The following is a summary of the Nautilus Biotechnology, Inc. (NAUT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Nautilus Biotechnology reported Q1 2024 total operating expenses of $21.6 million, an increase of $3.5 million compared to Q1 2023.

• Research and development expenses were $12.9 million, compared to $10.9 million in the prior year.

• General and administrative expenses were $8.7 million, up from $7.2 million in the prior year.

• The net loss for Q1 2024 was $18.7 million compared to the $15.0 million loss of the previous year.

• Nautilus forecasted an increase of approximately 25% from 2023 levels for total operating expenses and anticipates cash runway to extend into the second half of 2026.

Business Progress:

• The company reported significant progress on its proteome analysis platform with a scheduled launch in 2025.

• The company has made improvements to platform stability and increased consumable scale and quality, enabling faster protein decoding experiments.

• Nautilus Biotechnology is making advancements in studying disease biomarkers and focusing on scale and reproducibility in relation to reagents, chips, flow cells, and instruments.

• The company is preparing its supply chain ahead of the product launch.

• It received positive feedback at the US HUPO event and plans to present more data at the upcoming event in Germany.

More details: Nautilus Biotechnology IR

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