MediWound slides after $30 mln direct stock offering announced

MediWound's MDWD.O shares down 7.8% to $16.50 before the bell after co announces $30 mln equity raise

Israeli biopharma co says it sold ~1.73 mln shares directly to a U.S.-based mutual fund and other healthcare-focused investors at $17.30

Offering price represents 3.3% discount to stock's last sale of $17.89 on Fri

Co intends to use net proceeds to support pre-commercial activities for EscharEx, its topical drug being developed to remove damaged tissue from chronic and other hard-to-heal wounds

MediWound already markets FDA-approved NexoBrid, its topical medication to treat severe burns, in the U.S., EU and other international markets

H.C. Wainwright sole placement agent for the offering

With ~10.9 mln shares outstanding, co has about $195 mln market cap

Through Fri, shares up 0.5% YTD following 75% gain in 2024

All 6 analysts covering MDWD are bullish and median PT is $30.50, per LSEG