Carmat jumps on EFICAS study progress, cash flow update

Carmat SA

06/05/2024 11:44

** Shares in Carmat  ALCAR.PA  jump around 14% after the
French artificial heart maker reiterated confidence in its 2024
outlook and said it was "optimistic" about the success of its
EFICAS clinical study
    ** Group says it already completed 38% of the planned
inclusions out of a total of 52 as part of its EFICAS study
    ** "These achievements make us optimistic not only about the
completion of the EFICAS study in the first half of 2025, but
also about the growth potential of Aeson sales over the coming
months", it adds
    ** Carmat also confirms it sees sales of around 14 million
euros ($15.08 million) for 2024 and now foresees cash runway
until end of May vs. mid-May previously
    ** Degroof Petercam says that despite the lack of visibility
on the financing side, fundamentals are strong
    ** "Based on the upside to the current share price and the
potential of the Aeson artificial heart, we reiterate our Buy
rating" - Degroof Petercam 
    ** The stock has dropped by 47.24 % YTD, mostly due to
uncertainties surrounding its financing abilities
    
($1 = 0.9287 euros)

 (Reporting by Augustin Turpin)
 ((augustin.turpin@thomsonreuters.com;))