Nautilus Bio
Having looked at a few protein sequencing companies recently, I thought it might be worth checking in on Nautilus again.
I don’t fully understand what’s happening… things don’t seem to be going very well, but there doesn’t seem to be any significant shift in strategy.
The current market cap is <$100M. Which is obviously very low, even compared to QuantumSi (~$350M). And has been in near continual decline:
Looking at their annual reports, they appear to be burning $70M to $80M a year:
With perhaps $100M to $200M in liquid assets? I’d assume they have a couple of years of runway:
In terms of technical content, there’s not much in the annual report. There’s this same image that they showed in the prospectus which is now labelled as 3 billion rather than 10 billion:
Which seems like a significant step backward… (but is still pretty scaled out compared to QuantumSi)