Nautilus Third-Quarter Loss Widens To $15.6 Million With $114.3 Million In Cash And Investments
The pre-product proteomics company's operating costs rose 10%, and it still points to mid-2027 for instrument availability.
Nautilus Biotechnology, which is building a platform to measure proteins, said its third-quarter net loss widened to $15.6 million from $13.6 million a year earlier, as operating expenses rose 10%. The company still points to instrument availability in the middle of 2027.
Costs up, interest income down
The loss came to $0.12 per share, against $0.11 a year earlier. Operating expenses were $16.9 million, up $1.5 million from $15.5 million, which the company attributed to higher laboratory and professional services costs and higher salaries and benefits, partly offset by lower facilities expenses.
Revenue was $0.2 million, mostly grant revenue tied to a Michael J. Fox Foundation grant plus service revenue from its Iterative Mapping Early Access Program. Interest income fell to $1.2 million from $1.9 million a year earlier.
For the first nine months, the net loss was $44.8 million, compared with $45.2 million a year earlier.
A pre-product proteomics developer
Nautilus is a development-stage life sciences company working on a platform to measure proteins, using instruments, consumables and software to analyze single protein molecules through a method it calls Iterative Mapping. Its Voyager platform is not yet commercially available.
The quarter's progress included a peer-reviewed Nature Methods paper on Iterative Mapping and first development data on oncology assays, including AKT1, shown at World HUPO 2026. The company said that data matched the performance profile of its Tau assay, and it is advancing toward twenty proteoform assays planned through mid-2028.
CEO Sujal Patel said the proteoform expansion initiative is "on-track" and that the progress reinforces the company's confidence in "our planned instrument availability in the middle of 2027."
Cash and a $6 million consortium award
Cash, cash equivalents and investments totaled $114.3 million at September 30. Total stockholders' equity was $116.6 million, down from $157.0 million at the end of 2025, and net cash used in operations for the nine months was $40.1 million.
After quarter end, Nautilus joined SEEDS, a four-year research consortium funded by ARPA-H. ARPA-H has awarded the group $51.7 million, and Nautilus expects up to $6 million to deploy Voyager on proteoforms tied to Alzheimer's disease and cancer. The company cautioned that the SEEDS funding could be reduced, delayed or terminated.
Nautilus held a webcast on the results at 8:30 a.m. ET Tuesday, and its quarterly report on Form 10-Q is still to be filed.
Sources
- 8-K Filing — Nautilus Biotechnology, Inc. (NAUT) — SEC EDGAR
- Exhibit exhibit991-q3268xkearnings.htm — Nautilus Biotechnology, Inc. 8-K exhibit — SEC EDGAR
- Nautilus Biotechnology Reports Third Quarter 2026 Financial — globenewswire.com
- Nautilus to Measure Proteoforms Driving Alzheimer’s Disease — globenewswire.com
