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.€131.6m
Last close€22.20
High / Low (52 weeks)€39.9 / €22.0
Stock market listingAL
Forecast net cash (€m)4.8
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(9.4617)(16.258)(41.1297)
Relative *(11.9351)(19.5338)(51.0638)

* % Relative to local index

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Company news

Carmat SA (ALCAR) Declined -1.07% on Oct 17

Tue, 17 Oct 2017 09:56:15 GMT

Carmat SA (ALCAR) Declined -1.81% on Oct 2

Mon, 02 Oct 2017 13:30:00 GMT

Carmat SA (ALCAR) Soared 0.38% on Sep 22

Fri, 22 Sep 2017 10:30:00 GMT

Carmat Implants Artificial Heart in a Second Patient

Mon, 08 Sep 2014 11:35:53 GMT

Carmat SA (ALCAR) Rise 5.53% on Oct 7

Sat, 07 Oct 2017 12:45:00 GMT

Investment summary

Carmat obtained approval in May 2017 from the French regulatory agency (ANSM) to resume its pivotal trial for the Carmat heart. This follows a favourable review by ANSM of the actions and analyses taken by Carmat following the trial’s suspension after the death in Q416 of this trial’s first patient six weeks after his implantation. Carmat is now working to expand access in the 20-25-patient study to other European countries, and is preparing a new and more automated production site. Given the firm’s year-end 2016 net cash position of €28.0m, we estimate Carmat can finance operations into Q218.

Last updated on 03/10/2017

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 (19.4) (20.6) (381.32) N/A N/A
2016A 0.3 (24.1) (25.7) (379.73) N/A N/A
2017E 0.0 (22.0) (22.1) (367.12) N/A N/A
2018E 0.0 (24.7) (26.3) (435.57) N/A N/A

Last updated on 14/09/2017

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 03/10/2017

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