Mediwound (MDWD) AI Stock Analysis

• Market Cap: $218.38M
• Dividend Yield: N/A
• Average Volume (3M): 83.89K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.14
• Revenue Growth: 6.15%
• EPS Growth: 34.52%
• Country: US
• Employees: 111
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.56
• Shares Outstanding: 12,845,664
• 10 Day Avg. Volume: 97,082
• 30 Day Avg. Volume: 83,890
• PEG Ratio: 0.29
• Price to Book (P/B): 4.81
• Price to Sales (P/S): 12.38
• P/FCF Ratio: -10.48
• Enterprise Value/Market Cap: 0.86
• Enterprise Value/Revenue: 11.10
• Enterprise Value/Gross Profit: 57.87
• Enterprise Value/Ebitda: -12.93
• 1Y Price Target: $30.00
• Price Target Upside: 76.47% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): -2.71
• Revenue Forecast (FY): $24.78M

• Rating: 47 Neutral
• Price Target: $17.00 ▲(0.00% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is held down primarily by weak financial performance (shrinking/volatile revenue, large losses, and sustained negative free cash flow) and a technically weak price trend (below key moving averages with negative MACD). The earnings call provides a partial offset via reaffirmed multiyear guidance, manufacturing expansion and trial progress, but execution, funding, and regulatory timing risks remain meaningful; valuation is also constrained by ongoing losses and no dividend yield data.

Positive Factors

Manufacturing Capacity Expansion

A sixfold increase in NexoBrid production capacity materially reduces supply constraints and supports larger commercial rolls and government stockpiling. Durable manufacturing scale improves the company's ability to meet multi-year demand and supports margin gains as utilization rises.

Late‑stage Clinical Progress (EscharEx)

Active enrollment in a global Phase III VALUE trial with a prespecified interim assessment de‑risks EscharEx development. A successful pivotal outcome would create a durable new product revenue stream and enable expansion into chronic wound indications over the next several years.

Strengthened Cash Position & Financing

A year‑end cash balance (~$53.6M) plus a $30M direct offering meaningfully extends runway to fund Phase III enrollment, commercial scale‑up and manufacturing validation. The stronger liquidity profile reduces near‑term funding pressure for the next several quarters.

Negative Factors

Persistent Negative Cash Generation

Operating cash flow has been negative annually and FCF was ~-20M in 2025, signaling persistent cash burn. Continued negative cash generation requires recurring external financing, increasing dilution risk and limiting long‑term strategic flexibility if cash conversion does not improve.

Volatile, Shrinking Revenue and Weak Margins

Revenue declined (~16–19% in 2025) after prior volatility, with gross margins compressed from ~46% in 2022 to ~9–13% in 2024–25 and net margins deeply negative. This indicates limited commercial scale and an unsustainable cost structure absent material demand or mix improvement.

Concentration on Government Awards & Pending Approvals

Revenue and commercialization plans rely on continued BARDA/DoD support and regulatory clearance for the new manufacturing site. This concentration creates timing and execution risk: delays or award changes can materially shift revenue recognition and commercialization pacing.

Mediwound Business Overview & Revenue Model

Company Description

MediWound Ltd., a biopharmaceutical company, develops, manufactures, and commercializes novel and bio-therapeutic solutions for tissue repair and regeneration. It markets NexoBrid, a biopharmaceutical product for the removal of eschar, a dead or damaged tissue in adults with deep partial- and full-thickness thermal burns to burn centers and hospitals burn units. The company also develops EscharEx, which has completed Phase II clinical trials for the debridement of chronic and other hard-to-heal wounds; MW005, which is in phase I/II for the treatment of low-risk basal cell carcinoma. MediWound Ltd. was founded in 2000 and is headquartered in Yavne, Israel.

How the Company Makes Money

Mediwound generates revenue primarily through the sale of its medical products, most notably NexoBrid. The company sells its products directly to hospitals and healthcare facilities, often through partnerships with distributors and medical supply companies. Additionally, Mediwound may enter into licensing agreements or collaborations with larger pharmaceutical companies that can help enhance its market reach. The company also explores government and institutional contracts, which can provide significant revenue opportunities. Furthermore, Mediwound has been actively involved in clinical trials and research initiatives, which can lead to future product developments and expansions into new markets, thereby contributing to its overall revenue growth.

Mediwound Financial Statement Overview

Summary

Overall fundamentals are weak: revenue has been volatile and declined in 2025, profitability is deeply negative with large losses relative to sales, and both operating cash flow and free cash flow are consistently negative. Balance-sheet leverage appears manageable and equity has improved versus 2021, but ongoing losses and cash burn remain the dominant risk.

Income Statement

Revenue has been volatile and is shrinking most recently (2025 down ~19% after a small increase in 2024). Profitability is weak: gross margin is low in 2024–2025 (~9%–13%) versus a stronger 2022 level (~46%), and losses are very large relative to sales (net margin roughly -140% to -150% in 2024–2025). Operating results remain deeply negative, with EBIT and EBITDA consistently below zero across all years shown, indicating the business has not yet reached a sustainable cost structure.

Balance Sheet

Leverage looks manageable with debt-to-equity around ~0.20 in 2023–2025, suggesting debt is not the primary balance-sheet risk. Equity has improved materially versus 2021 (when equity was negative), reaching ~43.6M in 2025, which supports solvency. The key weakness is ongoing losses driving poor returns for shareholders (return on equity remains meaningfully negative in 2022–2025), which can pressure the balance sheet over time if cash burn continues.

Cash Flow

Cash generation is a clear weak point: operating cash flow is negative every year shown, and free cash flow is also consistently negative, including about -20.0M in 2025. While 2025 free cash flow improved versus 2024 (positive growth off a negative base), the company is still funding operations externally. A relative positive is that free cash flow is generally less negative than net income (free cash flow to net income above 1), implying significant non-cash charges, but the underlying cash burn remains substantial.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.96M	20.22M	18.69M	26.50M	23.76M
Gross Profit	2.13M	1.78M	2.95M	12.32M	8.14M
EBITDA	-23.57M	-28.12M	-4.89M	-18.09M	-12.12M
Net Income	-23.88M	-30.22M	-6.72M	-19.60M	-13.55M
Balance Sheet
Total Assets	86.25M	73.50M	66.46M	50.02M	19.74M
Cash, Cash Equivalents and Short-Term Investments	53.14M	43.16M	41.54M	33.90M	11.05M
Total Debt	8.77M	6.93M	6.35M	846.00K	1.39M
Total Liabilities	34.33M	42.34M	34.86M	39.10M	24.33M
Stockholders Equity	43.63M	31.15M	31.59M	10.91M	-4.58M
Cash Flow
Free Cash Flow	-20.04M	-19.90M	-16.93M	-12.44M	-9.40M
Operating Cash Flow	-14.53M	-13.62M	-10.46M	-11.88M	-8.92M
Investing Cash Flow	-19.54M	-8.40M	-34.32M	-481.00K	3.55M
Financing Cash Flow	29.62M	19.39M	22.92M	35.76M	-1.05M

Mediwound Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 17.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDWD, the sentiment is Negative. The current price of 17 is below the 20-day moving average (MA) of 17.34, below the 50-day MA of 17.55, and below the 200-day MA of 18.36, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 45.74 is Neutral, neither overbought nor oversold. The STOCH value of 66.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MDWD.

Mediwound Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DSGN	57 Neutral	$635.22M	-7.71	-32.72%	―	―	-40.26%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
LCTX	48 Neutral	$373.63M	-6.05	-130.99%	―	24.05%	-169.73%
MDWD	47 Neutral	$218.38M	-8.79	-65.79%	―	6.15%	34.52%
ELDN	44 Neutral	$225.25M	-2.86	-85.31%	―	―	72.35%
TVGN	41 Neutral	$21.58M	-6.72	389.21%	―	―	-234.46%

Mediwound Corporate Events

MediWound Posts 2025 Loss but Strengthens Cash and Advances EscharEx, NexoBrid Capacity

On March 5, 2026, MediWound reported fourth‑quarter and full‑year 2025 results, highlighting $17 million in 2025 revenue, a net loss of $23.9 million, and a year‑end cash balance of $53.6 million strengthened by a $30 million direct offering and warrant exercises. The company’s operating loss widened on higher R&D spending, mainly for the Phase III VALUE trial of EscharEx, while full‑year gross margin improved on a more favorable revenue mix.

Operationally, MediWound said its global Phase III VALUE trial of EscharEx in venous leg ulcers is progressing, with interim assessment and enrollment completion expected by the end of 2026 and expansion into diabetic foot and pressure ulcer studies planned for the second half of 2026. The company also brought an expanded NexoBrid manufacturing facility online, boosting capacity sixfold ahead of expected 2026 regulatory approvals, reaffirmed its 2026–2028 revenue guidance, and pointed to growing U.S. NexoBrid adoption as it positions for a new phase of commercial scale‑up.

The most recent analyst rating on (MDWD) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Mediwound stock, see the MDWD Stock Forecast page.

MediWound Shareholders Approve Expansion of 2024 Equity Incentive Pool

On February 19, 2026, MediWound Ltd. held an extraordinary general meeting in Israel at which shareholders representing about 30% of the company’s 12.8 million outstanding ordinary shares as of the January 16, 2026 record date were present, constituting a lawful quorum. The meeting focused on a single proposal to expand the company’s 2024 Share Incentive Plan, signaling continued use of equity-based compensation to retain and motivate key personnel.

Shareholders approved an increase of 300,000 ordinary shares reserved for issuance under the 2024 Share Incentive Plan, with 90.9% of votes cast in favor and 9.1% against, excluding abstentions, in accordance with Israeli Companies Law. The vote strengthens MediWound’s ability to grant future equity awards, potentially diluting existing holdings modestly while reinforcing long-term alignment between management, employees, and investors.

The most recent analyst rating on (MDWD) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Mediwound stock, see the MDWD Stock Forecast page.

MediWound Calls February 19, 2026 Extraordinary Meeting to Expand 2024 Share Incentive Plan

On January 15, 2026, MediWound Ltd. filed materials for an extraordinary general meeting of shareholders scheduled for February 19, 2026 in New York, at which investors will be asked to approve an increase of 300,000 ordinary shares reserved for issuance under the company’s 2024 Share Incentive Plan. Shareholders of record as of the close of business on January 16, 2026 are entitled to vote, and the board of directors is unanimously backing the proposal, which, if approved, would expand the pool of shares available for equity compensation and could modestly dilute existing holders while strengthening MediWound’s ability to attract and retain key personnel.

The most recent analyst rating on (MDWD) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on Mediwound stock, see the MDWD Stock Forecast page.

MediWound Lays Out Growth Path With EscharEx Progress, NexoBrid Scale-Up and Strong Cash Position

On January 12, 2026, MediWound issued a corporate and financial update ahead of the J.P. Morgan Healthcare Conference, detailing clinical, operational and financial milestones achieved through 2025 and its outlook for the coming years. The company reported that its global Phase III VALUE trial of EscharEx in venous leg ulcers is progressing, with interim assessment and full enrollment of 216 patients across roughly 40 U.S. and European sites expected by year-end 2026, and plans to extend the program into diabetic foot ulcers via a Phase II trial and into pressure ulcers via an investigator-initiated study during 2026, supported by collaborations with several major wound care companies. MediWound also confirmed that its expanded NexoBrid manufacturing facility is now fully operational, boosting production capacity sixfold ahead of anticipated regulatory approvals in 2026, and said it expects discussions among Vericel, BARDA and U.S. authorities on a potential multi-year NexoBrid program, including stockpiling and new formulations, to move forward in early 2026. Financially, the company reported $17 million in 2025 revenue and a $54 million year-end 2025 cash position with no debt, and updated its revenue guidance to $24–26 million for 2026, $32–35 million for 2027, and $50–55 million for 2028, implying a step-up in long-term growth driven by NexoBrid capacity expansion, continued BARDA and U.S. Department of Defense support, and an expected initial revenue contribution from EscharEx later in the decade.

The most recent analyst rating on (MDWD) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Mediwound stock, see the MDWD Stock Forecast page.