Carmat hits all-time low on warning it could run out of cash

Carmat SA

26/09/2023 09:04

** Shares in Carmat  ALCAR.PA  plummet 37.5% to 4.6 euros 
after the French artificial heart maker said on Monday it would
miss its full-year sales target amid supply issues and warned it
could run out of cash by the end of October
    ** While Carmat did not specify the potential miss, the
forecast points to FY sales of between 4.6 million and 6.6
million euros ($4.87 million-$6.98 million), against the target
of 10 million-13 million euros announced in February
    ** The company also said it is actively looking for options
for securing cash beyond October 2023
    ** "If the company is unable to secure the funds it needs,
it may not be able to pay its debts and realize its assets in
the normal course of its business," Carmat said in a release
    ** The stock is headed for worst day ever as the shares hit
an all-time low of 3.6 euros

($1 = 0.9452 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))