Carmat slips on FY sales guidance cut amid needs to bridge financing gap

Carmat SA

06/09/2024 10:09

** Shares in Carmat  ALCAR.PA  falls almost 4% in a wobbly
trade after it reduced its FY revenue targets
    ** The French artificial heart maker expects to generate FY
sales of between 8-12 million euros ($9-13 million) vs 14
million euros previously, based on "a better understanding of
the dynamics of market access and seasonality", it says
    ** The lower range of the guidance implies a reduction of
commercial sales to 3 million euros from 9 million euros
previously, Degroof Petercam says
    ** "Short-term focus remains of course on financing with
less than a month of cash available. We still expect that
finding the remaining EUR 45m in order to bridge the gap until
next year will not be a walk in the park," the broker adds
    ** Including Friday's fall the stock has dropped by about
65% YTD
    
($1 = 0.8999 euros)

 (Reporting by Alban Kacher)
 ((alban.kacher@thomsonreuters.com))