NAUT · 10-Q · 2026Q1 · Full report

Liquidity and Cash Position

Nautilus Biotechnology, Inc. · 2026-04-28 · Importance 60 · Surprise 24

As of March 31, 2026, Nautilus reported cash, cash equivalents and investments of $143.4 million and states it believes its existing cash resources will enable funding of planned operating expenses and capital expenditures for at least the next 12 months. The company has an at-the-market sales agreement under which it may offer up to $125.0 million of common stock (no shares were sold under the program during the three months ended March 31, 2026) and a shelf registration that allows for up to $300.0 million of securities for up to three years (no securities have yet been sold under the shelf). Management discloses reliance on additional financing (equity or debt, including potential use of the Sales Agreement or Shelf) to fund commercialization and ramp activities and warns that inability to raise capital on acceptable terms could materially affect operations. The company identifies primary cash uses as R&D, building commercial capabilities, manufacturing setup costs, IP protection, systems implementation and staffing.

Key facts

• As of the filing of this Quarterly Report on Form 10-Q, Nautilus believes its existing cash, cash equivalents, and short-term investments will enable it to fund planned operating expenses and capital expenditures through at least the next 12 months.
• Nautilus reported cash, cash equivalents and short-term investments of $95.9 million as of March 31, 2026 (statement in Overview).
• Nautilus reported cash, cash equivalents and investments of $143.4 million as of March 31, 2026 (statement in Liquidity and Capital Resources).
• Nautilus had an accumulated deficit of $346.7 million as of March 31, 2026.
• Net increase in cash, cash equivalents and restricted cash was $2,238,000 for the three months ended March 31, 2026 and $5,592,000 for the three months ended March 31, 2025.
• Nautilus' primary uses of cash to date have been to fund research and development activities, business planning, intellectual property portfolio maintenance, hiring personnel, raising capital, and providing selling, general and administrative support.

Impact estimates