Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 2, 2023
(Exact name of registrant as specified in its charter)
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(Commission File Number)
(I.R.S. Employer
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2701 Eastlake Avenue East
Seattle, Washington
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(206) 333-2001
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(Former name or former address, if changed since last report)
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Common Stock, par value $0.0001 per share
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Item 2.02.    Results of Operations and Financial Condition.
On May 2, 2023, Nautilus Biotechnology, Inc. issued a press release reporting its financial results for the quarter ended March 31, 2023. A copy of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished in this Current Report under Item 2.02 and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01.    Financial Statements and Exhibits.
(d)    Exhibits
104Cover page Interactive Data File (embedded with the Inline XBRL document)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 2, 2023
By:/s/ Sujal Patel
Name:Sujal Patel
Title:Chief Executive Officer

Exhibit 99.1
Nautilus Biotechnology Reports First Quarter 2023 Financial Results
SEATTLE, WA, May 2, 2023 – Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a company pioneering a single molecule proteome analysis platform, today reported financial results for the first quarter ended March 31, 2023.
Recent Highlights

Announced the three winners of Nautilus’ First Access Challenge, representing a diverse set of investigators and spanning a wide range of areas of study across aging, inflammatory disorders, and cancer. The winners’ samples will be run as part of Nautilus’ Early Access Program.
The company was granted 4 new US Patents in the first quarter of 2023, raising Nautilus’ total to 12 granted US Patents.
Total operating expenses for the first quarter of 2023 were $18.1 million, up $2.1 million compared to the first quarter of 2022 and $1.8 million above last quarter.

“In Q1 we continued to make steady progress in addressing key scientific and business milestones leading to the planned launch of our platform – instruments, reagents, and software – in mid-2024”, said Sujal Patel, CEO of Nautilus. “A critically important part of that effort is the disciplined and efficient way in which we have – and will continue to – manage our resources to maximize Nautilus’ cash runway through the planned launch, and well into 2025. We are very excited to get our platform into the hands of researchers and to see the impact their work can have on biological research and healthcare.”
First Quarter 2023 Financial Results
Operating expenses were $18.1 million for the first quarter of 2023, a 13% increase from $16.0 million for the three months ended March 31, 2022. The increase in operating expenses was driven primarily by an increase in headcount to support ongoing development of our products.
Net loss was $15.0 million for the first quarter of 2023, as compared to a net loss of $15.8 million for the corresponding prior year period.
Cash, cash equivalents, and investments were $302.0 million as of March 31, 2023.
Webcast and Conference Call Information
Nautilus will host a conference call to discuss the first quarter 2023 financial results, business developments and outlook before market open on Tuesday, May 2, 2023 at 5:30 AM Pacific Time / 8:30 AM Eastern Time. Live audio of the webcast will be available on the “Investors” section of the company website at:
About Nautilus Biotechnology, Inc.
With its corporate headquarters in Seattle and its research and development headquarters in the San Francisco Bay Area, Nautilus is a development stage life sciences company working to create a platform technology for quantifying and unlocking the complexity of the proteome. Nautilus’ mission is to transform the field of proteomics by democratizing access to the proteome and enabling fundamental advancements across human health and medicine. To learn more about Nautilus, visit
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements in this press release include, but are not limited to, statements regarding Nautilus’ expectations regarding the company’s business operations, financial performance and results of operations; expectations with respect to any revenue timing or projections, expectations with respect to the timing of the launch of Nautilus’ product platform and full commercial availability, the functionality and performance of Nautilus’ product platform, its potential impact on providing proteome access, pharmaceutical development and drug discovery, expanding research horizons, and enabling scientific explorations and discovery, and the present and future capabilities and limitations of emerging proteomics technologies. These statements are based on numerous assumptions concerning the development of Nautilus’ products, target markets, and other current and emerging proteomics technologies, and involve substantial risks, uncertainties and other factors that may cause actual results to be materially different from the information expressed or implied by these forward-looking statements. Risks and uncertainties

that could materially affect the accuracy of Nautilus’ assumptions and its ability to achieve the forward-looking statements set forth in this press release include (without limitation) the following: Nautilus’ product platform is not yet commercially available and remains subject to significant scientific and technical development, which is inherently challenging and difficult to predict, particularly with respect to highly novel and complex products such as those being developed by Nautilus. Even if our development efforts are successful, our product platform will require substantial validation of its functionality and utility in life science research. In the course of Nautilus’ scientific and technical development and associated product validation and commercialization, we may experience material delays as a result of unanticipated events. We cannot provide any guarantee or assurance with respect to the outcome of our development, collaboration, and commercialization initiatives or with respect to their associated timelines. For a more detailed description of additional risks and uncertainties facing Nautilus and its development efforts, investors should refer to the information under the caption “Risk Factors” in our Annual Report on Form 10-K as well as in our Quarterly Report on Form 10-Q to be filed for the quarter ended March 31, 2023 and our other filings with the SEC. The forward-looking statements in this press release are as of the date of this press release. Except as otherwise required by applicable law, Nautilus disclaims any duty to update any forward-looking statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

Disclosure Information

Nautilus uses filings with the Securities and Exchange Commission, its website (, press releases, public conference calls, public webcasts, and its social media accounts as means of disclosing material non-public information and for complying with Regulation FD. Therefore, Nautilus encourages investors, the media, and others interested in Nautilus to review the information it makes public in these locations, as such information could be deemed to be material information.
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Nautilus Biotechnology, Inc.
Condensed Consolidated Balance Sheets
As of March 31, 2023 and December 31, 2022 (Unaudited)
(in thousands, except share and per share amounts)March 31,
December 31,
Current assets:
Cash and cash equivalents$88,505 $114,523 
Short-term investments78,843 69,948 
Prepaid expenses and other current assets3,136 2,738 
Total current assets170,484 187,209 
Property and equipment, net3,948 3,700 
Operating lease right-of-use assets35,703 28,866 
Long-term investments 134,641 129,169 
Other long-term assets1,108 1,108 
Total assets$345,884 $350,052 
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable$1,266 $1,272 
Accrued expenses and other liabilities3,593 3,528 
Current portion of operating lease liability3,070 1,991 
Total current liabilities7,929 6,791 
Operating lease liability, net of current portion34,240 28,337 
Total liabilities42,169 35,128 
Stockholders’ equity:
Preferred stock— — 
Common stock12 12 
Additional paid-in capital458,191 455,330 
Accumulated other comprehensive loss(959)(1,854)
Accumulated deficit(153,529)(138,564)
Total stockholders’ equity303,715 314,924 
Total liabilities and stockholders’ equity$345,884 $350,052 


Nautilus Biotechnology, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended March 31, 2023 and 2022 (Unaudited)
Three months ended March 31,
(in thousands, except share and per share amounts)20232022
Operating expenses
Research and development$10,877 $9,658 
General and administrative7,183 6,364 
Total operating expenses18,060 16,022 
Other income (expense), net3,095 259 
Net loss$(14,965)$(15,763)
Net loss per share attributable to common stockholders, basic and diluted$(0.12)$(0.13)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted124,590,351 124,418,580 


Nautilus Biotechnology, Inc.
Condensed Consolidated Statements of Cash Flows
Three Months Ended March 31, 2023 and 2022 (Unaudited)

Three Months Ended March 31,
(in thousands)20232022
Cash flows from operating activities
Net loss$(14,965)$(15,763)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation385 281 
Stock-based compensation2,860 2,110 
Amortization (accretion) of premium (discount) on securities, net(669)26 
Amortization of operating lease right-of-use assets786 525 
Changes in operating assets and liabilities:
Prepaid expenses and other assets(513)554 
Accounts payable53 (394)
Accrued expenses and other liabilities65 308 
Operating lease liabilities(526)18 
Net cash used in operating activities(12,524)(12,335)
Cash flows from investing activities
Proceeds from maturities of securities 14,249 38,575 
Purchases of securities (27,052)(22,912)
Purchases of property and equipment(692)(481)
Net cash (used in) provided by investing activities(13,495)15,182 
Cash flows from financing activities
Proceeds from exercise of stock options156 
Net cash provided by financing activities156 
Net (decrease) increase in cash, cash equivalents and restricted cash(26,018)3,003 
Cash, cash equivalents and restricted cash at beginning of period115,477 186,461 
Cash, cash equivalents and restricted cash at end of period$89,459 $189,464