MediWound Ltd. (NASDAQ:MDWD) found its shares stronger Monday, on the release of important numbers.
The Israeli-based MediWound, a fully-integrated biopharmaceutical company bringing innovative therapies to address unmet needs in severe burn and wound management, revealed total revenues for the full-year 2018 were $3.4 million, a 36% increase from 2017.
It also disclosed a one-time payment of $12.1 million as a result of a Settlement Agreement with Teva.
Announced positive top-line results in January 2019 from the pivotal Phase 3 DETECT study in NexoBrid for eschar removal of severe thermal burns.
Plan to file Biologics License Application (BLA) for NexoBrid in the second half of 2019.
The company was also awarded a new contract by the Biomedical Advanced Research and Development Authority (BARDA) valued at up to $43 million to develop NexoBrid for the treatment of sulfur mustard injuries.
Said CEO Gal Cohen, "We were also pleased to receive marketing authorization from the Ministries of Health in both South Korea and Russia in 2018. These approvals further validate our strategy of using the EMA approved registration file for seeking approval in additional markets."
Operating loss for the year ended December 31, 2018 was $4.0 million, down from $13.7 million in the year ended December 31, 2017.
Operating expenses in the year ended December 31, 2018 included other one-time other income of $7.5 million as a result settlement with Teva which was offset by other one-time expenses of $0.7 million associated with review and analysis of potential strategic transactions.
Shares improved 13 cents each, or 2.5%, to $5.32
