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Carmat jumps after first implantation of its bioprosthetic artificial heart

Written by: | no-reply@reuters.com | Dated: Tuesday, August 30th, 2016

 

Carmat’s shares jumped on Tuesday after the French company announced the first implantation of its bioprosthetic artificial heart in a final-stage clinical trial.

Shares rose as much as 10 percent in early trading in Paris and were up 6.1 percent at 37 euros at 1034 GMT.

Carmat said on Monday the implantation of its bioprosthetic artificial heart was carried out with the approval of the French national agency for safety of medicines and health products and the country’s patient protection committee.

It added that it would not publish “specific information concerning the implantations of each patient involved in the study or their condition.”

The company, whose first shareholders included planemaker Airbus and private equity fund Truffle Capital, has not generated any significant revenue but is closely followed by investors as heart diseases represent a leading cause of death worldwide and its devices could represent a major medical breakthrough if proven reliable.

Carmat’s shares have lost 9.8 percent so far this year, valuing the company at about 207 million euros ($230 million). It reported a net loss of 17.5 million euros in 2015.

 

(Reporting by Mathieu Rosemain; Editing by Mark Potter)

Source: Reuters Health

http://www.reuters.com/article/us-carmat-france-idUSKCN115196

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