SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C.  20549
______________________
 
FORM 6-K/A
 
REPORT OF FOREIGN PRIVATE ISSUER
 
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
 
For the month of October 2020
 
Commission File Number: 001-36349
 
MediWound Ltd.

(Translation of registrant’s name into English)
 
42 Hayarkon Street
Yavne, 8122745 Israel
 (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
 
Form 20-F ☒          Form 40-F ☐
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): 
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): 
 

EXPLANATORY NOTE
 
On August 6, 2020, MediWound Ltd. (the “Company”) furnished its interim results for the six months ended June 30, 2020 (the “Interim Results”) on a Report on Form 6-K (the “Form 6-K”).  This amendment (the “Amendment”) is being furnished solely to incorporate by reference Exhibits 99.1., 101.INS, 101.SCH, 101.CAL, 101.LAB and 101.PRE herein into the Company’s Registration Statement on Form F-3 (Registration No. 333-230490).  There are no other changes to the Form 6-K.

EXHIBIT INDEX

Exhibit
Description
   
101.INS                        
XBRL Instance Document
101.SCH                      
XBRL Taxonomy Extension Schema Document
101.CAL                      
XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB                      
XBRL Taxonomy Extension Label Linkbase Document
101.PRE                       
XBRL Taxonomy Extension Presentation Linkbase Document

2


SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
MEDIWOUND LTD.

 
Date: October 30, 2020
By:
/s/ Boaz Gur-Lavie
 
 
Name:
Boaz Gur-Lavie
 
 
Title:
Chief Financial Officer
 

3

Exhibit 99.1

MEDIWOUND LTD. AND ITS SUBSIDIARIES

INTERIM CONDENSED FINANCIAL STATEMENTS

AS OF JUNE 30, 2020

IN U.S. DOLLARS IN THOUSANDS

UNAUDITED

INDEX

 
Page
   
   
F-2
   
F-3
   
F-4 – F-6
   
F-7 – F-8
   
F-9 – F-10

- - - - - - - - - - - - -


MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands

   
June 30,
   
December 31,
 
   
2020
   
2019
   
2019
 
   
Unaudited
   
Audited
 
CURRENT ASSETS:
                 
Cash and cash equivalents
   
12,612
     
24,667
     
7,242
 
Restricted deposits
   
179
     
175
     
180
 
Short‑term bank deposits
   
11,591
     
13,870
     
22,036
 
Trade receivables
   
2,764
     
570
     
4,107
 
Inventories
   
1,934
     
1,535
     
1,613
 
Other receivables
   
728
     
4,098
     
450
 
                         
     
29,808
     
44,915
     
35,628
 
LONG‑TERM ASSETS:
                       
Property, plant and equipment, net
   
2,326
     
2,183
     
2,304
 
Right of-use assets, net
   
2,086
     
2,315
     
2,229
 
Intangible assets, net
   
396
     
462
     
429
 
                         
     
4,808
     
4,960
     
4,962
 
                         
     
34,616
     
49,875
     
40,590
 
CURRENT LIABILITIES:
                       
Current maturities of long-term liabilities
   
1,321
     
896
     
569
 
Trade payables and accrued expenses
   
2,423
     
3,993
     
4,067
 
Other payables
   
6,040
     
5,969
     
5,737
 
                         
     
9,784
     
10,858
     
10,373
 
LONG‑TERM LIABILITIES:
                       
Deferred  revenues
   
1,174
     
1,144
     
1,135
 
 Liability in respect of IIA grants
   
7,130
     
6,919
     
6,811
 
Contingent consideration for purchase of shares
   
4,249
     
4,412
     
4,853
 
Liability in respect of discontinued operation
   
-
     
6,003
     
-
 
Lease liabilities
   
1,866
     
2,022
     
2,006
 
Severance pay liabilities, net
   
281
     
338
     
243
 
                         
     
14,700
     
20,838
     
15,048
 
SHAREHOLDERS' EQUITY:
                       
Ordinary shares of NIS 0.01 par value:
                       
Authorized: 50,000,000 shares as of June 30, 2020, December 31, 2019 and  37,244,508 shares as of June 30, 2019; Issued and Outstanding: 27,211,128 as of June 30, 2020, 27,202,795 as of  December  31, 2019 and 27,178,839 as of June 30, 2019
   
75
     
75
     
75
 
Share premium
   
141,390
     
140,236
     
140,871
 
Foreign currency translation adjustments
   
(16
)
   
(23
)
   
(17
)
Accumulated deficit
   
(131,317
)
   
(122,109
)
   
(125,760
)
                         
     
10,132
     
18,179
     
15,169
 
                         
     
34,616
     
49,875
     
40,590
 

The accompanying notes are an integral part of the interim financial statements.

F - 2

MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
U.S. dollars in thousands (except share data and per share data)

   
Six months ended
June 30,
   
Three months ended
June 30,
   
Year ended
December 31,
 
   
2020
   
2019
   
2020
   
2019
   
2019
 
   
Unaudited
   
Audited
 
Revenues from sale of products
   
1,662
     
1,309
     
1,015
     
895
     
3,393
 
Revenues from development services
   
6,631
     
2,301
     
2,922
     
2,301
     
10,678
 
Revenues from license agreements
   
172
     
17,597
     
90
     
17,550
     
17,718
 
Total revenues
   
8,465
     
21,207
     
4,027
     
20,746
     
31,789
 
                                         
Cost of revenues
   
6,018
     
3,520
     
2,810
     
3,481
     
11,849
 
                                         
Gross profit
   
2,447
     
17,687
     
1,217
     
17,265
     
19,940
 
                                         
Research and development, gross
   
3,312
     
6,343
     
1,593
     
1,893
     
10,070
 
Participations by BARDA and IIA
   
19
     
(4,624
)
   
19
     
(1,721
)
   
(5,101
)
Research and development, net of participations
   
3,331
     
1,719
     
1,612
     
172
     
4,969
 
Selling and marketing
   
1,683
     
2,134
     
859
     
1,101
     
4,064
 
General and administrative
   
2,345
     
2,574
     
1,452
     
1,242
     
5,242
 
Other expenses
   
-
     
901
     
-
     
812
     
1,172
 
Total operating expenses
   
7,359
     
7,328
     
3,923
     
3,327
     
15,447
 
                                         
Operating profit (loss)
   
(4,912
)
   
10,359
     
(2,706
)
   
13,938
     
4,493
 
                                         
Financial income
   
323
     
153
     
101
     
92
     
556
 
Financial expense
   
(968
)
   
(1,956
)
   
(491
)
   
(1,314
)
   
(2,983
)
                                         
Profit (loss) from continuing operation
   
(5,557
)
   
8,556
     
(3,096
)
   
12,716
     
2,066
 
Profit from discontinued operation
   
-
     
50
     
-
     
-
     
2,889
 
Net Profit (loss)
   
(5,557
)
   
8,606
     
(3,096
)
   
12,716
     
4,955
 
Other comprehensive income (loss):
                                       
                                         
Foreign currency translation adjustments
   
1
     
2
     
(7
)
   
(2
)
   
8
 
                                         
Total comprehensive income (loss)
   
(5,556
)
   
8,608
     
(3,103
)
   
12,714
     
4,963
 
                                         
Basic and diluted net profit (loss) per share from continuing operations
   
(0.20
)
   
0.32
     
(0.11
)
   
0.47
     
0.08
 
Basic and diluted net profit (loss) per share from discontinued operations
   
-
     
(*
)
   
-
     
-
     
0.10
 
Total Basic and diluted net profit (loss) per share
   
(0.20
)
   
0.32
     
(0.11
)
   
0.47
     
0.18
 

(*)          Represents less than $ 1.

The accompanying notes are an integral part of the interim consolidated financial statements.

F - 3

MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
U.S. dollars in thousands

   
Share capital
   
Share premium
   
Foreign currency translation reserve
   
Accumulated
deficit
   
Total
Equity
 
                               
Balance as of December 31, 2019
   
75
     
140,871
     
(17
)
   
(125,760
)
   
15,169
 
                                         
Loss for the period
   
-
     
-
     
-
     
(5,557
)
   
(5,557
)
Other comprehensive income
   
-
     
-
     
1
     
-
     
1
 
Total comprehensive loss
   
-
     
-
     
1
     
(5,557
)
   
(5,556
)
                                         
Share-based compensation
   
-
     
519
     
-
     
-
     
519
 
                                         
Balance as of  June 30, 2020 (unaudited)
   
75
     
141,390
     
(16
)
   
(131,317
)
   
10,132
 

   
Share capital
   
Share premium
   
Foreign currency translation reserve
   
Accumulated
deficit
   
Total
Equity
 
                               
Balance as of December 31, 2018
   
75
     
139,637
     
(25
)
   
(130,715
)
   
8,972
 
                                         
Profit for the period
   
-
     
-
     
-
     
8,606
     
8,606
 
Other comprehensive income
   
-
     
-
     
2
     
-
     
2
 
Total comprehensive income
   
-
     
-
     
2
     
8,606
     
8,608
 
                                         
Share-based compensation
   
-
     
599
     
-
     
-
     
599
 
                                         
Balance as of  June 30, 2019 (unaudited)
   
75
     
140,236
     
(23
)
   
(122,109
)
   
18,179
 

The accompanying notes are an integral part of the interim consolidated financial statements.

F - 4

MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
U.S. dollars in thousands

   
Share capital
   
Share premium
   
Foreign currency translation reserve
   
Accumulated
deficit
   
Total
Equity
 
                               
Balance as of April 1, 2020
   
75
     
141,044
     
(9
)
   
(128,221
)
   
12,889
 
                                         
Loss for the period
   
-
     
-
     
-
     
(3,096
)
   
(3,096
)
Other comprehensive loss
   
-
     
-
     
(7
)
   
-
     
(7
)
Total comprehensive loss
   
-
     
-
     
(7
)
   
(3,096
)
   
(3,103
)
                                         
Share-based compensation
   
-
     
346
     
-
     
-
     
346
 
                                         
Balance as of  June 30, 2020 (unaudited)
   
75
     
141,390
     
(16
)
   
(131,317
)
   
10,132
 

   
Share capital
   
Share premium
   
Foreign currency translation reserve
   
Accumulated
deficit
   
Total
Equity
 
                               
Balance as of April 1, 2019
   
75
     
139,912
     
(21
)
   
(134,825
)
   
5,141
 
                                         
Profit for the period
   
-
     
-
     
-
     
12,716
     
12,716
 
Other comprehensive loss
   
-
     
-
     
(2
)
   
-
     
(2
)
Total comprehensive income
   
-
     
-
     
(2
)
   
12,716
     
12,714
 
                                         
Share-based compensation
   
-
     
324
     
-
     
-
     
324
 
                                         
Balance as of  June 30, 2019 (unaudited)
   
75
     
140,236
     
(23
)
   
(122,109
)
   
18,179
 

The accompanying notes are an integral part of the interim consolidated financial statements.

F - 5

MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
U.S. dollars in thousands

   
Share capital
   
Share premium
   
Foreign currency translation reserve
   
Accumulated
deficit
   
Total
Equity
 
                               
Balance as of December 31, 2018
   
75
     
139,637
     
(25
)
   
(130,715
)
   
8,972
 
                                         
Profit for the period
   
-
     
-
     
-
     
4,955
     
4,955
 
Other comprehensive income
   
-
     
-
     
8
     
-
     
8
 
Total comprehensive income
   
-
     
-
     
8
     
4,955
     
4,963
 
Exercise of options
   
(*
)
   
-
     
-
     
-
     
(*
)
Share-based compensation
   
-
     
1,234
     
-
     
-
     
1,234
 
                                         
Balance as of December 31, 2019
   
75
     
140,871
     
(17
)
   
(125,760
)
   
15,169
 

(*)          Represents less than $ 1.

The accompanying notes are an integral part of the interim consolidated financial statements.

F - 6

MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands

   
Six months ended
June 30,
   
Three months ended
June 30,
   
Year ended December 31,
 
   
2020
   
2019
   
2020
   
2019
   
2019
 
   
Unaudited
   
Audited
 
Cash flows from operating activities:
                             
Net Profit (loss)
   
(5,557
)
   
8,606
     
(3,096
)
   
12,716
     
4,955
 
                                         
Adjustments to reconcile net profit (loss) to net cash provided by (used in) continuing operating activities:
                                       
                                         
Adjustments to profit and loss items:
                                       
Profit from discontinued operation
   
-
     
(50
)
   
-
     
-
     
(2,889
)
Depreciation and amortization
   
539
     
552
     
271
     
278
     
1,149
 
Share-based compensation
   
519
     
599
     
346
     
324
     
1,234
 
Revaluation of liability in respect of IIA grants
   
424
     
(392
)
   
226
     
(466
)
   
(392
)
Revaluation of contingent consideration for the purchase of shares
   
348
     
1,322
     
196
     
1,081
     
1,690
 
Revaluation of lease liabilities
   
64
     
194
     
100
     
91
     
340
 
Increase (decrease) in severance pay liabilities, net
   
40
     
(10
)
   
19
     
13
     
(105
)
Net financing income
   
(191
)
   
(149
)
   
(81
)
   
(87
)
   
(434
)
Un-realized foreign currency (gain) loss
   
28
     
(70
)
   
(51
)
   
60
     
(152
)
                                         
     
1,771
     
1,996
     
1,026
     
1,294
     
441
 
Changes in asset and liability items:
                                       
Decrease (increase) in trade receivables
   
1,341
     
(9
)
   
444
     
(318
)
   
(3,553
)
Decrease (increase) in inventories
   
(326
)
   
146
     
65
     
(62
)
   
67
 
Decrease (increase) in other receivables
   
(284
)
   
2,744
     
(383
)
   
2,482
     
6,376
 
Increase (decrease) in trade payables and accrued expenses
   
(1,649
)
   
1,277
     
(1,004
)
   
1,058
     
1,355
 
Increase in other payables and deferred revenues
   
86
     
609
     
133
     
95
     
247
 
                                         
     
(832
)
   
4,767
     
(745
)
   
3,255
     
4,492
 
                                         
Net cash provided by (used in) continuing operating activities
   
(4,618
)
   
15,369
     
(2,815
)
   
17,265
     
9,888
 
Net cash provided by (used in) discontinued operating activities
   
-
     
50
     
-
     
-
     
(1,599
)
Net cash provided by (used in) operating activities
   
(4,618
)
   
15,419
     
(2,815
)
   
17,265
     
8,289
 

The accompanying notes are an integral part of the interim consolidated financial statements.

F - 7

MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands

   
Six months ended
June 30,
   
Three months ended
June 30,
   
Year ended December 31,
 
     2020    
2019
     2020    
2019
   
2019
 
   
Unaudited
   
Audited
 
                               
Cash Flows from Investing Activities:
                             
                               
Purchase of property and equipment
   
(244
)
   
(433
)
   
(100
)
   
(194
)
   
(792
)
Interest received
   
42
     
44
     
39
     
14
     
184
 
Proceeds from (investment in) short term bank deposits, net
   
10,595
     
2,977
     
7,603
     
412
     
(5,050
)
                                         
Net cash provided by (used in) continuing investing activities
   
10,393
     
2,588
     
7,542
     
232
     
(5,658
)
                                         
Net cash used in discontinued investing activities
   
-
     
-
     
-
     
-
     
(1,239
)
                                         
Net cash provided by (used in) investing activities
   
10,393
     
2,588
     
7,542
     
232
     
(6,897
)
                                         
Cash Flows from Financing Activities:
                                       
                                         
Repayment of leases liabilities
   
(313
)
   
(312
)
   
(153
)
   
(157
)
   
(630
)
Proceeds from exercise of options
   
-
     
-
     
-
     
-
     
(*
)
Proceeds of IIA grant, net of repayments
   
(66
)
   
193
     
-
     
248
     
(376
)
                                         
Net cash (used in) provided by financing activities
   
(379
)
   
(119
)
   
(153
)
   
91
     
(1,006
)
                                         
Exchange rate differences on cash and cash equivalent balances
   
(26
)
   
63
     
57
     
(55
)
   
140
 
                                         
Cash and cash equivalents:
                                       
                                         
Increase in cash and cash equivalents from continuing activities
   
5,370
     
17,901
     
4,631
     
17,533
     
3,364
 
Increase (decrease) in cash and cash equivalents from discontinued activities
   
-
     
50
     
-
     
-
     
(2,838
)
                                         
Balance of cash and cash equivalents at the beginning of the period
   
7,242
     
6,716
     
7,981
     
7,134
     
6,716
 
                                         
Balance of cash and cash equivalents at the end of the period
   
12,612
     
24,667
     
12,612
     
24,667
     
7,242
 

(*)          Represents less than $ 1.

The accompanying notes are an integral part of the interim consolidated financial statements.

F - 8

MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
U.S. dollars in thousands

NOTE 1:
GENERAL


a.
General description of the Company and its operations:

MediWound Ltd. (the "Company" or "MediWound"), is a fully-integrated biopharmaceutical company bringing innovative therapies to address unmet medical needs in severe burn and wound management, The Company's first innovative biopharmaceutical product, NexoBrid, received marketing authorization from the European Medicines Agency ("EMA") as well as the Israeli, Argentinean, South-Korean, Russian and Peruvian Ministries of Health, for removal of dead or damaged tissue, known as eschar, in adults with deep partial and full thickness thermal burns. The Company sells NexoBrid in Europe and in Israel through its commercial organizations and in other territories through local distributers. In 2019, the Company entered into exclusive license and supply agreements with Vericel Corporation (“Vericel”) to commercialize NexoBrid in North America.

The Company second investigational innovative product, EscharEx, is a topical biological drug being developed for debridement of chronic and other hard-to-heal wounds.


b.
The Company's securities are listed for trading on NASDAQ since March 2014.


c.
The Company has two wholly owned subsidiaries: MediWound Germany GmbH, acting as Europe (“EU”) marketing authorization holder and EU sales and marketing arm and MediWound UK Limited, an inactive company. In addition, the Company owns approximately 10% of PolyHeal Ltd., a private life sciences company ("PolyHeal").


d.
The Company awarded two contracts with the U.S. Biomedical Advanced Research and Development Authority ("BARDA"), for the advancement of the development and manufacturing, as well as the procurement of NexoBrid, as a medical countermeasure as part of BARDA preparedness for mass casualty events.

On March 3, 2020 BARDA has expanded its awarded contract with MediWound providing supplemental funding of $5.5 million to support emergency readiness for NexoBrid deployment.

NOTE 2:
SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in the financial statements for all periods presented unless otherwise stated.


a.
Basis of presentation of financial statements:

These financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB").

F - 9

MEDIWOUND LTD. AND ITS SUBSIDIARIES
 
NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
U.S. dollars in thousands

NOTE 2:
SIGNIFICANT ACCOUNTING POLICIES-Cont.


b.
Basis of preparation of the interim consolidated financial statements:

The interim condensed consolidated financial statements for the three months ended June 30, 2020 have been prepared in accordance with IAS 34 "Interim Financial Reporting".

The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Company's annual financial statements as of December 31, 2019 that were included in the Annual Report on Form 20-F filed on February 25, 2020.

The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Company’s annual consolidated financial statements for the year ended December 31, 2019 that were included in the Annual Report on Form 20-F filed on February 25, 2020, except than the change discussed below.

c.
Reclassification:

Certain amounts previously reported in the consolidated financial statements have been reclassified to conform to current year presentation. Such reclassifications did not affect net loss, shareholders’ equity or cash flows.

NOTE 3:          EQUITY

On April 23, 2020, the Company's Board of Directors approved the grant of 1,274,379 options to purchase ordinary shares, for an exercise price of $ 1.75 per share, to its employees, officers and members of the board. The fair value of the options, as of the grant date, was estimated at $1.8 million.

On June 29, 2020, the general meeting of the Company approved the abovementioned grants related the CEO and members of the board which were estimated at approximately $1.4 million.

******

F - 10