M vs consensus; net loss of $3.0M vs. consensus $7.1M loss (beat on non-operating financial income); full-year guidance implies ~16-17x Q1 run-rate in H2
Risk Factors
- Full-year guidance dependent on H2 government procurement and manufacturing regulatory approvals — both uncertain
- EscharEx Phase III enrollment delays could push pivotal data readout beyond Q1 2027, extending cash burn period
- Cash burn rate of ~$9.6M/quarter implies ~4.7 quarters of runway without additional financing or milestone payments
- Revenue concentration on BARDA/NexoBrid government contracts creates lumpy revenue profile
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3301772 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 2, 2026
7d ago
|
Insider Cluster
| $13.76 $13.73 | ▼ −0.22% | ▲ +0.48% | $14.21 (+3.27%) |
|
May 27, 2026
13d ago
|
Press Release
| $14.33 $14.56 | ▼ −1.60% | ▼ −1.05% | $14.21 (+0.84%) |
|
May 7, 2026
4w ago
|
Press Release
| $17.27 $16.57 | ▼ −4.05% | ▼ −4.88% | $14.21 (−17.72%) |
|
Mar 30, 2026
10w ago
|
6-K
| $16.11 $16.20 | ▲ +0.56% | ▼ −0.19% | $14.21 (−11.79%) |
|
Mar 5, 2026
13w ago
|
Press Release
| $17.03 $17.49 | ▲ +2.70% | ▲ +1.85% | $14.21 (−16.56%) |
|
Mar 5, 2026
13w ago
|
Press Release
| $17.45 $17.03 | ▲ +2.41% | ▲ +1.09% | $14.21 (+18.57%) |
US Market Status
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