NEW YORK – Pre-revenue proteomics firm Nautilus Biotechnology reported a net loss of $18.0 million, or $.14 per share, in the second quarter of 2024, compared to a net loss of $15.8 million, or $.13 per share, in the year-ago period. The Seattle-based company beat the consensus Wall Street estimate of a $.16 loss per share.
In a statement, CEO Sujal Patel said the firm continued to make progress on the "core development goals for each of the components" of its proteomics platform.
Nautilus' Q2 R&D spending was $12.4 million, up 4 percent from $11.9 million a year ago, while its SG&A costs were $8.4 million, up 18 percent from $7.1 million in Q2 2023.
The company ended the quarter with $25.9 million in cash, cash equivalents, and restricted cash and $142.6 million in short-term investments.
In Tuesday morning trading on the Nasdaq, Nautilus shares were down 6 percent to $2.74.