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Investing.com -- Mediwound Ltd (NASDAQ:MDWD) reported a smaller-than-expected loss for the fourth quarter of 2024, sending its shares up 2% in pre-open trading Wednesday. The company, which specializes in enzymatic therapeutics for tissue repair, also provided an optimistic outlook for 2025.
MediWound posted a Q4 net loss of $0.36 per share, significantly better than the analyst estimate of a $0.56 loss. Revenue for the quarter came in at $5.84 million, slightly above the consensus estimate of $5.83 million and up 9.4% from $5.3 million in the same quarter last year.
The company’s CEO, Ofer Gonen, highlighted 2024 as a "pivotal year" marked by strong execution, clinical progress, and strategic collaborations. "The initiation of the VALUE Phase III pivotal study is another major milestone, further reinforced by partnerships with industry leaders that highlight EscharEx’s clinical and commercial potential," Gonen stated.
For the full year 2024, MediWound reported revenue of $20.2 million, up from $18.7 million in 2023. The company projects revenue of $24 million for 2025, indicating continued growth expectations.
MediWound’s cash position remained strong, with $43.6 million in cash and cash equivalents as of December 31, 2024, compared to $42.1 million at the end of 2023. This solid financial foundation was bolstered by a $25 million strategic private investment led by Mölnlycke Health Care.