Q2 2024 Mediwound Ltd Earnings Call Transcript
Key Points
- Successfully completed the construction of a new state-of-the-art GMP compliant manufacturing facility for NexoBrid.
- Raised $25 million in financing, led by industry leader Monique, enhancing financial position.
- Received EUR16.25 million in funding for the expansion of EscharEx indication to include diabetic foot ulcers.
- Reported a 76% revenue growth for NexoBrid over the prior quarter, driven by increased hospital orders and patient treatments.
- Positive results from the United States NexoBrid expanded access protocol (NEXT program), reinforcing its clinical role in burn care.
- Gross profit decreased to $0.4 million, representing 9% of total revenue, compared to $1.1 million or 24% in the same period of 2023.
- Operating loss for the second quarter of 2024 was $4.5 million, compared to an operating loss of $4 million in the second quarter of 2023.
- Net loss for the quarter was $6.3 million or $0.68 per share, compared to a net profit of $0.9 million or $0.1 per share in the second quarter of 2023.
- Non-GAAP adjusted EBITDA for the second quarter of 2024 was a loss of $3.4 million, compared to a loss of $3 million in the same period of 2023.
- Cash and cash equivalents decreased to $29.7 million as of June 30, 2024, compared to $42.1 million as of December 31, 2023.
Good day, and welcome to Mediwound second quarter 2024 earnings call. Today's conference is being recorded. (Operator Instructions) At this time, I would like to turn the conference over to Gaia Shamis, of LifeSci Advisors. Please go ahead.
Thank you, Chris, and welcome, everyone. Today before the market opened, Mediwound issued a press release announcing financial results for the second quarter ended June 30, 2024. You may access that release on the company's website under the Investors tab.
With us today are Ofer Gonen, Chief Executive Officer of Mediwound; Hami Luxembourg, the Chief Financial Officer; and Barry Wolfenson, Executive Vice President of Strategy and Corporate Development. Following our prepared remarks, we will open the call for Q&A.
Before we begin, I would like to remind everyone that statements made during this call, including the Q&A session related to Mediwound expected future performance, future business prospects or future events or plans are forward-looking
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