viewMediWound Ltd

MediWound enrolls in Phase 3 study for burn treatment, analysts reiterate Buy rating

Oppenheimer analysts are bullish on the niche therapeutics company, seeing potential for its drug to take off in the US

Wrapped burn
Its drug NexoBrid removes dead tissue resulting from a severe burn

MediWound Ltd (NASDAQ:MDWD), an Israel-based biopharma, announced that it has completed its enrollment in a Phase 3 study for its drug NexoBrid in the US.

NexoBrid is a topical drug that is used to remove eschar, or dead tissue resulting from a burn.

The niche company specializes in developing therapeutics to treat conditions related to severe burns and chronic or slow-to-heal wounds.

“We are happy to achieve this important milestone of completing the enrollment in NexoBrid Phase 3 study, which is one of the most comprehensive randomized controlled studies ever conducted in burn care, and we believe it will support our Biological License Application (BLA) submission to the FDA,” said CEO Gal Cohen in a press release.

Oppenheimer analysts saw potential in the US market for the burn treatment and reiterated a Buy rating with a price target of US$14.

While the drug has gained traction in European burn centers, the process has been slow. Analysts are hopeful that the process in the US may go faster if the drug receives approval.

“Our bullish position on MDWD is based on our belief that the US Phase 3 trial (DETECT) is relatively de-risked, and that if approved, NexoBrid is well positioned to gain uptake by physicians/burn specialists for debridement of necrotic tissue,” the analysts wrote in a note.

The analysts believe the company has the funds to develop the drug in the US, citing its US$33mln in cash in the first quarter of 2018.

Top-line data from the study is expected by the end of 2018.

Shares of the biopharma were up more than 3% to US$6.85 in Tuesday afternoon trading.

Quick facts: MediWound Ltd

Price: 3.1 USD

Market: NASDAQ
Market Cap: $84.25 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Buds & Duds: Ontario's cannabis retail expansion plan gives cannabis stocks...

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was 1.4% higher at 116.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF jumped 2.4% at C$9.55, while the OTCQX Cannabis index gained 0.6% to 434 points. Buds today are The Green...

12 hours, 22 minutes ago

2 min read