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): April 30, 2024
(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:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
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).
Emerging growth company  x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o

Item 2.02.    Results of Operations and Financial Condition.
On April 30, 2024, Nautilus Biotechnology, Inc. issued a press release reporting its financial results for the quarter ended March 31, 2024. 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: April 30, 2024
By:/s/ Sujal Patel
Name:Sujal Patel
Title:Chief Executive Officer

Exhibit 99.1
Nautilus Biotechnology Reports First Quarter 2024 Financial Results
SEATTLE, WA, April 30, 2024 – 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, 2024.

“We continued to make solid progress against our core development goals in Q1,” said Sujal Patel, CEO of Nautilus. “We remain incredibly focused on increasing the scale, stability, and reproducibility of our consumables, assay, instrument, and software and continue to see meaningful gains along each of those dimensions. We are clear-eyed about what work remains to be done and confident that we have a foundational understanding of what is required to establish a new gold standard for the creation and comprehensive analysis of high-value proteomic data.”
First Quarter 2024 Financial Results
Operating expenses were $21.6 million for the first quarter of 2024, a $3.5 million or 20% increase from $18.1 million for the corresponding prior year period. The increase in operating expenses was driven primarily by an increase in headcount to support ongoing development of our products.
Net loss was $18.7 million for the first quarter of 2024, as compared to a net loss of $15.0 million for the corresponding prior year period.
Cash, cash equivalents, and investments were $247.7 million as of March 31, 2024.
Webcast and Conference Call Information
Nautilus will host a conference call to discuss the first quarter 2024 financial results, business developments and outlook before market open on Wednesday, April 30, 2024 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 development required for and 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, 2024 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.
Media Contact
Investor Contact

Nautilus Biotechnology, Inc.
Condensed Consolidated Balance Sheets
As of March 31, 2024 and December 31, 2023 (Unaudited)
(in thousands, except share and per share amounts)March 31, 2024December 31, 2023
Current assets:
Cash and cash equivalents$25,729 $19,397 
Short-term investments155,637 154,021 
Prepaid expenses and other current assets3,728 3,419 
Total current assets185,094 176,837 
Property and equipment, net4,525 4,267 
Operating lease right-of-use assets31,559 32,634 
Long-term investments66,292 90,647 
Other long-term assets1,180 1,180 
Total assets$288,650 $305,565 
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable$1,860 $1,639 
Accrued expenses and other liabilities3,677 3,945 
Current portion of operating lease liabilities3,675 3,538 
Total current liabilities9,212 9,122 
Operating lease liabilities, net of current portion29,946 31,090 
Total liabilities39,158 40,212 
Stockholders' equity:
Preferred stock— — 
Common stock13 13 
Additional paid-in capital471,193 467,834 
Accumulated other comprehensive income (loss)(745)(255)
Accumulated deficit(220,969)(202,239)
Total stockholders’ equity249,492 265,353 
Total liabilities and stockholders' equity$288,650 $305,565 


Nautilus Biotechnology, Inc.
Condensed Consolidated Statements of Operations
Three Months Ended March 31, 2024 and 2023 (Unaudited)
Three Months Ended March 31,
(in thousands, except share and per share data)20242023
Operating expenses
Research and development$12,930 $10,877 
General and administrative8,677 7,183 
Total operating expenses21,607 18,060 
Other income (expense)
Interest income2,877 3,098 
Other expense— (3)
Total other income$2,877 $3,095 
Net loss$(18,730)$(14,965)
Net loss per share attributable to common stockholders, basic and diluted$(0.15)$(0.12)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted125,135,451 124,590,351 


Nautilus Biotechnology, Inc.
Condensed Consolidated Statements of Cash Flows
Three Months Ended March 31, 2024 and 2023 (Unaudited)

Three Months Ended March 31,
(in thousands)20242023
Cash flows from operating activities
Net loss$(18,730)$(14,965)
Adjustments to reconcile net loss to net cash used in operating activities
Stock-based compensation expense3,114 2,860 
Amortization of operating lease right-of-use assets1,075 786 
Depreciation516 385 
Amortization (accretion) of premium (discount) on securities, net(751)(669)
Changes in operating assets and liabilities:
Prepaid expenses and other assets(309)(513)
Accounts payable94 53 
Accrued expenses and other liabilities(268)65 
Operating lease liabilities(1,007)(526)
Net cash used in operating activities(16,266)(12,524)
Cash flows from investing activities
Proceeds from maturities of securities23,000 14,249 
Purchases of securities— (27,052)
Purchases of property and equipment(647)(692)
Net cash provided by (used in) investing activities22,353 (13,495)
Cash flows from financing activities
Proceeds from exercise of stock options245 
Net cash provided by financing activities245 
Net increase (decrease) in cash, cash equivalents and restricted cash6,332 (26,018)
Cash, cash equivalents and restricted cash at beginning of period20,399 115,477 
Cash, cash equivalents and restricted cash at end of period$26,731 $89,459