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Nautilus Biotechnology Reports Third Quarter 2021 Financial Results
SEATTLE, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a company pioneering a single-molecule protein analysis
About this update from Nautilus Biotechnology, Inc.
[{"type":"text","content":"SEATTLE, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a company pioneering a single-molecule protein analysis platform for quantifying the proteome, today reported financial results for the third quarter ended September 30, 2021. Recent Highlights Initiated a strategic partnership with Abcam, a world leader in the design and production of commercial antibodies, which we expect to accelerate our technology development pipeline and provide access to antibody development expertise that we believe will enhance protein detection in our platform.Signed our second and third research collaborations, one with a global pharmaceutical company and the other with an investigator at The University of Texas MD Anderson Cancer Center. Both collaborations are expected to utilize the Nautilus platform across a number of projects to investigate proteins and proteoforms of interest.Shared a manuscript that introduces the theoretical foundation for a fundamentally different approach to proteomics, called Protein Identification by Short-epitope Mapping (PrISM). “Reflecting on the year thus far, 2021 has been characterized by exciting collaboration agreements, momentum around planned publications, the initiation of strategic partnerships, and our move to new world-class facilities in both San Carlos and Seattle,” said Sujal Patel, CEO of Nautilus. “Our team of scientific and engineering innovators continues to execute and capitalize on a wide range of opportunities. I am very proud of the team and pleased with the progress we are making towards delivering a deeper, richer view of the proteome than ever before possible.” Third Quarter 2021 Financial Results Operating expenses were $14.6 million for the third quarter of 2021, a 262% increase from $4.0 million for the three months ended September 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 $14.5 million for the third quarter of 2021, as compared to a net loss of $4.0 million for the corresponding prior year period. Cash, cash equivalents, and investments were $374.0 million as of September 30, 2021. Webcast and Conference Call Information Nautilus will host a conference call to discuss th...