Anteris Technologies Prices 34.78M Share Offering at $5.75, Raising $200M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: NASDAQ.COM
- Fundraising Scale: Anteris Technologies priced its public offering of 34.78 million shares at $5.75 each, raising approximately $200 million before fees, indicating strong market demand for its medical technology.
- Private Placement Arrangement: The company agreed to sell up to $90 million of stock to Medtronic through a wholly owned subsidiary at the public offering price, ensuring a stable source of funding.
- Use of Proceeds: The funds will support ongoing recruitment and execution of the DurAVR Transcatheter Heart Valve global pivotal PARADIGM trial and expansion of manufacturing capabilities, highlighting the company's commitment to clinical development.
- Market Reaction: Anteris Technologies' stock surged 32.92% to AUD 9.69 on the Australian Securities Exchange, reflecting investor optimism regarding the company's future growth potential.
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.
