Business
Nautilus Biotechnology Reports Second Quarter 2021 Financial Results
SEATTLE, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a life sciences company creating a platform technology
About this update from Nautilus Biotechnology, Inc.
[{"type":"text","content":"SEATTLE, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a life sciences company creating a platform technology for quantifying and unlocking the complexity of the proteome, today reported financial results for the second quarter ended June 30, 2021. Recent Highlights Completed business combination transaction with ARYA Sciences Acquisition Corp III (the “Business Combination”) and became a publicly traded company on June 10, 2021, with gross proceeds from this transaction totaling approximately $345.5 million.Continued to meet key internal milestones across a range of platform design and science activities in support of a planned late-2023 platform commercialization.Appointed Emma Lundberg, Ph.D. to the Scientific Advisory Board. Dr. Lundberg, currently a professor in cell biology proteomics at KTH Royal Institute of Technology in Sweden.Appointed Karl Voss as Vice President of Life Sciences. Karl joins Nautilus from Pacific Biosciences and will lead the team focused on delivering Nautilus’ first-generation product. “This has been an incredibly exciting year for Nautilus as a company, and for the field of proteomics in general,” said Sujal Patel, CEO of Nautilus Biotechnology. “Our vision at Nautilus is to bring to market a complete, end-to-end, massive-scale protein analysis platform that we believe has the potential to deliver unique biological data and insight in an easy-to-use, cost-effective way. Much as democratizing access to the genome was a catalyst for the development of a broad, vibrant, and healthy genomics ecosystem, we believe that Nautilus’ proteomics innovation has the potential to unlock high-value applications in precision and personalized medicine, in drug discovery, and in diagnostics.” Second Quarter 2021 Financial Results Operating expenses were $10.7 million for the second quarter of 2021, a 215% increase from $3.4 million for the three months ended June 30, 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 $10.7 million for the second quarter of 2021, as compared to a net loss of $3.4 million for the corresponding prior year period. Cash, cash equivalents, and investments were $388.4 million as of Jun...