Nautilus Biotechnology Files Q3 2024 10-Q

TL;DR

Nautilus Bio's Q3 2024 10-Q is in. Check financials for the latest.

AI Summary

Nautilus Biotechnology, Inc. filed its quarterly report for the period ending September 30, 2024. The company, formerly known as ARYA Sciences Acquisition Corp III, reported its financial status and operational details. The filing covers the third quarter of 2024, with financial data presented for the nine months ended September 30, 2024, and comparative periods.

Why It Matters

This filing provides investors with an update on Nautilus Biotechnology's financial health and operational progress during the third quarter of 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — As a biotechnology company, Nautilus faces inherent risks related to research, development, regulatory approvals, and market adoption of its technologies.

Key Numbers

• Q3 2024 — Reporting Period (The company's financial and operational performance for the third quarter of 2024.)
• Nine months ended September 30, 2024 — Year-to-Date Period (Cumulative financial data for the first nine months of 2024.)

Key Players & Entities

• Nautilus Biotechnology, Inc. (company) — Filer of the 10-Q report
• ARYA Sciences Acquisition Corp III (company) — Former name of Nautilus Biotechnology, Inc.
• 20240930 (date) — End of the reporting period
• 20241029 (date) — Date of filing

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share NAUT The Nasdaq Stock Market

Filing Documents

• naut-20240930.htm (10-Q) — 1254KB
• nautilusofferksuzuki202407.htm (EX-10.1) — 32KB
• suzukicicagmnt20240916.htm (EX-10.2) — 90KB
• exhibit311-q324.htm (EX-31.1) — 10KB
• exhibit312-q324.htm (EX-31.2) — 10KB
• exhibit321-q324.htm (EX-32.1) — 5KB
• exhibit322-q324.htm (EX-32.2) — 5KB
• 0001808805-24-000072.txt ( ) — 5697KB
• naut-20240930.xsd (EX-101.SCH) — 28KB
• naut-20240930_cal.xml (EX-101.CAL) — 54KB
• naut-20240930_def.xml (EX-101.DEF) — 100KB
• naut-20240930_lab.xml (EX-101.LAB) — 455KB
• naut-20240930_pre.xml (EX-101.PRE) — 302KB
• naut-20240930_htm.xml (XML) — 797KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION iii

Financial Statements

Item 1. Financial Statements Condensed Consolidated Financial Statements (Unaudited) iii Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (unaudited) 1 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Comprehensive Loss for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 29

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 75

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 75

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 75

Other Information

Item 5. Other Information 75

Exhibits

Item 6. Exhibits 76

SIGNATURES

SIGNATURES 77 i SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that are based on our management's beliefs and assumptions and on information currently available to our management. The forward-looking statements are contained principally in the section entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements include, but are not limited to, statements concerning the following: our dependence on the success of our proteomics platform (the "Nautilus platform"), which remains in the development stage and subject to scientific and technical validation; our expectations regarding the timing and progress of the development of the Nautilus platform and any commercialization timelines; our expectations regarding the functionality of the Nautilus platform; our estimates of our addressable market, market growth, future revenue, key performance indicators, expenses, capital requirements and needs for additional financing; our expectations regarding the rate and degree of market acceptance of the Nautilus platform; the impact of the Nautilus platform on the field of proteomics and the size and growth of the addressable proteomics market; our ability to manage and grow our business and commercialize our Nautilus platform; our ability to successfully implement our three phase commercial launch plan; the implementation of our business model and strategic plans for the Nautilus platform; our ability to establish and maintain intellectual property protection for our products or avoid or defend claims of infringement; our expectations regarding the use of proceeds from the Business Combination (as defined in Part I, Item I,

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS iii Nautilus Biotechnology, Inc. Condensed Consolidated Balance Sheets As of September 30, 2024 and December 31, 2023 (Unaudited) (in thousands, except share and per share amounts) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 4,409 $ 19,397 Short-term investments 136,200 154,021 Prepaid expenses and other current assets 3,596 3,419 Total current assets 144,205 176,837 Property and equipment, net 4,324 4,267 Operating lease right-of-use assets 29,377 32,634 Long-term investments 80,618 90,647 Other long-term assets 1,180 1,180 Total assets $ 259,704 $ 305,565 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,487 $ 1,639 Accrued expenses and other liabilities 3,216 3,945 Current portion of operating lease liabilities 3,959 3,538 Total current liabilities 8,662 9,122 Operating lease liabilities, net of current portion 27,608 31,090 Total liabilities 36,270 40,212 Commitments and contingencies (Note 8) Stockholders' equity: Preferred stock, $ 0.0001 par value, 200,000,000 authorized as of September 30, 2024 and December 31, 2023; 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value, 1,000,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 125,560,309 and 125,068,601 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 13 13 Additional paid-in capital 478,115 467,834 Accumulated other comprehensive income (loss) 731 ( 255 ) Accumulated deficit ( 255,425 ) ( 202,239 ) Total stockholders' equity 223,434 265,353 Total liabilities and stockholders' equity $ 259,704 $ 305,565 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 Nautilus Biotechnology, Inc. Condensed Consolidated Statements of Operations Three and Nine Months Ended September 30, 2024 and 2023 (Unaudit

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View this 10-Q filing on SEC EDGAR