Previous Close | 4.2400 |
Open | 4.2900 |
Bid | 4.1650 x 11300 |
Ask | 4.2450 x 11100 |
Day's Range | 4.0800 - 4.3100 |
52 Week Range | 2.8850 - 9.4200 |
Volume | |
Avg. Volume | 24 |
Market Cap | 126.039M |
Beta (5Y Monthly) | 1.31 |
PE Ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings Date | N/A |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | N/A |
PARIS (Reuters) -French artificial heart maker Carmat reported full year revenue of 2.8 million euros ($3 million), missing its target after supply issues disrupted the company's production ramp-up, sending its shares down 6%. The company had warned in September that it would miss a target of full-year sales of between 10 million and 13 million euros after it reported first-half revenue of only 600,000 euros. Carmat, which survived a cash crunch in mid-October, said it would soon launch a capital increase, estimated to raise at least 50 million euros ($55 million), to ensure it had enough financing for the next 12 months.
Artificial heart maker Carmat on Monday secured a 7 million euro ($7.4 million) lifeline to survive an imminent cash crunch, but the deal left questions over future support from co-founder Airbus after the planemaker opted not to participate. The 30-year-old French medtech champion, set up by a heart surgeon and one of the planemaker's own founders, last month warned its survival was at stake after problems with its supply chain, and appealed to shareholders led by Airbus to re-invest. On Monday, Carmat said the new 7 million euro capital increase would cover its needs until the start of next year.
Carmat warned late Monday that supply issues meant it would miss its full-year sales target and it could run out of cash by the end of October, sending its shares down 27% on Tuesday. Air Liquide said in response to Reuters questions its Carmat holding is held through its Air Liquide Venture Capital (ALIAD) which was set up in 2013. "ALIAD entered the capital of Carmat in April 2014, in the frame of ALIAD strategy to develop industrial partnerships between technology companies and the Air Liquide Group, in 3 sectors: Climate tech, Healthtech and Digital," the company said.