MediWound falls after quarterly results

Fidia SpA

16/11/2021 19:50

** U.S-listed shares of biotech company  MDWD.O  down 7.4%
at $3.15
    ** Israel-based MediWound says Q3 loss widened to $3.3 mln
from $1.9 mln a year earlier, hit by decreased revenue from
development services provided to a unit of the U.S. Department
of Health and Human Services  urn:newsml:reuters.com:*:nGNX2JyKfZ
    ** Performance also affected by higher expenses,
particularly related to the clinical development of EscharEx,
MDWD's drug for treating hard-to-heal wounds
    ** EscharEx is also being evaluated for treating venous leg
ulcers in a mid-stage study, with top-line data expected in
first quarter of 2022 
    ** Expects to resubmit marketing application for NexoBrid,
its biological product to treat burn scabs, following a meeting
with FDA
    ** "We do not view the (shares) weakness as indicative of
MDWD's progress and view the trading activity short-term in
nature," says BTIG analyst Ryan Zimmerman, maintains "buy" 
    ** Including session losses, stock down 14.86% YTD
    
    
    
    

 

 (Reporting by Oishee Majumdar in Bengaluru)
 ((oishee.majumdar@thomsonreuters.com;))