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Nautilus Biotechnology Reports Second Quarter 2023 Financial Results
SEATTLE, Wash., Aug. 02, 2023 (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, Wash., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a company pioneering a single molecule proteome analysis platform, today reported financial results for the second quarter ended June 30, 2023. “I’m excited by the solid progress we made in Q2 against some of our foundational scientific and development goals and in the ways we continue to prepare ourselves for our commercial launch,” said Sujal Patel, CEO of Nautilus. “The type of transformational innovation that Nautilus plans to bring to market next year requires that a significant number of platform elements weave together into a seamless whole: sample preparation, affinity reagent probes, chips, flow cells, the instrument, multi-cycle assay, and software. In Q2, we demonstrated the ability to bring all of those elements together leading to routine and stable assays with higher numbers of probes and cycles. I’m especially proud of the team’s ability to execute well while maintaining exceptional fiscal discipline, preserving our balance sheet, which we now believe will fund operations through 2025 and into 2026.” Second Quarter 2023 Financial Results Operating expenses were $19.0 million for the second quarter of 2023, a 23% increase from $15.5 million for the three months ended June 30, 2022. The increase in operating expenses was driven primarily by an increase in headcount to support ongoing development of our products. Net loss was $15.8 million for the second quarter of 2023, as compared to a net loss of $14.7 million for the corresponding prior year period. Cash, cash equivalents, and investments were $286.7 million as of June 30, 2023. Webcast and Conference Call Information Nautilus will host a conference call to discuss the second quarter 2023 financial results, business developments and outlook before market open on Wednesday, August 2, 2023 at 5:30 AM Pacific Time / 8:30 AM Eastern Time. Live audio of the webcast will be available on the “Investors” section of the company website at: www.nautilus.bio. About Nautilus Biotechnology, Inc. With its corporate headquarters in Seattle, Washington and its research and development headquarters in San Carlos, California, Nautilus is a development stage life sciences company working to create a platform technology for quantifying and unlocking the complexity of the pro...