Business
MediWound Reports Fourth Quarter and Full-Year 2019 Financial Results
Generated total full-year 2019 revenues of $31.8 million, driven primarily by Vericel license payment and development services to BARDA Initiated U.S. Phase 2
About this update from Mediwound Ltd.
[{"type":"text","content":"Generated total full-year 2019 revenues of $31.8 million, driven primarily by Vericel license payment and development services to BARDA\n Initiated U.S. Phase 2 adaptive design study of EscharEx for the treatment of venous leg ulcers BARDA initiated the procurement of NexoBrid valued at $16.5 million for emergency response Conference call begins today at 8:30 a.m. Eastern Time YAVNE, Israel, Feb. 25, 2020 (GLOBE NEWSWIRE) -- MediWound Ltd. (Nasdaq: MDWD), a fully-integrated biopharmaceutical company bringing innovative therapies to address unmet medical needs in severe burn and wound management, today announced financial results for the fourth quarter and full-year ended December 31, 2019. Fourth Quarter and Full-Year 2019 Financial Highlights: Total revenues of $31.8 million for the full-year 2019. Total revenues of $5.4 million for the fourth quarter of 2019, an increase of $4.4 million from the $1.0 million of fourth quarter of 2018, driven primarily by revenues from development services. The Company had $29.5 million in cash and short-term investments as of December 31, 2019. Fourth Quarter and Full-Year 2019 Business Highlights: Announced positive top-line results from the pivotal U.S. Phase 3 DETECT study in NexoBrid for eschar removal of severe thermal burns. The safety data of cosmesis and function collected in the twelve-month patient follow-up period, was comparable across all study arms, and no new safety signals were observed.Entered into exclusive license and supply agreements with Vericel Corporation in May to commercialize NexoBrid in North America for an upfront payment of $17.5 million, sales royalties, and up to $132.5 million in potential milestones.Initiated the NexoBrid Expanded Access Treatment protocol (NEXT) to treat burn patients with deep partial and full-thickness burns in the U.S. during the ongoing preparation and review of the NexoBrid Biologics License Application (BLA).Initiated a U.S. Phase 2 adaptive design clinical study of EscharEx, the Company’s topical biologic drug candidate designed to enzymatically debride chronic wounds, for the treatment of venous leg ulcers (VLUs).The U.S. Biomedical Advanced Research and Development Authority (BARDA) initiated the procurement of NexoBrid for emergency response, valued at $16.5 million.Continued global expansion of NexoBrid through new distribution agr...