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Nautilus Biotechnology Reports Fourth Quarter and Fiscal Year 2021 Financial Results
SEATTLE, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a company pioneering a single molecule proteome
About this update from Nautilus Biotechnology, Inc.
[{"type":"text","content":"SEATTLE, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a company pioneering a single molecule proteome analysis platform, today reported financial results for the fourth quarter and fiscal year ended December 31, 2021. Fiscal Year 2021 Highlights In June, completed a business combination transaction with ARYA Sciences Acquisition Corp III and became a publicly traded company, with gross proceeds from this transaction totaling approximately $345.5 million.Announced research collaborations with top tier research partners at both Amgen, and The University of Texas MD Anderson Cancer Center.Announced a strategic partnership with Abcam for the development and supply of reagents for use on the Nautilus platform.Continued to make progress against key internal milestones across a range of platform design and science activities in support of planned platform commercialization by the end of 2023.Shared a manuscript that introduces the theoretical foundation for a fundamentally different approach to proteomics, called Protein Identification by Short-epitope Mapping (PrISM). “2021 will be remembered as a pivotal year in Nautilus’ history,” said Sujal Patel, CEO of Nautilus. “It was the year we secured the resources necessary to get us through the development and commercialization phase of our journey, signed a number of exciting research collaboration and reagent development and supply partnerships, and made substantial progress on the scientific development required to see more deeply into the proteome than anyone ever has. As we kick off the year, I am incredibly energized by Nautilus’ purpose to change the course of biomedical research and improve the lives and health of millions of people around the world.” Fiscal Year 2021 Financial Results Operating expenses were $50.5 million for the year-ended December 31, 2021, a $34.8 million or 221% increase from $15.7 million for the year ended December 31, 2020. The increase in operating expenses was driven primarily by an increase in headcount to support ongoing development of our products as well as the costs associated with being a public company. Net loss was $50.3 million for the year-ended December 31, 2021, as compared to a net loss of $15.6 million for the corresponding prior year period. Cash, cash equivalents, and investments were $362.1...