MediWound Ltd. announced its financial results for the third quarter ended September 30, 2024, reporting a net loss of $10.3 million, or $0.98 per share. Revenue for the quarter was $4.36 million, marking an 8.8% decrease from the third quarter of 2023.
Despite the revenue dip, the company achieved a major milestone with FDA approval for NexoBrid's pediatric use in the U.S. Additionally, MediWound confirmed plans for EscharEx's IND submission by year-end 2024, with the Phase III study expected to begin shortly thereafter, targeting a $2 billion market.
As of September 30, 2024, MediWound held $46.0 million in cash, cash equivalents, and deposits, bolstered by a $25 million PIPE offering and $1.2 million from Series A warrant exercises during the first nine months of 2024. The company also secured €16.25 million in EIC funding and is advancing its manufacturing expansion to meet growing NexoBrid demand.
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