Carmat rises after 'encouraging' H1 update

Carmat SA

09/07/2024 09:04

** Shares in Carmat  ALCAR.PA  rise nearly 5% after the
French artificial heart maker's H1 update shows commercial
progress
    ** It reports sales of 3.2 million euros ($3.46 million) and
says it realised 20 implants in H1, doubling its pace to four
hearts per month in Q2 from two hearts per month in Q1
    ** "Progress made so far in 2024 at the commercial level are
encouraging," Degroof Petercam analysts say, adding the group is
"on the right track to deliver"
    ** The broker, which rates the stock "buy", says the 2.2
million euros financing announced last week is a short-term
relief, but gives Carmat more time to show proof of growing
commercial momentum and attract additional funding
    ** The financing extended Carmat's financial visibility
until the end of September, it said last week

($1 = 0.9241 euros)

 (Reporting by Federica Mileo)
 ((Federica.mileo@thomsonreuters.com))