June 20th 2025
Paris, June 20, 2025 – 6:30 pm CEST
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 announces being in a critical financial situation and at risk of insolvency as early as the end of June 2025.
Critical financial situation and risk of insolvency at the end of June 2025
When reporting its full-year 2024 results (press release dated April 29, 2025), on April 29, 2025, the Company had indicated that it was funded until mid-June 2025 and actively working on financing options to secure, in the short term, the resources needed to continue its operations beyond that date.
Despite all its efforts, in a very challenging funding environment—particularly for small and mid-cap companies—the Company has not, to date, been able to secure such financing and will be in a situation of insolvency at the end of June 2025 unlesss it manages, before then, to secure additional cash of at least €3.5 million.
More generally, based on its current business plan, the Company estimates its 12-month financial needs at approximately €35 million, including around €20 million by end-December 2025 (broken down into €8 million by end-July, an additional €4 million by end-September, and a further €8 million by end-December 2025).
Next steps and launch of a donation campaign
CARMAT continues to actively explore all financing options to ensure business continuity beyond June 2025.
In parallel to this, the Company is today launching a donation campaign through an online platform, which is the subject of a separate press release (link to the press release).
Press releases will be issued regularly to keep shareholders and the financial community informed of any developments regarding the Company’s financial situation.