With activist investors holding stakes and the company burning ~$13M per quarter, the next catalyst is the mid-2027 instrument availability target. Monitor the Q4 2026 cash position and any further activist filings for signs of board or strategic changes.
Price Chart
Executive Summary
Nautilus Biotechnology reported Q3 2026 revenue of $0.2M and a net loss of $15.6M, with the net loss widening from $13.6M a year ago. The company highlighted a Nature Methods publication, early oncology assay data, and a new ARPA-H consortium award of up to $6M, while reiterating planned instrument availability in mid-2027. The filing is neutral: the company remains pre-commercial with a cash burn that reduced cash and investments to $114.3M, and the activist SC 13D filings within the past 90 days add scrutiny but no immediate catalyst.
Key Financial Metrics
Key Facts
- Q3 2026 revenue was $0.2 million, primarily from grant and early-access service revenue.
- Net loss was $15.6 million, compared to $13.6 million in Q3 2025.
- Operating expenses were $16.9 million, up 10% from $15.5 million a year ago.
- Cash, cash equivalents, and investments totaled $114.3 million as of September 30, 2026.
- Published a peer-reviewed paper in Nature Methods on Iterative Mapping technology.
- Shared first development data on oncology proteoform assays at World HUPO 2026.
- Subsequent to quarter end, announced participation in ARPA-H-funded SEEDS consortium expecting up to $6 million.
- Planned instrument availability reiterated for mid-2027.
- Three SC 13D/A filings from activist investors AH Bio Fund II and Perceptive Advisors were filed within 90 days prior to this earnings release.
Financial Impact
Net loss widened by $2.0 million YoY; cash burn of $40.1 million in operating cash flow over nine months; cash runway to approximately mid-2027 based on current burn rate.
Risk Factors
- Cash runway limited to approximately mid-2027 based on current burn rate; may require additional financing before commercial launch.
- Voyager platform not yet commercially available; development and validation risks remain.
- ARPA-H SEEDS funding of up to $6 million is subject to reduction, delay, or termination.
- Activist investor presence (AH Bio Fund II, Perceptive Advisors) could lead to board changes or strategic alternatives.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001808805-26-000049 |
| Document: naut-20261027.htm | 0001808805-26-000049 |
| Document: 0001808805-26-000049-index-headers.html | 0001808805-26-000049 |
| Document: 0001808805-26-000049-index.html | 0001808805-26-000049 |
| Document: 0001808805-26-000049.txt | 0001808805-26-000049 |
| 8-K Data (Synthetic) | 0001808805-26-000049 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 1d ago | Press Release | $2.50 | awaiting T+20 | awaiting T+20 | $3.05 (+22.22%) |
Oct 27, 2026 1d ago | Press Release | $2.50 | awaiting T+20 | awaiting T+20 | $3.05 (+22.22%) |
Oct 26, 2026 1d ago | 8-K | $2.38 | awaiting T+20 | awaiting T+20 | $3.05 (+28.32%) |
Sep 21, 2026 5w ago | EFFECT | $0.9547 $2.63 | ▲ +175.48% | ▲ +176.39% | $3.05 (+219.89%) |
Sep 18, 2026 5w ago | 424B5 | $0.9547 $2.63 | ▼ −175.48% | ▼ −176.39% | $3.05 (−219.89%) |
Apr 28, 2026 26w ago | Press Release | $2.59 $2.43 | ▼ −6.18% | ▼ −11.65% | $3.05 (+17.92%) |
Apr 27, 2026 26w ago | 8-K | $2.59 $2.56 | ▼ −1.16% | ▼ −6.61% | $3.05 (+17.92%) |
Mar 18, 2026 32w ago | Press Release | $2.74 $3.13 | ▲ +14.05% | ▲ +8.00% | $3.05 (+11.46%) |
Feb 26, 2026 34w ago | 8-K | $2.42 $3.78 | ▲ +56.20% | ▲ +62.60% | $3.05 (+26.20%) |
US Market Status
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