Carmat hits all-time low after it completes $11.5 mln capital increase

Carmat SA

30/09/2024 08:55

** Shares in Carmat  ALCAR.PA  fall more than 10% after the
French artificial heart maker completed a capital increase of
10.3 mln euros ($11.5 mln)
    ** The group says this extends its cash position until the
beginning of 2025
    ** "This is only a short-term relief as the company still
needs c. EUR 36m to bridge the gap over the next 12-months,"
Degroof Petercam says, though it calls the news reassuring
    ** The broker cuts its PT by 27% to 6.2 euros
    ** The shares touch their lowest price ever at 1.40 euro per
share
    ** Carmat lowered its 2024 sales forecast to 8-12 million
euros in early September, citing reduced surgical activity in
Europe this summer

($1 = 0.8957 euros)

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))