Dans l’attente de l’implantation du 4ème patient - ACHAT - OC 101€ (vs 124€)
La société présentait hier des résultats S1 15 sans surprise avec une position de trésorerie qui ressort à 10,1m€. Nous sommes toujours dans l’attente de l’implantation du 4ème et dernier patient de l’essai de faisabilité qui pourrait avoir lieu dans ces prochaines semaines. Face aux manques de visibilités sur le calendrier d’inclusion, nous décalons d’un an les résultats de l’étude pivot à courant 2017 pour un marquage CE début 2018 et un lancement sur le marché européen dans la foulée. Cette mesure de précaution impacte la valorisation de -11€/action. Nous conservons néanmoins notre opinion à ACHAT avec un objectif de cours abaissé à 101€ vs 112€ précédemment.Carmat is focused on the research and development of an innovative product in the medical sector, developing an orthotopic and biocompatible artificial heart which is completely implantable, as well as its electrical power supply system and remote diagnosis system. Co. is developing a long-term therapeutic solution for patients who suffer from advanced bi-ventricular heart failure and who are not eligible for cardiac transplantation and who have exhausted all drug possibilties. Co. is still in the phase of research and development and thus do not generate any revenues.
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