MediWound (MDWD) Stock Forecast & Price Target

MediWound is supported by a strengthening revenue base, with 2Q26 revenue of $3.1M and 1H26 revenue of $4.6M, while management reaffirmed FY2026 guidance of $24-26M despite timing uncertainty around U.S. government contracts. The investment case is anchored by NexoBrid’s commercial recovery and a 10-year BARDA contract valued at up to $197M, alongside expanded manufacturing readiness in Israel that is still tracking toward European clearance in 2H26. Longer term, EscharEx is the main upside driver, with a larger U.S. peak-sales opportunity of $1.05B, VALUE topline expected in 2H27, and additional expansion into DFU and pressure ulcers that could broaden its addressable market materially.

MediWound is facing a negative fundamental setup because NexoBrid’s capacity constraints and EMA-requested facility modifications are delaying regulatory approval until 2H27, while at-risk production in 1H27 may only partially satisfy EU demand and earlier output has already been reclassified from commercial material to R&D. At the same time, EU reimbursement remains unfavorable for medium to severe burn wounds, limiting physician adoption and contributing to poor revenue generation and continued unprofitability despite NexoBrid’s FDA-approved orphan status. The outlook is further pressured by delayed EscharEx monetization, with initial revenues pushed into 2028, and by the risk that failure to show adequate efficacy in P3 could materially weaken the pipeline and investor confidence.