MediWound Secures $197M BARDA Contract, Reports Q1 Revenue of $1.5M

MediWound generated $1.5 million in revenue for Q1 2026, down from $4.0 million a year ago, primarily due to timing of BARDA-related revenues and postponed shipments. Gross profit was $0.3 million (21.9% margin) on R&D expenses of $5.2 million and SG&A of $3.6 million. Operating loss was $8.0 million, net loss $3.0 million ($0.23 per share). Cash and equivalents stood at $45 million as of March 31, with $9.6 million used in operations and $0.7 million received from warrant exercises.

Enrollment continues in the global Phase III VALUE study for EscharEx in venous leg ulcers, with more than 30 active sites across the U.S., Europe, and Israel targeting 216 patients. A pre-specified interim sample size reassessment and enrollment completion are expected by end of Q1 2027. The program has added Medline alongside collaborators Coloplast/Kerecis, Convatec, Essity, Mölnlycke, Solventum, B. Braun and MIMEDX, and recent peer-reviewed publications and conference data have reinforced EscharEx’s clinical and commercial advantages over existing enzymatic debridement therapies.

Vericel was awarded a ten-year BARDA contract valued up to $197 million to support NexoBrid procurement, vendor-managed inventory, blast-trauma indication development, and manufacturing enhancements, with initial procurement slated for H2 2026. U.S. ordering centers and total orders continue to grow, and the expanded manufacturing facility remains under regulatory review following an EMA pre-audit. New consensus guidelines in Japan, the UK, Europe, and real-world data from 239 patients in the NEXT Expanded Access Program further underscore NexoBrid’s role in global burn care.