Trading of CARMAT shares suspended, starting July 30, 2025, before stock market opening, ahead of the deadline of July 31, 2025 for submitting takeover or investment offers
Regulatory News:
CARMAT (FR0010907956, ALCAR), designer and developer of the world's most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure (the "Company" or "CARMAT"), today provides an update on its situation and the ongoing receivership procedure and announces the suspension of trading in CARMAT shares, starting July 30, 2025, before stock market opening, ahead of the deadline of July 31, 2025 for submitting takeover or investment offers, set by the judiciary administrator.
Update on Company's operations and cash runway
Given its limited financial resources, the Company has, since the beginning of the observation period on July 1, 2025, reduced its activities to focus on the one hand on supporting patients already implanted with its Aeson® artificial heart, and on the other hand, on regulatory and operational activities deemed key in view of resuming operations in the best possible way once its financial sustainability has been secured, i.e. obtaining CE marking under "MDR" regulation, maintaining infrastructures, particularly for manufacturing, pursuing Aeson® enhancements with a view to releasing a product version suitable for long-term patient support by the end of 2025, and preparing for the publication of the EFICAS clinical study results at the end of the year.
In this context of uncertainty, all new Aeson® implants, whether for commercial purposes or as part of clinical trials are suspended during the months of July and August 2025.
As a result of the above, the Company's cash runway has been extended until the end of August 2025.
Update on the ongoing receivership procedure
On July 3, 2025, CARMAT had announced the initiation of a call for public tenders (buyers or investors) as part of the receivership procedure opened on July 1, 2025 by the Versailles Economic Affairs Court (the "Court"). The deadline for submitting offers (the "Offers") is July 31, 2025.
The next Court hearing is scheduled on August 19, 2025. Should Offers be received by the judiciary administrator, they would be examined by the Court at this hearing.
Suspension of CARMAT shares trading (ISIN code: FR0010907956, Ticker: ALCAR)
Ahead of the deadline for submitting Offers, i.e., July 31, 2025, CARMAT has asked Euronext to suspend the trading of its shares starting on Wednesday, July 30, 2025, before the stock market opens.
The Company anticipates this suspension to be lifted once the outcome of the Offers' submission process is known and communicated to the market.
Press releases will be issued regularly as the Company's situation evolves and the proceedings progress.
About CARMAT
CARMAT is a French MedTech that designs, manufactures and markets the Aeson artificial heart. The Company's ambition is to make Aeson the first alternative to a heart transplant, and thus provide a therapeutic solution to people suffering from end-stage biventricular heart failure, who are facing a well-known shortfall in available human grafts. The world's first physiological artificial heart that is highly hemocompatible, pulsatile and self-regulated, Aeson could save, every year, the lives of thousands of patients waiting for a heart transplant. The device offers patients quality of life and mobility thanks to its ergonomic and portable external power supply system that is continuously connected to the implanted prosthesis. Aeson is commercially available as a bridge to transplant in the European Union and other countries that recognize CE marking. Aeson is also currently being assessed within the framework of an Early Feasibility Study (EFS) in the United States. Founded in 2008, CARMAT is based in the Paris region, with its head offices located in Vélizy-Villacoublay and its production site in Bois-d'Arcy. The Company can rely on the talent and expertise of a multidisciplinary team of circa 200 highly specialized people. CARMAT is listed on the Euronext Growth market in Paris (Ticker: ALCAR ISIN code: FR0010907956).
For more information, please go to www.carmatsa.com and follow us on LinkedIn.
Name: CARMAT
ISIN code: FR0010907956
Ticker: ALCAR
Disclaimer
This press release and the information it contains do not constitute an offer to sell or subscribe, nor a solicitation of an offer to buy or subscribe, for CARMAT shares in any country.
This press release may contain forward-looking statements regarding the Company's objectives and outlook. These forward-looking statements are based on the current estimates and anticipations of the Company's management and are subject to risk factors and uncertainties, including those described in its Universal Registration Document filed with the French Financial Markets Authority (Autorité des marchés financiers) (the "AMF") under number D.25-0345 (the "2024 Universal Registration Document"), available free of charge on the websites of CARMAT (www.carmatsa.com/en/) and the AMF (www.amf-france.org).
Readers' attention is particularly drawn to the fact that the Company is currently placed in receivership (opened on July 1, 2025) and is facing a very high risk of default, including in the very short term. The Company is also exposed to other risks and uncertainties, such as its ability to implement its strategy, the pace of development of its production and sales, the progress and results of ongoing or planned clinical trials, technological developments, the competitive landscape, regulatory changes, industrial risks, and all risks related to the management of the Company's growth. Forward-looking statements mentioned in this press release may not be achieved due to these factors or other unknown risks and uncertainties, or risks that the Company does not currently consider to be material or specific.
Aeson® is an active implantable medical device commercially available in the European Union and other countries recognising the CE mark. The Aeson® total artificial heart is intended to replace the ventricles of the native heart and is indicated as a bridge to transplant in patients with end-stage biventricular heart failure (Intermacs classes 1-4) who cannot benefit from maximal medical therapy or a left ventricular assist device (LVAD) and who are likely to benefit from a heart transplant within 180 days of implantation. The decision to implant and the surgical procedure must be carried out by healthcare professionals trained by the manufacturer. The documentation (clinician's manual, patient's manual and alarm booklet) must be read carefully to learn about the characteristics of Aeson® and the information required for patient selection and proper use (contraindications, precautions, side effects) of Aeson®. In the United States, Aeson® is currently only available as part of a feasibility clinical trial approved by the Food Drug Administration (FDA).
View source version on businesswire.com: https://www.businesswire.com/news/home/20250729270059/en/
Contacts:
CARMAT
Stéphane Piat
Chief Executive Officer
Pascale d'Arbonneau
Deputy Chief Executive Officer Chief Financial Officer
Tel.: +33 1 39 45 64 50
contact@carmatsas.com
NewCap
Press Relations
Nicolas Merigeau
Arthur Rouillé
Tel.: +33 1 44 71 94 98
carmat@newcap.eu
NewCap
Financial Communication Investor Relations
Dusan Oresansky
Jérémy Digel
Tel.: +33 1 44 71 94 92
carmat@newcap.eu
