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# Nautilus Eyes A Fundraise Before Mid-2027, Though Cash Lasts Into 2028
- URL: https://www.bullished.co/nautilus-eyes-a-fundraise-before-mid-2027-though-cash-lasts-into-2028-b929f5d2/
- Published: 2026-10-27T15:16:22.000Z
- Updated: 2026-10-29T17:50:58.000Z
- Description: The proteomics company reported $0.2 million in third-quarter revenue and $114.3 million in cash, and said it is weighing how to raise funds.
- Author: Matteo Parrino
- Tags: Earnings, NAUT, Industry: Healthcare

[Nautilus Biotechnology](https://www.bullished.co/tag/naut/), which is building a platform to measure proteins, is [exploring raising funds](https://www.benzinga.com/news/26/10/62620166/nautilus-biotechnology-q3-2026-earnings-call-transcript?ref=bullished.co) between now and mid-2027, even with cash it says will last into the first quarter of 2028, CFO Anna Mowry said on the company's third-quarter earnings call Tuesday.

## Money for three priorities

Mowry said the proceeds would go to three areas: expanding the proteoform assay portfolio, extending the platform's capabilities and building a commercial team. "We are [actively evaluating](https://www.benzinga.com/news/26/10/62620166/nautilus-biotechnology-q3-2026-earnings-call-transcript?ref=bullished.co) the right path to do so," she said, one that positions Nautilus to capture the market and serves shareholders well.

The company ended the quarter with [$114.3 million](https://www.globenewswire.com/news-release/2026/10/27/3388771/0/en/nautilus-biotechnology-reports-third-quarter-2026-financial-results.html?ref=bullished.co) in cash, cash equivalents and investments, down from $129.2 million at the end of the second quarter. Cash use was about $14.9 million in the quarter.

Nautilus shares traded at $2.24 in Tuesday trading, down about 8% from the prior close.

## Tiny revenue, rising costs

Third-quarter revenue was [$0.2 million](https://www.benzinga.com/news/26/10/62620166/nautilus-biotechnology-q3-2026-earnings-call-transcript?ref=bullished.co), made up of grant revenue for a Michael J. Fox Foundation-funded alpha-synuclein assay and service revenue from its Early Access program. Mowry said that excluding any contribution from a new ARPA-H-funded grant program, fourth-quarter revenue should grow from the third quarter, and total 2026 revenue should exceed the prior outlook of about $0.5 million.

Operating expenses were $16.9 million, up about 10% from $15.5 million a year earlier. Research and development rose about 6% to $10.2 million, and selling, general and administrative costs rose about 15% to $6.8 million. The net loss was $15.6 million, or 12 cents a share, against $13.6 million, or 11 cents, a year earlier. Mowry said full-year operating expense growth should be in the single digits.

## A three-person sales team and a 2027 launch

Nautilus develops the Voyager platform, which combines instruments, consumables and software to analyze single protein molecules. CEO Sujal Patel said the sales team is three people: a head of sales hired in March and two reps hired in April. He said the pipeline is mostly related to tau, a protein tied to Alzheimer's disease.

Patel said the company expects to announce the Voyager commercial launch and open pre-orders in early 2027, then begin instrument shipments in mid-2027 alongside general availability of its tau and AKT1 assay kits and a second oncology assay. It plans to ship a first beta unit this year, and has set a goal of 20 proteoform assays by the middle of 2028.

Pre-orders for Voyager are slated to open in early 2027, with instrument shipments targeted for mid-2027, the same window in which Nautilus says it may raise money.

Learn

- [How To Read An Earnings Call Transcript: Start With Guidance, Then Find What's Missing →](https://www.bullished.co/learn/how-to-read-an-earnings-call/)  
How to read an earnings call transcript: check guidance first, look for dropped metrics, compare growth with last quarter, and watch hedged wording.

### Sources

- [Nautilus Biotechnology Q3 2026 Earnings Call Transcript](https://www.benzinga.com/news/26/10/62620166/nautilus-biotechnology-q3-2026-earnings-call-transcript?ref=bullished.co) — benzinga.com
- [Nautilus Biotechnology Reports Third Quarter 2026 Financial](https://www.globenewswire.com/news-release/2026/10/27/3388771/0/en/nautilus-biotechnology-reports-third-quarter-2026-financial-results.html?ref=bullished.co) — globenewswire.com
- [Nautilus to Measure Proteoforms Driving Alzheimer’s Disease](https://www.globenewswire.com/news-release/2026/10/27/3388769/0/en/nautilus-to-measure-proteoforms-driving-alzheimer-s-disease-and-cancer-in-arpa-h-funded-seeds-consortium.html?ref=bullished.co) — globenewswire.com

### More on Nautilus Biotechnology

- [Nautilus Eyes A Capital Raise By Mid-2027 As CEO Pitches Proteoforms, Not Gene Count, As The Key To Biology](https://www.bullished.co/nautilus-eyes-a-capital-raise-by-mid-2027-as-ceo-pitches-proteoforms-not-gene-count-as-the-281d71fe/)
- [Nautilus Biotechnology Lines Up A $125 Million Stock-Sale Program With $114.3 Million In Cash Left](https://www.bullished.co/nautilus-biotechnology-lines-up-a-125-million-stock-sale-program-with-114-3-million-in-3e6bebd4/)
- [Nautilus Third-Quarter Loss Widens To $15.6 Million With $114.3 Million In Cash And Investments](https://www.bullished.co/nautilus-third-quarter-loss-widens-to-15-6-million-with-114-3-million-in-cash-and-2d2b2c73/)

[All Nautilus Biotechnology (NAUT) coverage →](https://www.bullished.co/tag/naut/)