Yahoo Finance Nautilus Biotechnology Inc (NAUT) Q1 2024 Earnings Call Transcript Highlights: A Detailed ...
Total Operating Expenses: $21.6 million for Q1 2024, up $3.5 million from Q1 2023.
Research and Development Expenses: $12.9 million for Q1 2024, up from $10.9 million in the prior year period.
General and Administrative Expenses: $8.7 million for Q1 2024, up from $7.2 million in the prior year period.
Net Loss: $18.7 million for Q1 2024, increased from $15.0 million in the prior year period.
Cash, Cash Equivalents, and Investments: Approximately $248 million at the end of Q1 2024, down from $264 million at the end of the previous quarter.
Expected Growth in Operating Expenses: Anticipated to grow by approximately 25% from 2023 levels.
Cash Runway: Expected to extend into the second half of 2026.
Release Date: April 30, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q & A Highlights
Q: Hi, this is Madison on for Hugo morning. Just want to maybe start off with sorry, if I missed this on the call, but just wanted to make sure I'm so on time line, you guys are still targeting 2025 expected launch? A: Yes. So on the last time, we gave some time. Our guidance was was on our previous call, which was our fiscal year 2023 call. We didn't make any updates at this time. Things continue to progress on the timeline that we outlined earlier. We don't have any greater specificity at this point. But one of the things that I think I said in Q&A in the last call, just still true is that as we get and as we get to the point where we're able to measure a significant number of our teams, whether it be 1,000 or 2000 or for something in that range from cell I say, and do that in a reliable and reproducible way.
Q: Yes, fubo data, you've shared data there demonstrates the platform's ability to quantify mixtures of tau protein forms that you guys are talking about stepping back. I was just wondering where some like biological questions or use cases they can be answered with disability. I think you mentioned Alzheimer's on the call and for context, could you share how you go about characterizing proteome form mixtures on an BACK, for example? A: Sure. I'll take that. This is Per ag. When we think about pretty forms, generally, we think about them as providing additional detail and specificity about the function of proteins such as tau. So for instance, the first level of regulation is just by whether tau is present or absent the second being how much is present and then the third level of detail that we're really getting to for the first time is studying, how is modified and what the prevalence of the different Modus modified pretty forms are that may have, for instance, three different phosphorylation sites that have been populated and an additional splice variant.
Q: Hi, this is Avi on for Matt. Thanks for taking my questions. As I know in the past, you've mentioned antibodies as being one of the final pieces needed to address before the launch. Can you give an update on how you're working through that? And then any other areas of improvement before the launch. A: So as we've talked about in the past? Thank you for the question. Really there are a couple of key areas that we've been focused on. The first is scale, and that applies to the reagents aspect of the consumables, the chips and flow cells as well as the instruments themselves and scale has two different pieces. The first and the first is just are we able to manufacture sufficient amounts of these consumables with sufficient quality to build a reproducible assay.
Q: Okay, great. Thanks so much. A: Yes, that's a it's a good question, Ian. I'll take that one this residual unit from a supply chain perspective, we continue to on the other side on the electronics side and electronics side, we continue to purchase ahead and manage inventory of some of the longer lead time parts in our in our instrument.
Q: Thanks. And then maybe one for surgical. Sounds like a lot of positive momentum coming out from, but would love to just hear a little more on some of the learnings from the recent event here in the US and then you know what you'll look to build upon ahead of the event this fall in Germany. It sounds like a lot of interest you might have a bit more of an update both for the scientific and investment community. So just would love your thoughts on kind of building on the recent momentum and capitalizing on the next event here in October? A: Yes. Why don't I start that and then I'll let Greg maybe delve in a little bit more detail. I think that, you know, the U.S. two-part event was one where I think that we continue to see a lot of momentum both for the proteomics space, but for Nautilus specifically as well. I was down there in Portland and had the opportunity to walk around and see all the posters and the boots. And I had a number of conversations with many of the KOLs and and scientists in the proteomics space. And there certainly was a lot of excitement around the data that we were showing and anomalous method.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
