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): August 2, 2023
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
of incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)
2701 Eastlake Avenue East
Seattle, Washington
(Address of principal executive offices)
(Zip code)
(206) 333-2001
(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
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Common Stock, par value $0.0001 per share
The Nasdaq Stock Market LLC
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 August 2, 2023, Nautilus Biotechnology, Inc. issued a press release reporting its financial results for the quarter ended June 30, 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: August 2, 2023
By:/s/ Sujal Patel
Name:Sujal Patel
Title:Chief Executive Officer

Exhibit 99.1
Nautilus Biotechnology Reports Second Quarter 2023 Financial Results
SEATTLE, WA, August 2, 2023 – Nautilus Biotechnology, Inc. (NASDAQ: NAUT; or “Nautilus”), a company pioneering a single molecule proteome analysis platform, today reported financial results for the second quarter ended June 30, 2023.

“I’m excited by the solid progress we made in Q2 against some of our foundational scientific and development goals and in the ways we continue to prepare ourselves for our commercial launch.”, said Sujal Patel, CEO of Nautilus. “The type of transformational innovation that Nautilus plans to bring to market next year requires that a significant number of platform elements weave together into a seamless whole: sample preparation, affinity reagent probes, chips, flow cells, the instrument, multi-cycle assay, and software. In Q2, we demonstrated the ability to bring all of those elements together leading to routine and stable assays with higher numbers of probes and cycles. I’m especially proud of the team’s ability to execute well while maintaining exceptional fiscal discipline, preserving our balance sheet, which we now believe will fund operations through 2025 and into 2026.”
Second Quarter 2023 Financial Results
Operating expenses were $19.0 million for the second quarter of 2023, a 23% increase from $15.5 million for the three months ended June 30, 2022. The increase in operating expenses was driven primarily by an increase in headcount to support ongoing development of our products.
Net loss was $15.8 million for the second quarter of 2023, as compared to a net loss of $14.7 million for the corresponding prior year period.
Cash, cash equivalents, and investments were $286.7 million as of June 30, 2023.
Webcast and Conference Call Information
Nautilus will host a conference call to discuss the second quarter 2023 financial results, business developments and outlook before market open on Wednesday, August 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, Washington and its research and development headquarters in San Carlos, California, 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 June 30, 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 June 30, 2023 and December 31, 2022 (Unaudited)
(in thousands, except share and per share amounts)June 30,
December 31,
Current assets:
Cash and cash equivalents$72,139 $114,523 
Short-term investments91,156 69,948 
Prepaid expenses and other current assets3,408 2,738 
Total current assets166,703 187,209 
Property and equipment, net4,178 3,700 
Operating lease right-of-use assets34,684 28,866 
Long-term investments 123,433 129,169 
Other long-term assets1,769 1,108 
Total assets$330,767 $350,052 
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable$1,222 $1,272 
Accrued expenses and other liabilities3,411 3,528 
Current portion of operating lease liability3,257 1,991 
Total current liabilities7,890 6,791 
Operating lease liability, net of current portion33,204 28,337 
Total liabilities41,094 35,128 
Stockholders’ equity:
Preferred stock— — 
Common stock12 12 
Additional paid-in capital461,387 455,330 
Accumulated other comprehensive loss(2,389)(1,854)
Accumulated deficit(169,337)(138,564)
Total stockholders’ equity289,673 314,924 
Total liabilities and stockholders’ equity$330,767 $350,052 


Nautilus Biotechnology, Inc.
Condensed Consolidated Statements of Operations
Three and Six Months Ended June 30, 2023 and 2022 (Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except share and per share amounts)2023202220232022
Operating expenses
Research and development$11,912 $8,856 $22,789 $18,514 
General and administrative7,104 6,616 14,287 12,980 
Total operating expenses19,016 15,472 37,076 31,494 
Other income (expense), net3,208 783 6,303 1,042 
Net loss$(15,808)$(14,689)$(30,773)$(30,452)
Net loss per share attributable to common stockholders, basic and diluted$(0.13)$(0.12)$(0.25)$(0.24)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted124,603,181 124,494,036 124,601,762 124,456,518 


Nautilus Biotechnology, Inc.
Condensed Consolidated Statements of Cash Flows
Six Months Ended June 30, 2023 and 2022 (Unaudited)

Six Months Ended June 30,
(in thousands)20232022
Cash flows from operating activities
Net loss$(30,773)$(30,452)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation826 562 
Stock-based compensation5,958 4,677 
Amortization (accretion) of premium (discount) on securities, net(1,412)(147)
Amortization of operating lease right-of-use assets1,806 1,073 
Changes in operating assets and liabilities:
Prepaid expenses and other assets(787)(503)
Accounts payable(199)(643)
Accrued expenses and other liabilities(117)(11)
Operating lease liabilities(1,375)(420)
Net cash used in operating activities(26,073)(25,864)
Cash flows from investing activities
Proceeds from maturities of securities 32,249 105,575 
Purchases of securities (46,844)(54,185)
Purchases of property and equipment(1,155)(1,132)
Net cash (used in) provided by investing activities(15,750)50,258 
Cash flows from financing activities
Proceeds from exercise of stock options188 
Proceeds from issuance of common stock under employee stock purchase plan92 153 
Net cash provided by financing activities99 341 
Net (decrease) increase in cash, cash equivalents and restricted cash(41,724)24,735 
Cash, cash equivalents and restricted cash at beginning of period115,477 186,461 
Cash, cash equivalents and restricted cash at end of period$73,753 $211,196