Tue, Oct 29, 8:10 PM (65 days ago)
Nautilus Biotechnology, Inc. (NAUT) reported a net loss of $16.4 million for Q3 2024, slightly higher than the $15.9 million loss in Q3 2023. For the nine months ending September 30, 2024, the net loss totaled $53.2 million, compared to $46.7 million in the same period of 2023. Operating expenses increased by 10% year-over-year to $61.5 million, driven primarily by rising research and development costs, which accounted for $37.7 million. The company’s cash and investments amounted to $140.6 million as of September 30, 2024, sufficient to fund operations for at least the next year. Nautilus is still in the development stage, with no revenue generated to date, focusing on commercializing its proteomics platform. The company faces uncertainties regarding product launch timelines, market acceptance, and potential regulatory challenges. Additionally, it is navigating a competitive landscape with significant reliance on third-party suppliers, which may impact its operational capabilities. Future funding will be critical, as ongoing losses are expected while the company continues its research and development efforts.