Carmat (ALCAR)

Business description

Carmat is developing a biocompatible, artificial heart to satisfy the lack of donor hearts available for terminal heart failure patients. The development process combines the expertise of a wide range of technical and medical experts.

Stock data

Market cap.€202m
Last close€22.40
High / Low (52 weeks)€31.2 / €20.8
Stock market listingEG
Forecast net cash (€m)54.5
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual6.10.9(24.4)
Relative *4.4(1.2)(34.1)

* % Relative to local index

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Company news

First artificial heart transplant done outside France

Tue, 24 Oct 2017 08:52:02 GMT

CARMAT announces the success of its capital increase for an amount of €52.9 ...

Tue, 12 Dec 2017 20:03:45 GMT

Artificial heart patient dies

Tue, 04 Mar 2014 13:26:48 GMT

Bionics: Technologies and Global Markets Report 2017 - Examine the $6.4 ...

Wed, 15 Mar 2017 09:45:00 GMT

Carmat halts all transplants of artificial hearts

Mon, 17 Mar 2014 11:02:02 GMT

Investment summary

Carmat raised €52.9m through the sale of 2.645m shares at €20.0 per share. We estimate that this should increase the firm’s cash runway into Q219, or potentially through the completion of the ongoing EU pivotal study of the Carmat heart. Our rNPV valuation is €643m, up from €627m previously. Due to increased share count, our per-share equity valuation has decreased to €77.34 (from €106.98, previously).

Last updated on 21/12/2017

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 (19.4) (20.6) (381.3) N/A N/A
2016A 0.3 (24.1) (25.7) (379.7) N/A N/A
2017E 0.0 (27.9) (29.1) (406.4) N/A N/A
2018E 0.0 (27.5) (28.4) (315.4) N/A N/A

Last updated on 21/12/2017

Latest video

Executive Interview - Carmat

Industry outlook

The Carmat artificial heart is being developed as a permanent replacement or destination therapy (DT) for chronic biventricular heart failure or acute myocardial infarction patients, who do not have access to a human donor heart. Despite the high EU and US prevalence of Stage IV heart failure (c 500,000 patients), the shortfall in donor hearts is such that only about 3,800 human heart transplants were performed in Europe and the US in 2013.

Last updated on 13/12/2017

Key management

Stéphane Piat, CEO
Piet Jansen, MD
Benoit De la Motte, CFO
Jean-Claude Cadudal, President
Patrick Coulombier, COO
Professor Alain Carpentier, CSO

Company address

36, avenue de l’Europe
CS 40533 - Immeuble l’Etendard
78941 Vélizy Villacoublay CEDEX
78941
France
+33 (0)1 39 45 64 50
View website