PARIS, Jan 15 Reuters French artificial heart maker Carmat reported full year revenue of 2.8 million euros 3 million, missing its target after supply issues disrupted the company39;s production rampup, sending its shares down 6.

The company had warned in September that it would miss a target of fullyear sales of between 10 million and 13 million euros after it reported firsthalf revenue of only 600,000 euros.

Its secondhalf forecast had pointed to 2023 sales of between 4.6 million and 6.6 million euros.

The annual revenue corresponds to the sale of 17 of its Aeson prostheses, including 11 in the last quarter of 2023, confirming it accelerated the pace of implants.

It said it sees sales between 14 million and 20 million euros in 2024.

Carmat, which survived a cash crunch in midOctober, said it would soon launch a capital increase, estimated to raise at least 50 million euros 55 million, to ensure it had enough financing for the next 12 months.

It confirmed a target to increase its manufacturing capacity to 500 hearts per year from early 2024, with the opening of a second production facility in Boisd39;Arcy.

Carmat expects this year to reduce its cash burn by around 20 in comparison with the previous year.

It also confirmed its objective of reaching breakeven in 2027.

The company affirmed its target of submitting a premarket approval application to the Food And Drug Administration by the end of 2026, enabling it to start the marketing of its flagship device in the…