Carmat jumps as it secures cash until start of 2024

Carmat SA

16/10/2023 09:01

** Shares in Carmat  ALCAR.PA  jump 14% to 4.10 euros/share
after the French artificial heart maker said it had secured cash
until the beginning of 2024 
    ** Carmat raises 7 million euros ($7.37 million) from its
historical shareholders at a subscription price of 3.6
euros/share, matching Friday's closing price
    ** Portzamparc analyst Mohamed Kaabouni says the financing
will let Carmat finish the year
    ** "From operating standpoint, the company seems to be
gaining good momentum with 3 implanted devices in the last 3
weeks. Supply issues were resolved and it sees 30 operational
centers for commercial implants by the end of 2023," Kaabouni
says in a note
    ** Carmat confirms H2 sales target of between 4 million and
6 million euros, after posting H1 sales of 0.6 million euros in
September
    ** Portzamparc forecasts FY sales of 4.5 million euros 
    ** The stock is on track for best day since late March 2022

($1 = 0.9500 euros)

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