PARIS (Reuters) -French artificial heart maker Carmat said on Monday that it would soon launch a capital increase, estimated to raise at least 50 million euros ($54.8 million), to ensure it had enough financing for the next 12 months.
Carmat, which survived a cash crunch in mid-October, said it had generated annual revenue of 2.8 million euros.
This corresponds to the sale of 17 of its Aeson prostheses, including 11 in the last quarter of 2023, confirming it accelerated the pace of implants.
It also said it sees sales between 14 million and 20 million euros in 2024.
The company confirmed its previously announced target to increase its manufacturing capacity to 500 hearts per year from early 2024, with the opening of a second production facility in Bois-d’Arcy.
Carmat expects this year to reduce its cash burn by around 20% in comparison with the previous year.
It also confirmed its objective of reaching breakeven in 2027.
The company reiterated its target of submitting a premarket approval application to the Food And Drug Administration by the end of 2026, enabling it to start the marketing of its flagship device in the United States in 2027.
($1 = 0.9123 euros)
(Reporting by Sudip Kar-Gupta in Paris, Michal Aleksandrowicz in Gdansk; Editing by Edmund Klamann)
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