UPDATE: Credit Suisse Initiates Coverage on Mediwound Ltd. for Filling Unmet Need in Burns

In a report published Monday, Credit Suisse analyst Bruce Nudell initiated coverage on

with an Outperform rating and $18.00 price target. In the report, Credit Suisse noted, “MDWD is an Israeli therapeutics company with one approved product, NexoBrid (NXB) for severe burns, launching in Europe in 2014, with US approval expected by 2019. Nexobrid fills an unmet medical need in burns in what we see as a ~$400M market opportunity. The company is also in trials with the active ingredient in Nexobrid in the much larger chronic wound opportunity.” Mediwound Ltd. closed on Friday at $11.71.