Carmat - Carmat raises EUR52.9m and extends cash runway
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).
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