“Edison’s accessible and high-quality research gives us the opportunity to communicate an independent perspective of Tyman to a wide variety of potential stakeholders.”
Currency in EUR
Last close As at 26/05/2023
EUR8.61
▲ −0.08 (−0.92%)
Market capitalisation
EUR195m
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.
Healthcare
Healthcare
Healthcare
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | (2.4) | (21.8) | (17.4) |
| Relative | (7.4) | (25.3) | (27.4) |
| 52 week high/low | €14.8/€8.0 |
Carmat recently announced that it has implanted nine of its physiologic heart replacement therapies (PHRT) since July, six of which were commercial implants (under the brand name Aeson in the EU) while three were part of the early feasibility study (EFS) in the United States. These nine implants are associated with approximately €2m in product revenue, which will be booked in H221. Importantly, due to the PHRT’s profile, which features autoregulation, pulsatility and hemocompatibility, additional centres are expected to become commercially active in the coming months, which we believe should help drive revenue growth.
| Y/E Dec | Revenue (€m) | EBITDA (€m) | PBT (€m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 0.0 | N/A | (38.7) | (285.32) | N/A | N/A |
| 2021A | 2.2 | N/A | (61.9) | (402.00) | N/A | N/A |
| 2022E | N/A | N/A | N/A | N/A | N/A | N/A |
| 2023E | N/A | N/A | N/A | N/A | N/A | N/A |
Managing Director - Head of Content, Healthcare
Get access to the very latest content matched to your personal investment style.
