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Nautilus Biotechnology Reports Second Quarter 2024 Financial Results
SEATTLE, July 30, 2024 (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, July 30, 2024 (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, 2024. “In Q2, we saw continued progress against core development goals for each of the components of our platform,” said Sujal Patel, CEO of Nautilus. “We believe we are pioneering a fundamentally new approach that holds the potential to overcome the limitations of traditional and peptide-based protein analysis methods and to unlock the value of the proteome – both in targeted proteoform analysis and broadscale discovery – something we continue to view as one of the most significant untapped opportunities in biological science.” Second Quarter 2024 Financial Results Operating expenses were $20.8 million for the second quarter of 2024, a $1.8 million or 9% increase from $19.0 million for the corresponding prior year period. The increase in operating expenses was driven primarily by an increase in headcount to support ongoing development of our products. Net loss was $18.0 million for the second quarter of 2024, as compared to a net loss of $15.8 million for the corresponding prior year period. Cash, cash equivalents, and investments were $232.9 million as of June 30, 2024. Webcast and Conference Call Information Nautilus will host a conference call to discuss the second quarter 2024 financial results, business developments and outlook before market open on Tuesday, July 30, 2024, 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 proteome. Nautilus’ mission is to transform the field of proteomics by democratizing access to the proteome and enabling fundamental advancements across human health and medicine. To learn more about Nautilus, visit www.nautilus.bio Special Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning...