The chart below shows how MDWD performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MDWD sees a +3.33% change in stock price 10 days leading up to the earnings, and a +4.48% change 10 days following the report. On the earnings day itself, the stock moves by -1.33%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
FDA Approval Milestone: This quarter, we reached a significant milestone with FDA approval on NexoBrid for pediatric use in the United States, expanding its label to cover patients from newborn to 18 years old with deep partial thickness and full thickness thermal burns.
Capacity-Constrained Revenue Performance: Commercial revenue of NexoBrid has met expectations limited only by our existing capacity constraints.
NexoBrid Commercialization Progress: In the United States, NexoBrid continues to make substantial progress, thanks to Vericel's dedicated commercialization efforts.
Manufacturing Facility Expansion: We have also completed construction of our state-of-the-art GMP-compliant manufacturing facility, which is expected to reach full operational capacity by the end of 2025 and to increase our manufacturing output six-fold.
Private Investment Secured: We secured $25 million through a private investment led by Molnlycke Health Care, which provides not only critical funding but also access to Molnlycke's extensive commercial expertise and regulatory insights.
Negative
Third Quarter Revenue Decline: Revenue for the third quarter of 2024 totaled $4.4 million compared to $4.8 million in the same period of 2023, indicating a decrease driven primarily by lower revenue from BARDA Development Services.
Gross Profit Decline: Gross profit for the quarter was $0.7 million, representing 16% of total revenue, compared to $0.9 million or 19% of total revenue in Q3 2023, reflecting a decline in revenue mix.
Increased R&D Spending: R&D expenses were $2.5 million in Q3 2024, up from $1.5 million in the same period last year, indicating increased spending as the company ramps up activity for its pivotal EscharEx Phase III clinical trial.
Increased Operating Losses: Operating loss for the first nine months of 2024 was $13.3 million, compared to $11.4 million in the same period of 2023, showing an increase in losses year-over-year.
Increased Net Loss: Net loss for the first nine months came in at $26.3 million, or $2.72 per share, compared to a net loss of $5 million, or $0.56 per share, in the same period of 2023, highlighting a significant increase in losses.
MediWound Ltd. (MDWD) Q3 2024 Earnings Call Transcript
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