Anteris Technologies Prices Public Offering of 34.78 Million Shares at $5.75 Each, Raising Approximately $200 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5h ago
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Source: Globenewswire
- Public Offering Pricing: Anteris Technologies has priced its public offering of 34.78 million shares at $5.75 each, raising approximately $200 million, which will support the company's next growth phase, particularly in executing its clinical strategy.
- Private Placement Agreement: The company has entered into an agreement with Medtronic to sell up to $90 million in shares at the public offering price, ensuring Medtronic holds at least 16% of shares post-offering, thereby enhancing collaboration potential in the cardiac medical device sector.
- Clinical Trial Advancement: Proceeds will be used to support the global pivotal trial (PARADIGM Trial) for the DurAVR® Transcatheter Heart Valve, aimed at treating patients with severe aortic stenosis, which is expected to significantly enhance Anteris's competitiveness in the cardiac treatment market.
- Manufacturing Capacity Expansion: A portion of the proceeds will fund the expansion of manufacturing capabilities to meet increasing market demand while also providing capital for future R&D projects, further solidifying its leadership position in the structural heart disease sector.
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.
