Mediwound, Vericel fall on FDA clearance delay for burns treatment

Vericel

05/05/2021 18:34

** U.S-listed shares of Israel-based biotech co Mediwound
 MDWD.O  down 3.8% at $4.5, while Vericel Corp  VCEL.O  down
2.85 to $57.5
    ** MDWD's U.S. commercial partner, Vericel says backlog at
the FDA due to COVID-19 is delaying the clearance for MDWD's
lede product, NexoBrid, for treating severe burns  urn:newsml:reuters.com:*:nGNX4kxxZH
    ** U.S. FDA had assigned target date of June 29 for making a
decision
    ** A deferral outcome is worse because it does not specify a
date which leaves the possibility that clearance of NexoBrid
could linger - BTIG 
    ** MDWD is up 21.4% YTD, while VCEL is up 88% so far this
year

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))