MediWound's EscharEx Trial Progress Slows as NexoBrid Gains Government Backing
Event summary
- EscharEx Phase III VALUE trial enrollment progressing slower than anticipated, with interim assessment and completion expected by Q1 2027.
- First quarter 2026 revenue of $1.5 million, down from $4.0 million in Q1 2025 due to timing of BARDA-related revenues and regional conflict.
- NexoBrid gains momentum with a $197 million BARDA contract and expanding U.S. adoption.
- MediWound reaffirms full-year 2026 revenue guidance of $24-26 million.
- Cash reserves decreased to $45 million as of March 31, 2026, from $54 million at the end of 2025.
The big picture
MediWound's strategic focus on enzymatic therapeutics for tissue repair faces a critical juncture with the slower-than-expected progress of its EscharEx trial, while NexoBrid gains traction through government contracts and expanding market adoption. The company's ability to balance these dynamics will be key to sustaining its growth trajectory in the competitive wound care and burn treatment markets.
What we're watching
- Trial Execution
- Whether MediWound can accelerate EscharEx Phase III enrollment to meet the revised timeline.
- Revenue Growth
- The impact of the BARDA contract on NexoBrid's revenue contribution in the second half of 2026.
- Regulatory Approval
- The pace at which MediWound implements EMA-recommended modifications to bring expanded NexoBrid manufacturing capacity online.
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