Anteris Technologies (AVR) Announces $200 Million Capital Raise, Shares Surge 52.17%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: Benzinga
- Capital Raise Announcement: Anteris Technologies has announced a $200 million public offering, resulting in a 52.17% surge in after-hours trading to $8.75, reflecting strong market confidence in its capital raising strategy.
- Strategic Investment: The company has agreed to sell up to $90 million in common stock to Medtronic through a private placement, which is expected to bolster its capital base and support future growth initiatives.
- Use of Proceeds: The funds raised will support the global pivotal trial for the DurAVR transcatheter heart valve aimed at improving treatment for patients with severe aortic stenosis, while also expanding manufacturing capacity and advancing v2vmedtech, inc.
- Market Performance: Anteris has a market capitalization of $236.89 million, and despite a 2.21% decline in stock price over the past 12 months, the current price is approaching its 52-week high, indicating investor optimism about its future prospects.
Analyst Views on AVR
Wall Street analysts forecast AVR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AVR is 19.00 USD with a low forecast of 15.00 USD and a high forecast of 22.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 5.110
Low
15.00
Averages
19.00
High
22.00
Current: 5.110
Low
15.00
Averages
19.00
High
22.00
No data
About AVR
Anteris Technologies Global Corp. is a structural heart company, which is engaged in providing cardiac care by science-driven and measurable advancements to restore heart valve patients to healthy function. Its lead asset, the DurAVR Transcatheter Heart Valve System (THV) consists of a single-piece, biomimetic valve made with its ADAPT tissue-enhancing technology and deployed with its ComASUR balloon-expandable delivery system. DurAVR THV is a novel transcatheter aortic valve for the treatment of aortic stenosis that is shaped to mimic the performance of a healthy human aortic valve. DurAVR THV’s single-piece design mimics the native anatomy of a human aortic valve, as compared to traditional three-piece aortic valves. The Company’s ADAPT is its proprietary anti-calcification tissue shaping technology that is designed to reengineer xenograft tissue into a pure, single-piece collagen bioscaffold. Its ComASUR delivery system is a physician-developed balloon expandable delivery system.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
